We are very proud to announce that Travel Tripper’s automated best rate guarantee feature, now known as Rate Match, was recently selected by Hotel Technology Next Generation (HTNG) as a finalist for their 2016 TechOvation Awards, which honor innovation in the hospitality technology industry. Read the full press release here.
What is Travel Tripper Rate Match?
Travel Tripper Rate Match is an integrated booking feature that helps hotels to combat rate parity issues with online travel agencies (OTAs). As users search for rates on a booking engine, Rate Match performs a price check with major OTAs—if the rate is lower elsewhere, Rate Match can automatically adjust the price to match the lower rate and make it instantly bookable on the hotel booking engine.
With Travel Tripper Rate Match, hotels will be able to modernize their best rate guarantee policies, increase direct bookings, and stay competitive among OTAs.
How does Rate Match work?
As Rate Match performs real-time price checks with the major online booking sites, hotels can better manage rate parity without the need for expensive rate-shopping robots.
Going one step further, Rate Match ultimately helps consumers make smarter decisions about booking directly. By offering complete price transparency by showing rates from competitor sites, this helps to build consumer confidence and trust.
But most importantly, Travel Tripper Rate Match does what no other price-checking widget can currently do: it offers an actual price match automatically. While other tools that find price disparities tell guests to call the hotel, Rate Match allows hotels to automatically set a price matching offer (for example, matching the lower rate and offering a 10% discount) and make this new rate instantly bookable.
Best rate guarantees have long been popular with hotels to help drive direct bookings. By making this process seamless and automated, particularly in the fast digitally driven world that we live in, this ultimately helps to boost conversions.
What’s the benefit of Rate Match?
Travel Tripper Rate Match has already successfully helped dozens of our current clients to earn thousands in additional revenue that might have been lost to the OTAs. One of these hotels earned $229,806 last year from price-matched bookings on Rate Match.
If those bookings had instead gone to an OTA, the hotel would have lost a considerable amount of revenue in commissions, which can range from 15-25%. For this particular hotel, Rate Match brought an additional $43,664 in profit to the hotel! Here’s how it works:
What does the future hold in store for Rate Match?
We’ve got some exciting new features and plans in the works for Rate Match, which we will be announcing this spring. In the meantime, if you’re a current client would like to install Rate Match into your booking engine, contact your client services manager today.
Not a current client but interested in learning more? Request a demo and one of our sales representatives will get back to you shortly.