The major advantages of working with OTA Channels is that it helps you in expanding your property’s global reach and increase online bookings. A logical move is to integrate your OTA with your PMS.
Direct integration between your PMS and your OTA channels will help you in :
1) Save a lot of time by managing your OTA reservations by centralizing and automating the process through your PMS.
2) Improves real-time accuracy of availability and rates, maximizing online revenue while greatly reducing the risk of double-booking.
To increase your online revenue through OTA channels ensure the following details:
1) Make sure that your listing features a full description
2) A complete amenities list and pretty pictures
3) Make certain your rates and packages are competitive and current
4) Work with your OTA account manager to improve your listing’s performance
5) Stay on budget.
Online travel agencies (OTAs) like Expedia and Booking.com are responsible for a large chunk of online room reservations.They also demand 10 – 25% commission fees. The consumer reach of an OTA is far and wide that an independent hotelier can only dream of. Websites like Expedia.com, Booking.com, and Hotwire.com have developed powerful brand recognition and appear at the top of Google search results. It’s hard for an independent hotel’s website to compete with that. Building relationships with OTA channels can be beneficial and worthwhile. When commission payments matters the dependency on OTAs is detrimental to independent hotels. To know more about the commissions in vacation rental industry read our blog on Commission Matters: Typical Commissions in Vacation Rental Industry.
Tips for optimizing your OTA listings:
1) Photos: Include images to give viewers a visual experience.Pick the best photo for your listing’s profile picture/thumbnail etc.
2) Full Descriptions & Amenity Lists: Make sure property and list of amenities are complete and highlight all the main assets.Do ensure information is accurate; and avoid false promises which results in disappointed guests and bad reviews.
3) Great Rates: Rates and packages offered through your OTA must be competitive and current.
4) Talk to your OTA Market/Account Manager: They can provide valuable insight and strategies to maximize profitability.They also help to develop successful packages.
5) Manage Your Budget: Cap your property’s daily/weekly/monthly OTA spend so you don’t blow your budget in the blink of an eye.
A balance between OTA spend and the rest of your marketing strategy is the key to success. The main goal is to maximize bookings across all your online channels. Let’s talk about your challenges in Vacation Rental Channel Management. Please drop your email-id and a message for our consulting team. We will contact you instantly.
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