By Stephanie Smith
With the amount of uncertainty in the world due to COVID19, now more than ever hotels must fight for every dollar!
There is no easy reservation today. One of the most overlooked ways hotels can reduce their losses is by ensuring the correct tax rates are reflected on both your own website and all Online Travel Agency [OTAs] websites. Although seemingly intuitive, the review process is often ignored and forgotten. Once implemented, hotels are instantly guaranteed a few cents per reservations – which can really add up over time!
Do a Tax Audit Against Your Own Hotel Website
Check with your finance department on what the precise local/city/state tax rates currently are. This surprisingly is not as clear cut as you might think.
Shop your hotel’s website for the displayed tax rates. Do NOT assume your own website is calculating taxes correctly. Look at the breakdown of the various taxes.
Then, do the same on the major OTAs. We suggest Booking.com, Expedia, Priceline/Agoda and HotelTonite to start. If everything matches up against your own website, you are in good shape!
Updating your Hotel Tax Rates on the OTAs
For top branded hotels companies like IHG, Hilton and Marriott, if the tax rates are left incorrect on OTAs, there is a good chance the financial statements may look off with no explanation. Fortunately, even with the global pandemic, there are a few simple steps these hotels are able to take to save thousands.
Booking.com Tax Updates HOW TO:
* They typically respond to requests within 72 hours, sending a message back that the update has been done and/or if they need more information regarding the update.