Europe gains pricing control as hotels tackle rate parity

European hotel market leads in price parity, outperforming OTAs and metasearch engines with more aggressive pricing

Compared to hotel markets in Asia and the Americas, Europe improved its pricing during the "Peak" season - between October 2023 and October 2024 - with over 48% of direct rates outperforming third-party channels. This represents an uptick in success from 2023, when hotel rates only outperformed OTAs during the "Somewhat Busy" and "Not Busy" seasons.

Key takeaways

• The ranking of top performing cities worldwide in October 2024 is also owned by Europe, with Paris achieving the best direct rates at 67.3%, followed by Lisbon (66.56%);
• The top performing cities worldwide in October 2024 were Paris (67.35%), followed by Lisbon (66.56), Palma de Mallorca (66.02%), Barcelona (62.22%) and Venice (61.91%);
• At the other end of the spectrum, Macau, Las Vegas and Zurich have experienced increased competition from OTAs this year, with properties in Ho Chi Minh City losing 54.8% of rates to OTAs, consistent with 2023.

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