| Combined with the current development situation,this paper analyzes the OTA industry chain and revenue,and elaborates and studies the characteristics of OTA enterprises' two-sided market from five aspects:network externality,interdependent demand attributes,customer attributes,product differentiation,and critical mass.In terms of time dimension,this paper expounds the different competition strategies of OTA from low-price competition to horizontal merger,and explains the internal reasons for the changes of its competition strategies from the perspective of bilateral market,which is different from the perspective of One-sided market.Based on the existing OTA collection and hotel business,this paper summarizes the current OTA vertical constraint strategies for hotels in detail:namely the best price clause,non-linear pricing,RPMand exclusivity agreement.Based on these facts,this paper establishes a two-stage game model of OTA and hotel under different competitive environments,and takes the contract as the specific basis for modeling,which is the innovation of this paper different from previous studies.Subsequently,this paper also carried out case test and data test on the conclusion obtained from mathematical derivation of the model,and the results were consistent with the theoretical derivation model.And four key conclusions are summarized in this paper:the commission ratio of OTA to hotels will increase with the increase of their market power and the number of loyal customers,and will decrease with the increase of consumers'sensitivity to platform price and platforms,substitutability.Accordingly,the online price offered by the hotel to OTA and the offline pricing strategy offered by the hotel to customers also change along these four factors.Finally,based on the model conclusions tested by data analysis,the author puts forward five suggestions on OTA's vertical constraints for hotels and competition strategies to help OTA maximize their profits. |
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