The Competitor Rates Graph provides a visual overview of your competitors’ pricing trends, helping you optimize your pricing strategy based on market analysis.
The Competitor Rates Graph in RevControl is a visual tool that helps you analyze and compare your competitors’ prices. It enables you to identify trends and adjust your pricing strategy accordingly.
Navigation:
You can find the Competitor Rates Graph by navigating to Rates > Competitors > Rates Graph. In the blue bar at the top, you can set the date range and other filters, such as the number of persons, rate type (e.g., Flexible BAR), meal options, and Length of Stay (LOS).
Reading the Graph:
The graph displays the prices of your competitors over the selected period.
- Lines: Each line represents a different hotel in your competitive set.
- Market Demand: Market demand is shown as a percentage, based on data from Booking.com specific to your region. This helps you understand how market demand is evolving.
- Occupancy Rate: The graph also displays your hotel’s occupancy rate, allowing you to compare your performance with market demand.
Using the Graph:
- Interactive: Hover your mouse over the lines in the graph to view the prices and details for specific dates.
- Pricing Strategies: Use the graph to identify pricing trends among competitors. For instance, spot price increases or decreases in competitor rates, allowing you to adjust your own prices accordingly.
- Filters: Use the filters to customize the graph and display only the data relevant to your analysis, such as rate type or LOS.