Worldwide: Cloud-based business intelligence company OTA Insight has launched Rate Insight+, a commercial tool which combines hotel and short-term rental data into one platform.
The new short-term rental data will be available as an upgrade to the core Rate Insight product. Rate Insight provides real-time rate information on competitors’ pricing strategy, featuring insights on rates, ranking, reputation, and occupancy.
Rate Insight+ will now provide hoteliers with a consolidated overview of short-term rental and hotel pricing in a singular platform.
Sean Fitzpatrick, CEO of OTA Insight, said: “With the majority of booking sites offering both hotel and short-term rental accommodation, market convergence is accelerating, and traveler habits are changing.
“Our data science team has surfaced some powerful insights to help hoteliers understand the impact of short-term rental properties in their market on their commercial strategy. We’re excited to introduce Rate Insight+, the first solution of its kind in the industry.”
Fitzpatrick added: “Rate Insight+ enables hoteliers to take a comprehensive approach to analyse their market, understand the impact of short-term rental supply, and gain a competitive advantage.”
In March 2022, OTA Insight acquired vacation rental market intelligence company Transparent. Transparent aggregates data on more than 35 million listings across the globe, sourced from both proprietary and public platforms including Airbnb, Vrbo, Booking.com and other industry partners.