Hotel distribution platform Fastpayhotels has announced a partnership with hotel revenue management firm TravelClick.
The deal will mean B2B platform Fastpayhotels – which pays for all hotel reservations at the time of booking – will provide the 5,000 hotels using TravelClick Channel Management with the prepaid service payment for their rooms up to 390 days in advance of stays with no refunds or cancellations.
Alex Gisbert, co-founder and chief executive of Fastpayhotels, said the partnership was crucial to global growth plans.
He said: “The Fastpayhotels B2B model continues to penetrate key hotel markets around the world. Adding the thousands of hotels that utilize TravelClick’s Channel Management product helps us expand our reach and provides hotels with a critical way to capture revenue at the time the booking is made as opposed to after the traveller completes his or her stay.
Jerome Wise, vice president of enterprise at TravelClick added: “Our goal is to help hotels drive revenue and know, acquire, convert and retain guests. As part of this mission, we understand the importance of leveraging dynamic distribution and rate technology and removing the pain of cancellations.”
Since its launch into the market earlier this year, Fastpayhotels has been adopted by more than 5,000 travel agents and more than 10,000 hotels in 70 countries.
Its model centres exclusively around prepaid, non-refundable rates, which Fastpayhotels says are now cheaper than Free Independent Traveller rates or Best Available Rates, contributing to 40 percent of reservations made through travel agents.
Wise added: “The travel market is continuously changing, and the hotel distribution and wholesale model is evolving. Fastpayhotels is an exciting channel that will help hotels to improve their online revenue and profitability.”