Parity Monitor is the first phase of attempts to achieve 'incredibly challenging goal', by the global marketplace
ITB 20223: WebBeds aims for 'north star of eradicating rate parity discrepancies
WebBeds has developed a new tool for hotel partners which is says will put an end to rate parity discrepancies.
Parity Monitor is the first phase of a programme launched the global accommodation and ground transportation marketplace at ITB in Berlin this week.
WebBeds says it want to “streamline internal processes and improve the speed of resolving parity issues”.
The new tool “will establish the foundations for the development of future automated solutions, with the ultimate goal of achieving zero BRG (best rate guarantee) discrepancies through the WebBeds marketplace,” the firm added.
Parity Monitor will initially serve as a global hub where hotels will submit parity discrepancies to WebBeds.
It will be the front end for a streamlined internal processes that will track, monitor, report back and resolve rate discrepancies for hotel partners.
A dashboard will consolidate and display the status of any submissions, providing improved management reporting for hotels.
WebBeds has appointed a new centralised team that will be dedicated to resolving parity issues raised by the tool.
Daryl Lee, WebBeds chief executive, said “WebBeds is very aware of the frustrations that our hotel partners experience when there are rate parity discrepancies in 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 programme of work 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 but 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.”
Planned future developments of Parity Monitor include preventing parity integrity issues 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.