Rate shopping

As you may have heard already, in late 2019 the OTA giant Booking.

Are you curious what daily prices are set by hotels in your area?

Determining what price to sell your hotel rooms at is of strategic importance to every hotel business. In economics, there is a proven direct relationship between pricing and the positioning of a company and its products, turnover, and market share.

When guests are out looking for the perfect price for their hotel room it’s important to grab their attention and get them to click, and book.

Any successful revenue management strategy requires the right market intelligence. With so many metrics involved, it is essential for revenue managers to have the full analysis of the key market conditions, including the main competitor’s room rates, their occupancy levels, the on-line user reviews as well as the overall demand levels for the period in the local area.

Pricing hotel rooms and producing a successful hotel pricing strategy can be difficult.

Never assume hotel or hostel prices are fixed. From a standpoint of a traveller, it is important to know the best prices whenever you book a room.

Pricing data is the fuel that powers your hotel revenue management strategy.

With so many hotel technology products on the market today, it could be a daunting task for the unsuspecting buyer to choose the best one.

What is rate parity? Rate parity is a legal agreement between a hotel and an OTA.

What is a hotel rate shopper? A rate shopper is a software solution used by hotel professionals to monitor room rates on the Internet.

A rate shopper is a software solution used by hotel professionals to monitor room rates on the Internet. Rate shoppers give revenue managers overview of the local market conditions to help them make pricing decisions and maximize revenue.

Everyone is familiar with over-exaggerated marketing claims across the Internet and the media: