Interesting research recently released by Triptease following survey and usability testing with consumers into their browsing behaviour on hotel (and travel) websites. Hotel and travel websites have notoriously low conversion rates, so TripTease’s motivation in part is to find out what can be done to add just a percentage or two to that ratio.
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There is a business maxim I've found to be true that says "save costs and you save cents, increase revenue and you increase dollars". Integration between your Property Management System and your OTA's allows you to publish your availability in real-time rather than managing it manually and conservatively to prevent overbooking. You create the opportunity for every possible booking.