The Competitors Check module is a integral part of the Smart Rate, helping you to stay competitive and well-informed about your market pricing.
How it works
The Competitors Check module is a tool designed to analyze and provide insights into your hotel's pricing strategy compared to that of your competitors. It works by comparing the lowest hotel rate available in our database with the lowest rates discovered on each of the competitors you have specified within the "Edit Competitors" option.
The Competitor Check module will ‘read’ data from Agoda. Meaning that all your competitors added must be listed on Agoda.
All rates will be displayed on the table and the variations will also be shown in the graph. The cells with no value, represented by a dash ( - ), indicate the lack of availability for that date. The table and graph will show a period of two weeks, starting from the date selected in the Date field.
You can hover your mouse over the graph to see the details, including the competitor’s name, the room name, the rate, length of stay and room occupancy.
Competitors
Click on 'Edit competitors' to add a maximum of five of your local competitors in your area. The algorithm will automatically look for the property you enter in Agoda. Remember that all the competitors added here must be listed on Agoda.
Settings
Date: Select the start date. The Smart Rate algorithm will display the rates for the next 2 weeks (14 days) starting from the date selected in this field.
Length of Stay: Select the Length of Stay of 1 night or 2 nights. These are the most common length of stay used by travelers when searching for hotel rooms in OTAs.
Update Rates: This action will trigger the algorithm to read the rates of all your competitors again on Agoda. Use this option to run an update on the data displayed in the table and graphic. The action can be performed three times per day.
Notification Settings: To stay informed about rate variations, you can create a rule that triggers an email to a defined address. The rule identifies rate variations ranging from 5% to 30% for 1 or 2 days. Additionally, you'll receive an automatic email notification from the system whenever your competitors' lowest rate on Agoda is lower than your lowest rate.