Introducing value adds solutions
10-10월-2024
- Boost properties’ average daily rate (ADR) with higher-value bookings
- Empower your properties to create value add bundles and elevate guest experience
- Improve your competitiveness in the market
In markets with high occupancy rates, property managers and hoteliers are increasingly looking for ways to optimise current revenue streams, and value adds provide a great way to do exactly that. Offering value added rate plans alongside standard ones can significantly increase average daily rate (ADR) – the average revenue a property earns per night for each room that has been booked. Our data shows that nearly half of properties that offered both options experienced up to an 11% ADR boost for at least one of the rooms booked with value adds.
That’s why we’re introducing value adds solutions, which enable guests to easily book the products and services they need in advance. Our solutions give properties the flexibility to create special offers that attract more guests, sell remaining inventory and maximise revenue.
What’s new?
We are launching three different Connectivity solutions, which support you and your properties in creating and managing a growing selection of value adds:
Bundled value adds
This feature is part of our Room and Rate Plan Management APIs and enables properties to create, edit and delete value add bundles. These bundles consist of value adds that can be attached to existing or new room rates and are bookable on our platform.
Reservations value adds
This feature is part of our Reservations API and enables properties to receive updates with detailed information on any value add bundles being booked. This feature is particularly important as it also enables your properties that have created value adds directly in the Tripeden.com extranet to receive these updates when those value adds are booked via our platform.
Value adds catalogue API
This standalone API enables you and your properties to pull a refreshed list of the value adds offered on our platform. This ensures that your properties are able to continually create new and attractive bundles as we regularly expand our value adds offering.
Why is this important?
- In the past 12 months, six out of ten online travellers booked two or more extras on our platform, demonstrating that demand for added services is already strong.
- 81% of hoteliers expect a big shift in terms of hospitality services by 2025 and 49% of them strongly agree that special amenities and upgrades are critical to their revenue strategy.
- 71% of travellers consider booking a package consisting of accommodation and extra services in the next 12 months.
*Source: Tripeden.com data up until August 2023.
How value adds benefit your properties
- Enhance guest offerings
Value adds give properties the opportunity to enrich their guest offerings by allowing them to purchase additional products or services – like parking, transportation or spa treatments – when booking their stay. These added benefits are seamlessly integrated into properties’ existing or new rate plans, making it easy for guests to recognise the enhanced value.
- Boost properties’ average daily rate
Offering value added rate plans alongside standard ones can significantly increase your properties' average daily rate (ADR)*. Our data shows when both options are presented, on average, 40% of total room nights are booked with value added rate plans. Accommodation partners who received these bookings have seen up to an 11% ADR boost, as the additional benefits are factored into the overall pricing.
- Enable properties to elevate guest experience
Value adds enable properties to create offers that resonate with their guests’ needs, enhancing the value of the booking and improving guest satisfaction. This helps to ensure properties continue to attract travellers who increasingly demand a more comprehensive booking experience.
How value adds benefit you
- Enable properties to perform better
Value adds are an important way for properties to increase ADR and grow their revenue. Offering this solution is a way of enabling new revenue streams within the evolving hospitality landscape and supporting future revenue growth.
- Empower properties to showcase special offers
Value added rate plans enable properties to create unique offers as needed in order to attract more guests. This also helps them to make any unsold inventory more attractive, thereby boosting bookings via your platform.
- Enhance your offering
You can increase your properties’ operational effectiveness by enabling them to create and manage value adds directly through your platform. This comprehensive solution to a growing demand in the travel market strengthens your own competitiveness.
Our new value adds solutions are an important tool for capturing growing traveller demand for enriched bookings. They also offer an ever-improved guest experience, which helps build future demand. Implement now to help boost your properties’ bookings and your business.