Hotel needs a room rate comparison tool in this era. Do you know why?admin
Let us know the reasons why a hotel needs room rate comparison tool. Getting to know that how your room rates compare to other hotels in the market is an essential and smoother way to achieve a competitive benefit. However doing this manually is a laborious task for any hotel and time-consuming. That’s why technology is always the best and most correct way to compare rates between your hotel and your local competitors.
Here are some reasons why a hotel needs a room rate comparison tool in the current era:
How you measure up to your competitor is highlighted by Hotel business intelligence
Basically, the main intention of a room rate comparison tool is just to provide you with a valuable data about what other local hotels are charging for their rooms. With this information on hand, you can make small adjustments to your prices that may give you a competitive benefit in the market.
It gives alert when market rate changes
When there is dynamic/Change in trends in the market it notifies serve as instant reminders. The great part is you have the capability to create your own rules for when you should be notified of these updates. This shows that your room rate comparison tool is going to work to the benefit of your particular hotel, granting you to accommodate local appeal and competition within your specific market.
Among your targeted markets, you can understand the demand for your rooms
When your hotel rooms are greater in demand you can see it at a brief look, and when you usually experience fewer bookings. This data gives permissions you to create a hotel room pricing strategy to increase your profits year-round.
It provides definite, immediate information to determine hotel room pricing
A room rate comparison tool combines information and gives you the opportunity to create reports; these reports will give information about room rates and hotel room pricing trends that are coming into existence in your destination and across the industry. With the help of these reports in hand, you can make informed decisions about when you require raising or lowering your room prices. A room rate comparison tool also showcases the most recent information about room rates in the surrounding area.
It makes the easy forecasting process
Predicting can be an overpowering and clumsy process, even for the most experienced hotel operators. You may avoid forecasting for fear of creating mistakes. With the right room rate comparison tool, however, a long-range prediction is much easier.
To implement this, hotelier must try our (BookingHotel) Hotel Channel Manager. This distribution solution rewrites/updates the changes on all individual channel with minutes, saving the time and efforts.
Not only we manage OTA’s, we also capture bookings from hoteliers own website with the help of booking engine.