Fastpayhotels has launched as a new hotel distribution platform and an alternative B2B operator that pays all reservations at time of booking, up to 390 days in advance. The business focuses exclusively on the sale of non-refundable rates.
The company, backed by Spanish investors, launches with over 2,000 hotels and is on track to offer over 6,000 hotels to the trade at the start of the summer season. Fastpayhotels has hotels contracted in over 21 countries and is headquartered in Palma de Mallorca, Spain.
“Our new model modernises the relationship between travel agents, bed banks and hotels worldwide,” said Alex Gisbert, Chief Executive, who was previously International Managing Director at the Lowcosttravelgroup. “Non-refundable prepaid 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.
“Market dynamics have changed. Slow paying bed banks, 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.”