A rate shopper is a tool used to monitor and analyze competitor rates and pricing trends in the market. Rate shoppers collect data from various sources, such as online travel agencies (OTAs) other distribution channels, to provide hotel managers with insights into how their rates compare to those of their competitors.
How do I configure Rate Shopper?
- Navigate to a specific property level.
- Go to "More Apps" > "Revenue Management" > "Rate Shopper."
- Within Rate Shopper, click on "Configuration."
- Drag the competitors you want to monitor into the "Select" section.
- Save your configuration.
- The rates for the selected competitors will now be displayed on the Rate Shopper page.
- You can also click on the calendar option to view the rates for the next 5 days compared to competitors' rate.
By using rate shopper tools, hotels can optimize their pricing strategies, adjust rates dynamically based on market conditions, and maximize revenue by staying competitive while also maintaining profitability.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article