50% of Hotels Struggle to Optimize Marketing Campaigns in the Absence of Accurate Travel Intent: State of Distribution Report 2024 Reveals
- Hoteliers Invest Two Days A Week Solely in Building Reports - This report by RateGain, NYU and HEDNA aims to create benchmarks for the hospitality industry and help with crucial decisions impacting the evolution of distribution
RateGain Travel Technologies Limited (RateGain), a leading provider of AI-powered SaaS solutions for travel and hospitality, announced today that the NYU School of Professional Studies Jonathan M. Tisch Center of Hospitality (NYU SPS Tisch Center) and its Hospitality Innovation Hub (HI Hub) Experiential Learning Lab, along with HEDNA and RateGain, released the first edition of The State of Distribution for 2024.
Noida - RateGain Travel Technologies Limited (RateGain), a leading provider of AI-powered SaaS solutions for travel and hospitality, announced today that the NYU School of Professional Studies Jonathan M. Tisch Center of Hospitality (NYU SPS Tisch Center) and its Hospitality Innovation Hub (HI Hub) Experiential Learning Lab, along with HEDNA and RateGain, released the first edition of The State of Distribution for 2024. The first of its kind report was created with an aim to help leaders with strategic decision-making, prioritizing technology investments, organizational restructuring, and training and education.
Today, more than ever, hotel commercial teams are getting involved in making technology decisions in the organization. While commercial teams in other industries have online communities and benchmark studies to help them make decisions, there has been an absence of defined standards and benchmarks in hospitality technology and this report will address that.
The report created through primary research conducted from December 2023 through May 2024 with representing 11,000+ hotel properties across various regions, is an essential read for commercial teams, students, hotel management companies, and anyone interested in understanding the evolution of the distribution landscape in hospitality.
Few of the insights from the report that can help hoteliers make strategic decisions include:
- Ease of implementation and Clear ROI continue to be the top two factors for deciding on technology solutions
- Investing in technology training is a key area of investment for all types of hotels. Large chains focus on comprehensive training, mid-size chains on high-impact training for ROI, and independent hotels on maximizing critical systems.
- Tracking intent is a major challenge, with 50% of hotels unable to track intent outside of the hotel website and social media analytics
- Hoteliers are spending 25% of their time on reporting with a majority of them stating it as a key area of increased manual effort
Insights are critical today as plagued by multiple challenges; the industry needed to understand what their peers are doing to give them a direction on where to invest their resources to drive profitability.
The State of Distribution 2024 report not only empowers hoteliers with the insights needed to thrive in an ever-evolving landscape, but also educates the future workforce with the technology knowledge and benchmarks to face the challenges of tomorrow. Vanja Bogicevic, PhD, the director of the HI Hub Experiential Learning Lab at the NYU SPS Tisch Center
The hospitality industry has evolved tremendously, from manual reservation systems to cutting-edge technology solutions. Yet, one thing remains constant: the need for a comprehensive understanding of distribution challenges faced by hoteliers. That's why RateGain, in partnership with HEDNA and New York University, has developed a groundbreaking State of Distribution Report. Peter Strebel, President (Americas) at RateGain
The State of Distribution 2024 report is more than a resource—it’s a strategic tool tailored to empower hoteliers to face current challenges and seize future opportunities. With HEDNA's hotelier perspective, RateGain's global reach and data insights, and NYU's educational excellence, we're bringing together expertise to educate future leaders and provide invaluable insights into the industry. Christopher Murdock, HEDNA President and Director of Distribution System Support and Strategy at Accor
To learn more about the report, visit stateofdistribution.com.
About The State of Distribution 2024
The State of Distribution report is a comprehensive analysis designed to demystify the complexities of the hospitality industry, offering insights into current trends, future forecasts, and actionable strategies for optimizing distribution channels. This initiative, born from the collaboration between HEDNA, RateGain, and NYU SPS, aims to bridge the gap between industry professionals and academic excellence, providing a data-driven foundation for enhancing guest experiences and driving success in the hospitality sector. Learn more at stateofdistribution.com.
About HEDNA
HEDNA is a global community of hospitality professionals, technology providers, educators, and consultants passionate about elevating the role of distribution. Through influence, collaboration, and networking, we elevate careers, harness new business opportunities, and drive the business of hospitality forward, together. Through our global conferences, local networking events and industry working groups, we help our stakeholders appreciate the nuances of today’s technologies, gauge the impact of today’s trends, and prepare for the challenges of tomorrow. Learn more at hedna.org.
About The NYU SPS Jonathan M. Tisch Center of Hospitality
The NYU SPS Jonathan M. Tisch Center of Hospitality is a leading center for the study of hospitality, travel, and tourism. Founded in 1995, the Tisch Center was established in response to the growing need for hospitality and tourism undergraduate and graduate education. Its cutting-edge curricula attract bright, motivated students who seek to become leaders in their fields. The Tisch Center launched the Hospitality Innovation Hub (HI Hub) that will foster entrepreneurship and creative solutions for the industries it serves. The state-of-the-art facilities offer students, start-ups, established industry partners and investors opportunities to learn, discover, innovate, and invest. For more information about the NYU SPS Jonathan M. Tisch Center of Hospitality, visit sps.nyu.edu/tisch.
About RateGain
RateGain Travel Technologies Limited is a global provider of AI-powered SaaS solutions for travel and hospitality, working with 13,000+ customers and 700+ partners across 160+ countries. RateGain helps travel and hospitality businesses accelerate revenue generation through acquisition, retention, and wallet share expansion. Today, RateGain is one of the world’s largest processors of electronic transactions, price points, and travel intent data, enabling revenue management, distribution, and marketing teams across hotels, airlines, destination marketing organizations, online travel agents, metasearch companies, package providers, car rentals, travel management companies, cruises, and ferries to drive better business outcomes. Founded in 2004 and headquartered in India, RateGain works with 33 of the Top 40 Hotel Chains, 4 of the Top 5 Airlines, 7 of the Top 10 Car Rental companies, and all leading DMOs, OTAs, and metasearch platforms, including 25 Global Fortune 500 companies, unlocking new revenue every day. For more information, please visit www.rategain.com.
About the NYU SPS Jonathan M. Tisch Center of Hospitality
The NYU School of Professional Studies Jonathan M. Tisch Center of Hospitality, now celebrating 25 years of academic excellence, is a leading center for the study of hospitality, travel, and tourism. Founded in 1995, the Tisch Center was established in response to the growing need for hospitality and tourism undergraduate and graduate education. Its cutting-edge curricula attract bright, motivated students who seek to become leaders in their fields.
Through its undergraduate degree in hotel and tourism management, its graduate degrees in hospitality industry studies, tourism management, and event management; a plethora of Professional Pathways programs; and its world-renowned hospitality investment conference, students gain the knowledge and the skill sets that enable them to manage change, to communicate, to thrive in complex work environments, and to advance the businesses of hospitality, travel, and tourism. The Tisch Center recently launched the Hospitality Innovation Hub (HI Hub), which will foster entrepreneurship and creative solutions for the industries it serves. The state-of-the-art facilities offer students, start-ups, established industry partners, and investors opportunities to learn, discover, innovate, and invest.
For more information about the NYU SPS Jonathan M. Tisch Center of Hospitality, visit sps.nyu.edu/tisch.
About HEDNA
HEDNA (Hotel Electronic Distribution Network Association) is a not-for-profit trade association whose worldwide membership includes executives and managers from the most influential companies in the hospitality industry. Founded in 1991, HEDNA's mission is to be the leading global forum for advancing hospitality distribution through collaboration and knowledge sharing. Its vision calls for HEDNA to be known for creating an environment that fosters strategic collaboration toward business development in the global hospitality industry. For more, visit www.HEDNA.org or follow us on YouTube or LinkedIn for updates and additional content.