The Smart Rate feature helps optimize pricing and market positioning with two modules: Rate Parity Check and Competitors Check.
Adopt a savvy approach with Smart Rate to assess rate discrepancies across various online distribution channels prior to setting prices. Maximize sales by offering the best prices compared to competitors and maintaining a consistent pricing strategy across all channels.
Rate Parity Check
The Rate Parity Check module within Smart Rate is an intelligent solution that keeps track of your room prices across three major online travel agencies: Agoda, Booking.com, and Expedia. Here's what it does:
- Monitor OTA Pricing: It continuously monitors how these major OTAs are pricing your rooms.
- Rate Comparison: It compares the rates offered by each OTA and provides insights on how your rates measure up against them.
- Pricing Strategy: Based on the comparisons, it helps you devise a pricing strategy to ensure consistent rates across all channels, ultimately optimizing your sales.
Competitors Check
The Competitors Check module is another integral part of the Smart Rate feature, aiding you in staying competitive and well-informed about the market pricing. Here's how it functions:
- Centralized Competitor Pricing Review: The module provides a centralized dashboard to review the pricing of your top 5 competitors in the market.
- Enhanced Market Positioning: By staying informed about competitors' pricing, you can enhance your market positioning and adjust your rates accordingly.
- Data Source: The Competitors Check module retrieves data from Agoda, comparing the cheapest hotel rates listed on Agoda with your rates and those of your competitors.
Note: To utilize the Competitors Check module effectively, ensure that all your competitors added are also listed on Agoda, as the module retrieves data specifically from Agoda.
Click on the links to read more about the Rate Parity Check and Competitors Check.