Dynamic pricing - a strategy in which prices continuously change based on algorithms that take into account demand and other external factors - is not new to the hotel industry, but its use is somewhat fragmented and inconsistent.

Part of the challenge is that technological improvements have added transparency to pricing. Guests believe this gives them more control over the rates they pay, but the complexity of the market actually makes it even more of a quagmire to wade through, sources said.

However hoteliers adjust pricing strategies, online travel agencies will remain part of the mix, and continue to be valued partners with hotels in many instances.