With decades in the business, we have experienced the struggles of both hoteliers and guests. Hotels lose an annual $446 billion in booking abandonment, so we have stepped in to show them how to solve the problem.
While 80 percent of customers are prepared to book when they visit a hotel’s site, only 3 percent actually complete their checkout. Instead, they finish their bookings on OTAs, which they consider faster and more secure. At the moment, only 45% of hotel bookings are made directly. This plagues hotels by forcing them to pay a 20 percent commission, averaging a loss of $90 per transaction.
Of course, hoteliers do not want to lose out on that 20 percent; but how do you stop it? To get guests to book directly on your site, you need to incentivize them.
Regardless of cost and location, guests want to feel like they are getting the best deal. So, the first step is ensuring that you are offering discounts and rewards that they won’t be able to find anywhere else. Next, offer instant financing. Hotel stays can sometimes be an intimidating cost, but offering 0% APR financing will make guests more comfortable in completing their bookings.
Throughout the process, ensure that their checkout experience is as quick and easy as possible. By utilizing AI tools and terabytes of customer data, the forms can be completed for them so they don’t have to spend any time of their own. That way, it can be as fast and comprehensive as possible. Instead of the average 2–3 minute booking process, now bookings only need to take 12 seconds.
Finally, guests want to feel as if their transactions are secure, and want to book on the site that they feel is the safest. So, make sure that you are offering this peace of mind. Biometric verification fights against fraud, making the process safer for both hoteliers and guests. This can be done via iris scan, Face ID, or fingerprint — all from a mobile device! Plus, tokenization technology can ensure that every single transaction is safe and secure, so hoteliers never have to worry about data breaches, and guests do not have to be afraid of having their information compromised.
With SwayPay, you can offer all this to your guests, ensuring they will book direct — so you can keep that 20 percent. We guarantee an increase of 15% in booking conversions, saving hotels hundreds of thousands.