Cloudbeds publishes ‘Big Book of OTAs’
US: Hospitality management platform Cloudbeds has released data on the top performing distribution channels in a new free guide, entitled ‘The Big Book of OTAs: A Hotelier’s Guide To Top Distribution Channels’.
Among the key findings, Cloudbeds found that lodging businesses connected to at least six distribution channels saw an average revenue increase of 27 per cent in comparison to properties connected to only one channel.
Sebastien Leitner, vice president of strategic partnerships at Cloudbeds, said: “Online travel agencies exist to generate more opportunities for lodging businesses by connecting them with travellers. Our data over recent years has shown that modern lodging businesses need a comprehensive distribution strategy that includes both OTAs and solutions designed to drive direct bookings.
“Combined, the visibility and marketing spend behind the top OTAs position a property to win even more bookings, including direct. Cloudbeds has established relationships with the leading OTAs – large to niche – across the globe to give our customers a competitive advantage, reach target audiences and build a channel mix that boosts revenues,” he added.
Cloudbeds data continues to show the importance of properties being active on as many channels as possible to increase brand awareness and drive bookings. A Cornell study found that 93 per cent of consumers switch between different OTAs before making a final decision underscoring the importance of a broader distribution strategy.
The data also revealed Booking.com performed the highest for US-based lodging businesses, followed by Expedia and Airbnb, which skyrocketed in popularity across the globe.
More hotel businesses are increasingly adopting Airbnb as part of their channel mix, signifying the continued convergence of the hotel and short-term rental industries. Google Hotel Search also made it into the top ten channels, slowly climbing the ranks as one of the top-performing channels in the United States and Canada.
Over the past year, Cloudbeds says that it has worked to diversify its offerings to help lodging businesses build a strong channel mix by introducing new solutions designed to drive more direct bookings while simultaneously strengthening its partnerships with the leading OTAs. Cloudbeds was recognised as an Airbnb preferred software partner, Booking.com premier partner and Expedia Group preferred connectivity partner in 2022, enabling Cloudbeds properties the best possible access and connectivity to these critical distribution channels.
Download a free copy of ‘The Big Book of OTAs: A Hotelier’s Guide to Top Distribution Channels’ at this link.
Shane Robbins, director of product marketing at Cloudbeds, recently joined the ShortTermRentalz webinar on ‘Reducing pain points for property managers’ – watch the full recording of the session here.