Competitor index

The Competitor Index helps you assess competitors based on criteria like stars, reviews, renovations, and location. This forms the foundation for the competitor-based rate recommendation in RevControl.

The Competitor Index in RevControl is used to set price positioning, influencing price recommendations. This index forms the basis for the competitor-based rate recommendation. The ranking of competitors is determined based on various criteria, such as star rating, review score, renovation, and location. If a hotel serves different target audiences on weekdays and weekends, a separate ranking can be set based on location.

Where can you find the Competitor Index?

You can manage the Competitor Index via Settings > Rates > Competitor Index in RevControl.

How does the Competitor Index work?

• Stars & Reviews: On the left side, you’ll see the competitor set you selected. The first column shows the star rating, and the second shows the review score. This information can be sourced from platforms like Booking.com.
• Renovation: In the “build/renovation” column, you fill in the condition of the competitor’s property. Use photos from OTA websites, such as Booking.com, to assess the hotel’s condition. A score of 5 means excellent condition, while a 3 means average, and so on.
• Location: This column is filled in based on the perception of the location from the booker’s point of view. A good location may be determined by proximity to restaurants, city centers, or in-house facilities such as a restaurant or wellness center. The location score can differ between weekdays and weekends, which is helpful for hotels serving different guest types (business vs. leisure travelers).
• Ranking: Based on the entered data, a ranking is calculated. A higher ranking causes the system to increase the competitor-based rate. Note that the ranking itself does not directly influence price recommendations but provides a visual insight into the competitive position.
• Use in Rate Recommendation: This column allows you to exclude certain competitors from price recommendations. This is useful when a competitor’s pricing significantly deviates, potentially affecting the reliability of the price suggestions.

How to set up the Competitor Index:

1. Stars & Reviews: Research the star ratings and review scores of each competitor.
2. Renovation: Fill in the condition of the hotel based on OTA photos.
3. Location: Evaluate the location, varying between weekdays and weekends.
4. Ranking and Price Recommendations: Review the ranking of competitors and decide whether to include them in the price recommendations.
5. Confirm Changes: Click “Confirm all changes” to save your modifications.