Following your competitors' rates can help you understand how your hotel is behaving compared to the market, giving you the chance to improve your strategies and conversion.
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What you will find here
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Where does RateBoard get the competitors' data?
The competitors and market data shown in RateBoard are provided by OTA Insightour Rateshopper, the data is shopped on the booking.com website. You can follow up to 10 competitors, the data will be shopped daily or 2 times a week:
Daily: for the next 90 days
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This will be done by our team once you start using RateBoard. |
Before add adding any competitors, you need to set your hotel as the reference rate and market demand. You can do that by searching your hotel’s name in the OTA Hotels search bar, and then clicking click on RATES and DEMAND to select your hotel.
Once you do that, you will be able to see that “Own OTA rates” and Market demand” are set to your hotel and you can start following your competitors (up to 10).
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Before you start, make sure that your hotel is set as the reference for “Own OTA rates” and Market demand”. If not, check how to set it up. |
During the onboarding process, you will be asked to provide a list of competitors (up to 10) to your Revenue Manager, that will pass it to OTA Insight. Afterwards, you can easily update the list, by adding or removing competitors.
Add
Search for the hotel’s name in the OTA search bar;
Click on the + button to add the competitor to your list.
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If the hotel doesn't come up in the provided list, it is currently not shopped by OTA Insight. In this case, please reach out to your Revenue Manager. |
Remove
Go to your competitors list;
Click on the 🗑 button related to the competitor you want to remove;
Click OK in the confirmation pop up.
When all competitors are set up you can start mapping the rooms to your according to your needs in the manage tool as well as in the analysis. In general, RateBoard will always indicate the lowest price of one competitor per category. Please do not forget to save your settings.
Setup of filters for the shopped rates:
You can setupHow to map competitors' room types
Once you selected the competitors you want to follow, you can map the room types for each one according to your need at the bottom of the competitors page.
Room type: You can select for each competitor’s room type what is the correspondent one for your hotel.
Active: If a competitor’s room type is not relevant to you, you can switch it off.
Once you are done with the mapping, click SAVE to apply the changes.
How to set up rates shopping filters
You can set up filters to ensure the quality of comparing rates in Manage or in the Analysis tool, entering the submenu Settings.
. To do that, go to the Settings tab in the competitors page.
The competitor’s rates could be filtered by the following criteria:
MinLOS: eany and 1 to 7.
e.g. MinLOS
2 → no MinLOS rates longer than 2 nights will be shown.
Persons: eany and 1 to 5.
e.g. 1
person → all available rates will be shown with the price of single occupancy.
Meal type: eany, no meal, breakfast, half board, full board or all-inclusive.
e.g. breakfast
→ just rates including breakfast will be shown.
Cancellation: if the filter is set to cancellable any, cancellable or non-cancellable.
e.g. cancellable → no “non-cancellable” rates will be shown.
These settings could can be used for each room category individually. Once you you’re finished working on your filters do not forget to save them, click SAVE.
Want to help us to improve RateBoard? If you have any suggestions, let us know ↗
(link to suggestions form)