Following your competitors' rate can help you to understand how your hotel in behaving compared to the market, giving you the chance to improving your strategies and conversion.
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 Insight, 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
2 times a week: for the next 365 days
How to set up
This will be done by our team once you start using RateBoard.
Before add 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 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).
How to manage competitors
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.
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.
How to map competitors' room type
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 of.
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. To do that, go to the Settings tab in the competitors page.
The competitor’s rates could be filtered by the following criteria:
MinLOS: any and 1 to 7.
e.g. MinLOS 2 → no MinLOS rates longer than 2 nights will be shown.
Persons: any and 1 to 5.
e.g. 1 person → all available rates will be shown with the price of single occupancy.
Meal type: any, no meal, breakfast, half board, full board or all-inclusive.
e.g. breakfast → just rates including breakfast will be shown.
Cancellation: any, cancellable or non-cancellable.
e.g. cancellable → no “non-cancellable” rates will be shown.
These settings can be used for each room category individually. Once you’re finished working on your filters, click SAVE.
Want to help us to improve RateBoard? If you have any suggestions, let us know ↗ (link to suggestions form)
