RateGain with NYU and HEDNA Creates a Report For Benchmarking the State of Distribution

RateGain Travel Technologies Limited (RateGain), a leading provider of AI-powered SaaS solutions for travel and hospitality, announced the release of a groundbreaking report titled “The State of Distribution for 2024.”

Collaboration for Industry Insight

This first-of-its-kind report is a collaborative effort between RateGain, the NYU School of Professional Studies Jonathan M. Tisch Center of Hospitality (NYU SPS Tisch Center) and its Hospitality Innovation Hub (HI Hub) Experiential Learning Lab, and HEDNA. The report’s primary objective is to empower hospitality industry leaders with valuable data and insights for strategic decision-making.

Traditionally, commercial teams in the hospitality sector haven’t enjoyed the same level of resources and guidance as their counterparts in other industries. These teams often lack access to well-defined standards and benchmarks when making technology investment decisions. “The State of Distribution for 2024” aims to address this critical gap by providing a comprehensive overview of the current hospitality distribution landscape.

Extensive Research, Actionable Insights

The report leverages primary research conducted from December 2023 to May 2024, encompassing data from over 11,000 hotel properties across diverse regions. This comprehensive data set offers valuable insights for a wide range of stakeholders, including commercial teams, students, hotel management companies, and anyone interested in understanding the evolving dynamics of hospitality distribution.

Key Findings to Guide Decision-Making

The report unveils several key findings that can significantly impact strategic decisions within the hospitality industry. Here are a few highlights:

• Prioritisation of Ease and ROI: For hoteliers, ease of implementation and a clear return on investment (ROI) remain the top two factors influencing technology solution selection.
• Investing in Tech Skills: Investing in technology training for staff is a crucial area of focus across all hotel types. Large chains prioritise comprehensive training programs, mid-size chains emphasise high-impact training for ROI, and independent hotels concentrate on maximising the use of critical systems.
• Intent Tracking Challenges: Effectively tracking guest intent remains a major challenge, with 50% of hotels lacking the capability beyond basic website and social media analytics.
• The Burden of Reporting: Hoteliers dedicate a significant amount of time (25%) to reporting tasks, with many identifying it as a key area burdened by manual effort.

A Valuable Resource for the Industry

“The State of Distribution for 2024” serves as a valuable resource for hospitality industry leaders. The comprehensive data and actionable insights empower them to make informed decisions regarding technology investments, organisational restructuring, training programs, and overall distribution strategies. With this knowledge, hoteliers can navigate the evolving distribution landscape and optimise their strategies for success in today’s competitive environment.

“The hospitality industry has evolved tremendously, from manual reservation systems to cutting-edge technology solutions. Yet, one thing remains constant: the need for a comprehensive understanding of distribution challenges faced by hoteliers. That’s why RateGain, in partnership with HEDNA and New York University, has developed a groundbreaking State of Distribution Report,” said Peter Strebel, President (Americas) at RateGain.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.