In 2023 travelers can check many hotel listings within minutes. It is not the travel agencies that created this boom, it is the desire of the traveler to have more choices. For this reason, online travel agencies have taken over the market by a whopping 80% in 2023. As a result, properties that do not use OTA services have unsold rooms in their daily inventories. Always remember the date on a hotel room expires every day at midnight.
For a vacation rental to succeed you must choose the right Online Travel agency. Without listing on the proper sites you risk not capturing the global travel market. So, it is crucial to choose the right agency for your property and clientele. With OTA’s capturing 80% of the market, property owners need to reconsider their OTA Choices.
Some Important Rules to Follow
Provide detailed, professional photos of your entire property.
Always answer both positive and negative reviews.
Be sure to list all facilities and points of interest in your area.
You must keep your rates current.
Continuously add specials, discounts, and promotions on special occasions.
Manage your inventory through a channel manager to prevent double bookings.
It is necessary to prepare ahead and register for numerous OTAs rather than depending solely on one or two. Let’s not forget by having quality service these customers have a high potential of becoming regular guests.
Receive Bookings 24 Hours a Day
Potential guests will book while you are sleeping by using online travel agencies. Marketing a hotel globally is expensive. With online travel agencies, you pay a pricey commission. Consider this commission to be the cost of marketing your hotel globally.
What You Need to Know Before Choosing an OTA
In 2023 the market is home to a wide range of OTAs, each of which has a unique booking mechanism. You must select the right OTAs to suit your needs. Rather than signing up with only the sites you have in mind or prefer you need to research further.
Several aspects need consideration when selecting an online travel agency. There are also things to avoid when selecting the right OTA.
All OTAs have a geographic focus and not all are global booking sites. They serve customers from particular areas and cater to different types of travelers. It thus becomes essential to know where the majority of your guests are coming from. You should be familiar with them all to aid in your online travel agency selection.
City and State Funded Agencies in Your Area
Consult with your local city and tourism authority. Most Cities and countries have their own sponsored promotional tools. Do not underestimate these tools. You will gain valuable insights into the local industry. Many convention and business travelers, use these sites and tools.
Choosing the Appropriate Online Travel Agencies.
Expedia is most suited for selling five-star and luxurious rooms. Airbnb and hotels.com are good places to find independent hotels for lone travelers.
Flipkey.com and bedandbreakfast.com now owned by VRBO.com are best for bed and breakfast-style accommodations.
Booking.com is a global market platform. The Preferred Partner Program also increases visibility.
HostelWorld.com caters to the hostel community of travelers. These websites are powerful yet it does depend on the property type.
Price parity the Golden Rule
Across all distribution channels, the same rate must be maintained for the same room. These rates must never be lower not even on your website. This is the definition of rate parity. This is one rule that you must follow. Some OTAs ban your property for life, while others for months for rate parity violations. Be aware reputable agencies have teams checking your rates for parity.
Each OTA uses a unique commission structure. Consider the customer lifetime value brought in by online bookings through an agency. Be aware of hidden fees and the disadvantages of OTA listings before choosing. There is a hefty commission involved, ranging from 2-10% or more on each booking. Your property will receive a lot of exposure via OTA. For more tips on optimizing your OTA listings Click Here.
LAAYR Web The Little Hotel Advisor: offers free tips and articles several times a week. We are a group of hospitality professionals that enjoy helping property owners succeed.
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