| Let's start with the basic principal of defining how | | | | your search down to finding the best channel to |
| hotel price points are determined. Hotel product, for | | | | book those hotels. Although opaque sites that entice |
| the most part, is a very perishable item - even more | | | | shoppers with unidentified product prior to purchase |
| so than fruit in a grocery store. If it's not sold the | | | | can sometimes yield good value, don't be fooled into |
| night of, it goes to waste. Generally speaking, hotels | | | | believing it's the only means to finding the best price |
| will forecast targeted price points based on demand | | | | - typically the same product value is offered in a |
| towards their supply (based on seasonality, traffic | | | | disclosed fashion elsewhere. |
| generators such as conventions / attractions, and | | | | Remember that Google is your friend. Use it for |
| market conditions.) Typically, multiple distribution lines | | | | identifying on-line travel sites that may not be well |
| are allocated advanced inventory (ie. on-line resellers, | | | | known. Much like the model of Toronto Hotels, many |
| tour operators, airline crews, group blocks, etc) in | | | | destinations have boutique type resellers that are |
| order to generate a base occupancy where a residual | | | | local to the market, and, have intimate relations with |
| of total capacity is used to achieve a targeted | | | | the hotels they work with. Large markets such as |
| average rate. All of this formulating leads to like hotel | | | | Las Vegas, Orlando and Chicago have several on-line |
| product selling for variances that can be 300% in | | | | hotel stores that have access to distressed hotel |
| variance from top to bottom - meaning; that hotel | | | | inventory the usual suspects don't. Using Toronto |
| room that you bought for $250/night in downtown | | | | Hotel product as an example - there are over 30,000 |
| Toronto could sell through an alternate channel at | | | | units of inventory in the Greater Toronto Area |
| $100/night or less. Your goal of course is to be on | | | | (inclusive of airport, downtown and suburban |
| the $100/night or less side of the math. | | | | product) to be distributed on any given night. With |
| Don't be overwhelmed with the endeavor of finding | | | | that in mind, always know that in large markets there |
| the best price, and don't assume the first price you | | | | is no reason to settle on a price that you're not |
| see from a mega-travel site is even close to the | | | | comfortable with. |
| best deal. Check with the usual big-box on-line sites | | | | Lastly, ALWAYS check with the hotel you've settled |
| and/or use a meta-travel site and develop an | | | | on to ensure the rate you're about to book on-line is |
| understanding of the hotel market you're traveling to. | | | | in-fact one that cannot beat at the property level. |
| Identify a few hotels you're interested in and narrow | | | | Book smart! |