Saturday, May 18, 2024

SiteMinder deepens partnership with Trip.com amidst Chinese travel boom

Must read

SiteMinder, the software platform provider supporting hotel businesses, has announced it has deepened its partnership with global online travel agency, Trip.com.

Building on a decade-long collaborative relationship, the newly strengthened strategic alliance came to light amidst the resurgence of the outbound Chinese travel market.

The recent boom in bookings from China to SiteMinder’s network of 41,000 hoteliers was recorded an impressive 75% increase from the previous year during the first quarter of 2024. Moreover, the average daily rate of these reservations was significantly higher by 10 percentage points compared to the global average. In contrast, the average lead time for these bookings cut down by 62%, suggesting a low price sensitivity and a short-notice travel outlook characteristic of Chinese tourists. SiteMinder’s Changing Traveller Report in 2023 corroborated these findings, noting that Chinese travellers were the world’s most price-resilient.

As part of the reinforced partnership, Trip.com agreed to partake in SiteMinder’s new Channels Plus initiative, a program designed to ease distribution for hotels by offering access to numerous distribution channels via a single platform, thereby expanding hoteliers’ inventory for a wide range of world-class travel services.

Monica Xiao, Chief Executive Officer of Accommodation Business Group at Trip.com Group said, “There is a clear indication that the outbound Chinese traveller market is rebounding, and we are delighted to take our partnership with SiteMinder to the next level… to ensure that more hotels around the world have the opportunity to capitalise on a strong revenue stream.”

This development happens against the backdrop of a rapidly evolving travel landscape that compels hotel owners to rethink and expand their revenue streams. SiteMinder’s Chief Executive Officer and Managing Director, Sankar Narayan, recognises the significance of deepening ties with a globally reputed and innovative company like Trip.com that caters to a vast audience.

SiteMinder boasts an expansive network of more than 2,150 partners, including distribution channels like Trip.com, hotel applications, management systems, and hotel consultants, making it the largest hotel ecosystem on a global scale. Consequently, this endows SiteMinder with a unique capacity to simplify distribution channels for hotels. Owing to this, the company’s Channels Plus initiative continues to gather momentum among premier travel brands.

SiteMinder’s pilot for the scheme is currently accessible to around 1,000 hotels, with plans to extend it gradually before its general release later this year. It has also attracted sizeable registered expressions of interest and has secured agreements from 14 distribution partners.

Latest article