Siteminder Teams with Fastpayhotels
New hotel distribution platform Fastpayhotels has today partnered with hotel industry cloud platform, SiteMinder, to meet a growing demand from the hospitality industry for reservations to be paid at the time of booking. The partnership makes Fastpayhotels the only channel available through SiteMinder’s Channel Manager that provides hotels payment at time of booking for their rooms, up to 390 days in advance of stays and with no refunds for cancellations.
Alex Gisbert, co-founder and CEO of Fastpayhotels, says that due to the B2B platform’s focus on dynamic rates and with ninety-nine percent of Fastpayhotels’ sales currently going through channel managers, it was an obvious decision to integrate with the hotel industry’s largest channel management platform.
The role of travel agents today is at risk as hotels look to move away from slow-paying bedbanks, booking websites that display incorrect rates because they can’t be updated in real-time, and the inability to access the lowest room rates.
Since its launch into the market earlier this year, Fastpayhotels has been adopted by more than 280 travel operators and more than 4,000 hotels in 21 countries, including Spain, where it quickly attracted local investors and is based in Palma de Mallorca.
Fastpayhotels’ model modernizes the relationship between hotels, travel agents and bed banks by replacing static, out-of-date rates with dynamic rates and availability. The model centers exclusively around prepaid, non-refundable rates which Fastpayhotels says are now cheaper than FIT (Free Independent Traveler) rates or Best Available Rates (BAR), and contribute to forty percent of reservations made through travel agents.
Alex Gisbert, co-founder and CEO of Fastpayhotels, says that due to the B2B platform’s focus on dynamic rates and with ninety-nine percent of Fastpayhotels’ sales currently going through channel managers, it was an obvious decision to integrate with the hotel industry’s largest channel management platform.
The role of travel agents today is at risk as hotels look to move away from slow-paying bedbanks, booking websites that display incorrect rates because they can’t be updated in real-time, and the inability to access the lowest room rates.
Since its launch into the market earlier this year, Fastpayhotels has been adopted by more than 280 travel operators and more than 4,000 hotels in 21 countries, including Spain, where it quickly attracted local investors and is based in Palma de Mallorca.
Fastpayhotels’ model modernizes the relationship between hotels, travel agents and bed banks by replacing static, out-of-date rates with dynamic rates and availability. The model centers exclusively around prepaid, non-refundable rates which Fastpayhotels says are now cheaper than FIT (Free Independent Traveler) rates or Best Available Rates (BAR), and contribute to forty percent of reservations made through travel agents.