Rate shopper overview
Below will give an overview of what the rate shopper is and the benefits of using it:
The rate shopper helps you stay competitive by showing you how the market prices their rooms to sell. This allows the RMS and you to make data-driven pricing decisions in a your competitive market.
The Rate Shopper displays competitor set prices for selected date ranges. Rates are collected three times daily for thirty days ahead and weekly on Saturdays for 355 days ahead. You can find the rate shopping timestamp of the last update at the bottom of the page.
View this video for more insights on the rate shopper:
Understanding the data
The below will outline how to read and understand the data in the rate shopper:
On the left navigation under the header data center, click Rate Shopper.
Click Date and choose the date from the calendar.
From the dropdown menu called room select the room.
From the dropdown menu called channel price select the channel.
Click the tab Info.
A graph will appear with different color lines:
My hotel is depicted in blue and is the value of your rate.
Median is depicted as yellow and is the average value of all competitors' prices.
Minimum is depicted in light grey and is the lowest value for all competitors' prices.
Maximum is depicted in dark grey and is the highest value for all competitors' prices.
Click the orange arrows to move the chart to the next date.
Click the ARI tab which is located beside the info tab above the graph to access the calendar view of the graph.
Scroll down and under the graph you will see the information outlined further.
Beside the date there is a number in an orange box
The orange numbers show your ranking, where one means you have the cheapest rate among competitors.
The numbers in the chart are depicted in red and black:
Black numbers indicate rates that align with the mapped room rates, cancellation policies, and meal plans.
Red numbers show rates that don't match your mapped room rates so are not a like for like comparison for that date.
Click on any rate to open a new screen that will show information for that specific date.
The screen will depict information about rates for your competitor rooms or your rates and rooms.
Use the orange arrows
to move the table to view more dates.Click Export at the bottom right of the screen to download the information.
You can view live rates in real-time prices for your property and competitor set.
Click the Live rates button in the lower left of the screen.
Select the first date to retrieve.
Select the number of days to retrieve.
Select the room type.
Click Get rates to begin and prices will load progressively on the screen based on your date range.
📌Note: A 30-day request may take several minutes to complete.
Remove a competitor from your comp set
The steps below will outline how to to remove a competitor from your comp set:
In order to remove a competitor you must have access to settings configuration.
On the left hand navigation under the header settings, click Hotels.
Click the eye
icon under the header actions. Click the pencil
icon beside the header hotel comp set.Click the red X
next to the property you want to remove.
Add a property to your comp set
The steps below will outline how to to remove a competitor from your comp set:
In order to add a competitor you must have access to settings configuration and verify playbook for the rate shopper source - Booking.com, Lighthouse or Expedia.
On the left hand navigation under the header settings, click Hotels.
Click the eye
icon under the header actions. Click the pencil
icon beside the header hotel comp set.Click New.
Search by hotel name as listed by your the connection:
For Booking.com you can also input the Booking.com URL as search criteria and select next.
Verify the hotel address and information matches and click Submit.
⚠️Important: If you cannot find the exact property by performing a name search, do not select another property and change the name. Open a support ticket if this issue persists.
Map competitor hotel rooms to your rooms
You must map at least one room type from each competitor hotel to your property rooms for data to populate in the rate shopper. You decide and control all the mapped data as makes sense for your property and market.
Follow the steps below to learn how to map competitor hotel rooms to your rooms:
In order to add a competitor you must have competitor hotel added to your comp set. Access to the room types section and the implementation template file (if available).
On the left hand navigation under the header settings, click Hotels.
Under the header tools, click Rate Shopper.
Each of your room types are listed below and the same process will need to be repeated for each room type:
Select the default occupancy from the dropdown menu.
Tick the meal plans for pricing:
RO: Room only.
BB: Breakfast included.
HB: Half board.
FB: Full board.
AI: All-inclusive.
Tick Refundable if this is appropriate.
Cancel policy will always be checked for refundable unless you specifically request mapping to a non-refundable rate.
Lowest rate may be selected if you prefer pulling the lowest rate of this room type, no matter the meal plan or cancel policy.
Updates will save automatically.