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  1. Based on the World Travel and Trade Council report dated March 2018, travel and tourism contributed 8.2 trillion to GDP in 2017. By 2028, that figure is forecasted to rise by 3.8% per annum to 12.45 trillion. Looking at those numbers, tour and travel is a huge industry and it will continue to grow. It is only expected that competition is stiff, especially in the rooms segment. Hotels not only compete amongst themselves, they also compete against traditional hotel room wholesalers, bed banks and online travel agents. It also more profitable if a guest books via a hotels website or direct channel because of two main reasons. The first reason is, bookings via direct channels do not cost as much as bookings via online travel agents where there is the room rate is commission-able. The second reason is, locking a guest in a loyalty program opens the possibility of repeat stays. Most major hotel chains ensure the room rates that are sold on third party websites, are either the same or higher than their own websites. To give their guests the confidence that they will always be getting the best room rate through the hotel's website, Best Price Guarantee was devised. Below is a list of hotel chains and Best Price Guarantee benefits. Hilton Hotels and Resorts Match the lowest rate with an extra 25% off. Hilton's Best Price Guarantee terms and conditions. Marriot International Match the lowest rate with an extra 25% off or 5,000 Marriot Rewards points. Marriot's Best Price Guarantee terms and conditions. InterContinental Hotels Group (IHG) Match the lower rate and 5 times IHG Rewards Club points up to 40,000 points. IHG's Best Price Guarantee terms and conditions. Hyatt Hotels Match the lower rate and $50 credit for your next stay. Hyatt's Best Price Guarantee terms and conditions. Wyndham Hotel Group Match the lower rate and 3,000 Wyndham Rewards bonus points. Wyndham's Best Price Guarantee terms and conditions. Choice Hotels Match the lower rate and U.S citizens get $50 Reward Card. International guests get one night free. Choice Hotel's Best Price Guarantee terms and conditions. Accor Hotels Match the lower rate with an extra 10% off. Accor's Best Price Guarantee terms and conditions. Radisson Hotel Group Match the lower rate with an extra 25% off. Radission's Best Price Guarantee terms and conditions.
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