When we have a hotel business, we know which companies are competing against us and/or have similar characteristics and products.
It is extremely important to monitor your competition’s rates to know where your product stands (marked down, over charged, flexible…) and the position your business has in the market.
The problem is:
- How can you implement this constant and precise monitoring that will lead to a more profitable strategy ?
- Wouldn’t it be great to know exactly what is going on with your competition in terms of pricing and availability on OTAs like booking.com, Expedia, Cleartrip, GoIbibo…?
A system to monitor your competition and see trough their lowest rates and availability
This is what we have for you: You will be able to supervise in one click a set of 4 competitors (of your choice) from one place, at all times and for different OTAs.
Here are some of the key features:
- Creative visualizations and graphics to compare your business with others on different OTAs at the same time or one at a time
- Updated lowest rate for each property in the respective OTA
- Details on prices applied and the lowest one
- Report on the different room type and their rate for each competitor
- Information on daily availability for all properties
- Disposable data for the next 4 months, see the future!
Watch your business rivals trough OTAs
To be aware of what is going on with our competition we need to monitor what they publish in Online Travel Agencies. Each day we’ll know what are their updated rates and if they have availability. The obtained information will draw a micro representation of the market situation for a precise moment ; this can completely change the way we position our business, free availability and we plan our sales for the day, week and next month!
In the case of the hospitality industry, the pricing component is even more complex because you have to take into account several key elements such as:
- The seasonality
- The availability
- The consumer’s purchase journey
If we try to understand the situation and adapt our rates to get better opportunities and profit margins: We are doing Revenue management.
Implementing this complicated monitoring only takes one minute now, and if you wish to deploy a dynamic price strategy in all OTAs, Clerk’s Channel Manager will be a great tool to complete this.
Contact us if you want to test Clerk Revenue for 15 days or you have any doubts about this service, make an inquiry here!