What is the meaning / definition of Price Match Guarantee (PMG) in the hospitality industry?
PMG is short for Price Match Guarantee. It is something that all hotels seeking to seriously compete should consider offering. What’s more, consumers love it! Why? Because they can make reservations knowing that they are getting rooms and perhaps other services without paying more than absolutely necessary.
In Hospitality, hotel reservations, products, services and special offers are advertised and sold across numerous channels, including:
Hotels themselves – through offline printed marketing material, and internet promotion: their website, blog, online competitions, etc.
- OTAs – Online travel agencies, of which there is an abundance
- High Street travel agencies – still relevant, but always struggling against online agencies to win business these days
- Social Media platforms – Facebook, Twitter, YouTube…
- Online booking search engines
The channel that can offer the lowest rate, or match the lowest available rate, will, of course, generally win the business. If a hotel offers a Price Match Guarantee via its brand website (or printed marketing material), it will beat to the business other channels inside or outside its own distribution channel network. But only if it keeps its promise, of course!
- Price Match Guarantee