SINGAPORE, 7 March 2023: WebBeds, a global marketplace for the travel trade to book hotels and travel products, launched on the eve of ITB Berlin, 7 March, the first phase of a programme that will reduce rate parity discrepancies to zero.
WebBeds has launched a new online tool for their hotel partners, called “Parity Monitor”, as the first phase of a major initiative within the company to streamline internal processes and improve the speed of resolving parity issues.
This new tool will establish the foundations for future automated solutions, aiming to achieve zero BRG (best rate guarantee) discrepancies through the WebBeds marketplace.
The Parity Monitor tool will initially serve as a global hub where hotels submit parity discrepancies to WebBeds. This new tool will be the front end for the newly streamlined internal processes that will track, monitor, report back and quickly resolve rate discrepancies for hotel partners.
A simple dashboard will consolidate and display the status of any submissions, providing clarity and better management reporting for hotels. WebBeds has created a new centralised team dedicated to resolving parity issues raised via the Parity Monitor.
Future developments of the Parity Monitor will include incorporating technology solutions to prevent parity integrity issues from occurring in the first place, proactive scanning of the market for rate discrepancies, automated identification and rectification of parity issues, enforcing minimum selling price and tracing opaque rates with buyers across all sales channels.
WebBeds CEO Daryl Lee said: “WebBeds is very aware of the frustrations that our hotel partners experience when there are rate parity discrepancies in the market. Hotels want rate parity to be strong and consistent, particularly given the strategic priorities within their business ecosystem. This new tool is just the start of a work programme to develop automated technology solutions to proactively prevent, detect and resolve rate parity issues in real time. Achieving zero rate parity discrepancies is an incredibly challenging goal. Still, we want this aspiration to serve as our “north star” internally, to provide focus and drive excellence from our teams. Anything less than this would fall short of expectations our hotel partners have of us.”
Launched in 2013, WebBeds aggregates and merchandises accommodation and destination services from travel suppliers, distributing them to a global network of travel trade buyers who sell to the travelling public.
WebBeds operates globally through four geographic regions – Europe, Asia Pacific, MEA (Middle East and Africa) and Americas – with over 1,500 travel professionals working in 120 cities across 50 countries worldwide.
It also operates specialist brands JacTravel DMC and Umrah Holidays International. JacTravel DMC provides tailor-made travel arrangements for offline FIT and groups travelling to the UK, Ireland and key mainland European destinations to the international travel trade. Umrah Holidays International is a pioneer in providing online pilgrimage travel services to travel agencies worldwide.