Hotel Pricing and Parity Analysis for Asia (Dec 2013, Jan 2014 & Feb 2014)
RateGain, the leading hospitality & travel technology Company, released its Hotel Pricing Trends and Hotel Rate Parity report. A single window BI dashboard, which enables revenue professionals on cheapest rate visibility, tracking hotel rate parity along with median rate for three (3) months of three, four and five star hotel category across some of the major cities in Asia.
The report covers the period of December 2013, January 2014 and February 2014. Lowest rate trends over the three months show minimal variations in the 3-star category. Hong Kong shows slight downward trend in January while Singapore is the same lowest rate for all 3 months). In the 4 and 5-star categories minimum rates increase in Hong Kong and Singapore with Mumbai joining the midst. It is no surprise to see Hong Kong and Singapore having Highest Median Rates, but the surprise city is Langkawi in the Five Star Category. Otherwise there are only minor variations across the period of the report. The widest range of rates (shown by the difference between minimum and median numbers) is seen in Bali where rates range from a minimum of $72 to a median value of $302.51 and Phuket where rates range from $138.3 to $453 for 5-star hotels while Hong Kong leads the show in the Four Star Category.
- Price Trends for 3 star hotels – Asia (Dec 2013, Jan 2014 & Feb 2014) Click here to view the full report
The overall level of parity between hotel websites and OTAs is lower than usual for the period of this report (December 2013, January 2014 and February 2014). Hong Kong, Beijing and Jakarta show some consistency across categories and in the 3-star category their levels of parity range from 0% – 28%. For other cities many hotels are not achieving parity. Mumbai and New Delhi show a significant proportion of hotels with rates cheaper on their brand website. 62% of 3-star hotel websites are cheaper in Mumbai and the proportion is similar for 4-star in Jakarta. In the majority of other locations the largest proportion of the cheapest rates was to be found on the OTA sites: 5-star hotel rates sampled in Bali, Penang and Kuala Lumpur and 3- star hotel rates sampled in Bali were all found to be lower on the OTAs and in other locations the proportion is greater than 70%. Lower rates on OTAs reinforce consumer behaviour in the direction of finding the cheapest rate; hotels may choose to change the balance and take more control by actively managing channels based on overall cost of distribution and by finding ways to differentiate the products offered through their own websites.
- Rate Parity for 3 star hotels – Asia (Dec 2013, Jan 2014 & Feb 2014) Click here to view the full report
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