The hotel industry is constantly changing, and evolving as technology evolves. That means that our pricing strategies, operations and overall business goals need to change as well. But because it can be tough to stay on top of what's new, I have put together this quick overview of the top three new online sites that will have a big effect on hotels' revenue management strategy and revenues.
BackBid
According to their website, Backbid is a "hotel booking website that revolutionizes how travelers book hotel rooms. BackBid empowers you, the traveler,
to find the best possible hotel room, for the best price, with no elaborate or time-consuming searches necessary. By posting your existing hotel reservation to BackBid, hotels are able to see your travel plans and offer bids for your business, offering either discounts or value-added services, like upgraded rooms, free parking or breakfast."
In plain ol' English, what does this mean? After booking a hotel stay with another property through the customer's channel of choice, they post their reservation details to the site (including star rating, price, room type, special needs, etc.). Hotel members can then see which BackBid users are coming to their area (based on the reservation that they already have) and can create a customized offer to entice the traveler to cancel their current reservation and rebook with them. BackBid bookings are done directly through the site, but cancellations must be handled directly by the traveler.