Tourvest unveils Rate Guarantee policy
Tourvest Destination Management (TDM) are proactively identifying suppliers that are deliberately ignoring the travel distribution channel and undercutting tour operators.
TDM CEO Martin Wiest confirms that the company will be launching a Rate Guarantee policy to “keep suppliers honest” and ensure they are treating all elements of the travel distribution channel fairly.
TDM has acquired a software system that accesses hotel aggregators, OTAs and other online portals for rates and compares these to those offered to its partners.
Overseas tour operators partnering with TDM will be able to see what the company is offering them in comparison with what other suppliers are offering. The Rate Guarantee policy will pertain to what OTAs are offering, not what other inbounds are offering, and we will at minimum, match the rate provided the same terms and conditions are present.
The initiative will also give TDM the ability to negotiate better and keep rates at a competitive level.
Monitoring TDM’s Guaranteed Rate policy will help it better identify products that are repeatedly proving to be challenging, and thereby reviewing its distribution and purchase decisions around that.