As 2022 marks OTA Insight’s tenth anniversary, today marks another important milestone in our journey. We are delighted to share that we have joined forces with and acquired Transparent, a market-leading provider of data and business intelligence for the rapidly growing vacation rental industry based in Madrid, Spain.
Since we founded OTA Insight back in 2012, we’ve made it our mission to help the hospitality industry visualise and leverage data to improve their commercial decision making, providing hospitality business intelligence to more than 55,000 hotels and hospitality partners. In the aftermath of the pandemic, and as travel continues to rebound, we are dedicated to serving the changing needs of the travel and hospitality ecosystem, and firmly believe that actionable, high-quality insights deliver a real commercial advantage to our customers.
Adapting to new travel trends
Over the past two years, there has been a massive disruption in the travel industry. Traveller patterns and market dynamics have changed, and we can no longer rely on historical trends and legacy technology to support the hospitality businesses of the future.
For example, vacation rental demand increased in a big way during the pandemic as the perceived 'safer way to travel'. The growth opportunity for vacation rental properties continues with the ‘return to travel’ with Airbnb recently announcing they would need ‘millions more hosts’ to satisfy demand after a record quarter.
This new trend (among a host of others) has led to a dramatic shift and convergence in the hospitality industry and it's impossible to ignore that both hotels and vacation rental hosts are increasingly competing for the same traveller.
Comprehensive industry insights providing exciting opportunities
That’s why we’re so excited to be teaming up with Transparent, whose customers have been relying on the more than 35 million listings tracked across the globe to strategise and optimise their revenue. Since their founding in 2016, Transparent has been empowering businesses in the vacation rental industry to inform their decisions and drive revenue growth based on granular market data and insights.
So, what does this all mean for you? Just like OTA Insight, Transparent prides itself on offering actionable data that helps to optimise the revenue of a property listing, giving insights into the market and competition, and allowing revenue managers to make smarter decisions.
There is an enormous opportunity ahead to provide enriched insights based on the convergent trends between the hotel and short-term vacation rental industry, and we plan on building a unified platform that serves the needs of hotels and short-term rental providers. Together OTA Insight and Transparent will combine vast amounts to provide insights on ‘new’ traveller demand patterns. This means, you’ll be able to make better commercial decisions that yield more revenue.
Optimism in the vacation rental space
If the pandemic has taught us one thing, it’s that the old way of doing business as we knew it has changed forever. The market has changed, and we can no longer rely on pre-pandemic business models and assumptions. Our industry has seen accelerated growth of the vacation rental space, and increasing demand from both leisure and business/bleisure travellers, and we are incredibly bullish about the future in this space. For example many accommodation providers have had to adapt to these shifting market conditions, with hotel chains now venturing into the short-term rental market. This trend is only expected to increase over the next few years. By joining forces, OTA Insight and Transparent will further consolidate our positions as market leaders in our respective spaces.
At OTA Insight, we share the same vision, the same values, and the same dedication to high quality data, product innovation and world class customer service - our solutions deliver a really positive and meaningful impact to our customers. We are passionate about delivering game-changing tools and the support to go with it. Together, Transparent and OTA Insight customers can continue to rely on our innovative products and world-class customer support. As our market and industry continues to evolve, we have an exciting roadmap planned for 2022 and beyond. We have so many opportunities to build on, which will ultimately benefit our customers.
To your continued success,
Sean, Gino, Matthias, and Pierre