A high Competitor Based Rate may be caused by a competitor in your set not updating their rates, incorrect settings in the Competitor Index, or differences in pricing structures.
An exceptionally high rate recommendation can arise from several factors:
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Unupdated competitor rates:
- Cause: A competitor in your set may not have updated their rates for a specific date. Since our rate recommendation is calculated based on competitor rates, these high outlier prices can significantly impact the recommended rates.
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Solution 1: Temporarily disable the competitor in the Competitor Index to prevent unreasonable rate recommendations. Remember to re-enable the competitor once their rates are updated.
Note: Temporarily disabling a competitor in the Competitor Index may affect the accuracy of your pricing strategy. Ensure you re-enable the competitor once the rates are updated to maintain a complete and accurate rate recommendation. -
Solution 2: Set it so that only a certain number of days or up to a specific date in the future are considered for competitor rates. After that date or days, RevControl will automatically switch to the Occupancy-based recommended rate. This can be set via System or Hotel settings > Rate recommendation:
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Switch the rate recommendation to compare to after X days or selected date
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Switch the rate recommendation to compare to after this many days / Switch the rate recommendation to compare to from this date
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Which rate recommendation to compare to after X days or selected date.
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- Cause: A competitor in your set may not have updated their rates for a specific date. Since our rate recommendation is calculated based on competitor rates, these high outlier prices can significantly impact the recommended rates.
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Incorrect settings in the Competitor Index:
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Cause: If your Competitor Index is not accurately set up, it can lead to incorrect rate recommendations. This may be due to incorrect information about star ratings, reviews, hotel condition, or location.
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Solution: Check and correct the settings in the Competitor Index. Ensure the information about the competitors is accurate and reflects the real situation.
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Including breakfast or flexible rates:
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Cause: The displayed competitor rates might include breakfast, while your own rates are room-only, or the competitors’ rates are flexible while your base rate is non-refundable.
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Solution: Adjust the settings via System/Hotel settings > Rate shopping > Default rate & Default meal plan to ensure you’re comparing rates on the same basis as your competitors.
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- Incorrect room type mapping:
- Cause: Incorrect room type mapping between your hotel and your competitors’ can lead to inaccurate rate recommendations.
- Solution: First, check the room type mapping in RevControl yourself. If it’s correct, contact our Customer Success team so we can check it in the rate shopping platform. This can be done via support@revcontrol.com or through the chat in RevControl.
