Fastpayhotels launches Rate Control Plus.
This new initiative aims to secure price control for hotel B2B distribution
Example of a hotel with a rate disparity on Google.com
Palma – 5th August – Fastpayhotels, the global B2B accommodation distribution business, announced today the launching of Rate Control Plus, a new technology suite for the next generation of rate distribution control. This represents a major step forward on what is a significant pain for the industry, hotel direct sell and revenue management.
After 6 years since its inception, Fastpayhotels now trades with over 300 chains around the world including 10 of the 12 largest hotel chains globally. The formula of only working with hotels using dynamic rates and direct integrations has ensured Fastpayhotels is now a preferred distribution partner for many hotels around the world. Control of rates and how they are distributed have seen major improvement as hotel chains have migrated to static rate distribution, however the pandemic has driven another sharp increase in pricing issues.
¨ The Covid era has been a trend accelerator on what we have seen in the past years. Dynamic rates are now the norm for B2B distribution, but pricing issues continue as both hotels and distribution partners are still connecting dynamic rates with little more than ¨hope¨ to ensure rates are distributed correctly¨ said Alex Gisbert, CEO Fastpayhotels. ¨Global chains have even looked to reduce and curtail their distribution of rates by signing exclusivity with dominant OTAs to overcome what is fundamentally a technology issue and therefore cutting their nose to spite their face.¨
Fastpayhotels Rate Control Plus technology comes at no extra cost to hotels and is able to secure full rate plan distribution control once set up is complete.
Elodie Leunen, Deputy CEO and CTO states: “Despite digitalizing their rates, many chains are losing control of how their rates are being distributed, being abused too often. We have developed Rate Control Plus in house, and we can see that it will be a major game changer in the industry. We have been piloting this technology with initial beta partners and both customers and suppliers have responded positively to this change. It just makes everyone´s life easier at no extra distribution cost.
Fastpayhotels have multiplied by 3 its direct contract accommodation relationships since 2019 and is currently adding over 1000 hotels a month to its platform.