A new hotel distribution platform has launched that pays all reservations at time of booking, up to 390 days in advance.
Fastpayhotels is marketing itself as an “alternative B2B operator” that focuses exclusively on the sale of non-refundable rates. The company, backed by Spanish investors, launches with more than 2,000 hotels and says it is on track to expand to 6,000 hotels by the start of the summer season.
“Our new model modernises the relationship between travel agents, bed banks and hotels worldwide,” said Alex Gisbert, CEO of Fastpayhotels.
“Non-refundable pre-paid rates are already the cheapest option at most hotels and better value than BAR rates and even traditional tour operator rates. Fastpayhotels’ system, which pays at time of booking, enables agents to have access to what is undoubtedly the best price for any hotel stay.”
The company offers online registration to travel agents as well as hotels. Hotels that sign up could be on sale and receiving payment within 48 hours, which Fastpayhotels claims is an “industry first”.
“Market dynamics have changed. Slow paying bedbanks, incorrect use of rates on metasearch sites and inability to access the cheapest rates at each hotel puts the competitiveness of travel agencies at risk in the long term. Fastpayhotels proposes a simple approach: if we improve the commercials for hotels, we will be able to offer better rates and availability to customers,” Gisbert concluded.