The Competitor Based Rate Check report shows competitor rates and the rates recommended by RevControl. If the calculated rates are not suitable, you can adjust the Competitor Index to fine-tune them.
After setting up the Competitor Index in RevControl, it’s important to review the recommended rates. You can do this in the Competitor Based Rate Check report, available under Settings > Rates.
What does the report show?
In this report, you will see:
- The current rates of your competitors.
- The competitor based rate recommendation calculated by RevControl.
What if the rates are not as expected?
If you are not satisfied with the suggested rates, you can adjust the Competitor Index:
- Modify competitor information such as star rating, reviews, or location details.
- These adjustments will directly affect the rates calculated in the report.
Why is this check important?
This report ensures your hotel’s rates are competitive, based on the market data of your competitors. It allows you to evaluate the rates and make adjustments if needed to maintain your competitive market position.
The Competitor Based Rate Check report provides a final review before the rate recommendations take effect. It ensures your rates are aligned with your competitive position in the market.
How do you use the Competitor based rate check?
- Check the rates of your competitors.
- Review the rates calculated by RevControl.
- Adjust the Competitor Index if necessary.
- Save the changes.