The Competitor Rates Table in RevControl provides a detailed overview of your competitors’ rates, including price changes, MinLOS, and conditions, allowing you to optimize your own pricing strategy.
The Competitor Rates Table in RevControl is a powerful tool that provides an in-depth view of your competitors’ rates, helping you fine-tune your pricing strategy. Here’s how to use this tool effectively.
Navigation:
You can find the Competitor Rates Table under Rates > Competitors > Rates Table. In the top blue bar, you can select the start date, and the table will display competitor rates for the selected period.
Daily Overview:
Each day in the table is divided into blocks representing different competitors and their rates. The table uses color codes to indicate rate statuses:
- Green: The competitor’s rate is higher than your rate.
- Red: The competitor’s rate is lower than yours.
- Purple: The competitor is likely sold out or has closed this OTA.
- Gray: The rate is either equal to yours or not comparable (different cancellation policies or breakfast options).
In addition to the color coding, symbols are also displayed:
- Green arrow up next to the price: The price has increased compared to the previous day.
- Red arrow down: The price has decreased.
- Gray square: The price remains unchanged.
- Small blue number next to the price: Minimum Length of Stay (MinLOS).
- Small orange number: Indicates that the MinLOS price has been carried over from a previous day, but arrival on this day is not possible.
- Flame icon: Non-refundable rate.
- Croissant icon: Breakfast included.
Rate Details:
Clicking on a competitor’s rate provides a detailed breakdown, including the OTA, number of persons, rate type (flexible or non-refundable), MinLOS, room type, yesterday’s price with today’s change in parentheses, and when the rate was last retrieved.
Conclusion:
The Competitor Rates Table gives you the necessary insights to stay competitive by understanding how your prices compare to the market and adjusting your strategy accordingly.