Some of the evolution that we are noticing with wholesalers and bed banks of late include:
- More efficiency > and increased focus on digitalization and automation – Wholesalers and bedbanks are investing more in technology to automate processes and provide digital interfaces for hoteliers to manage inventory and rates.
- More access to markets > more targeted distribution – Rather than broad distribution, wholesalers are being more targeted in promoting inventory to resellers and channels that focus on specific source markets, segments, etc.
- More control > flexible contracting models – There is a shift towards more flexible contracts between hotels and bedbanks that allow dynamic rate setting and easier adjustment of allotments or black-out dates.
- More personalised products > supporting demand for personalised experiences – Wholesalers are working to provide more customized packages and experiences to guests as many travellers look for more than just a room. Unique local experiences are increasingly valued.
- More reporting > focus on business intelligence – Wholesalers are getting better at collecting and analyzing data and providing hoteliers with business insights to inform better revenue management decisions.
Many wholesalers appear to be working towards true partnership and becoming more than just a high discount, low transparency channel.