Since Georgia started attracting more international visitors in recent years, the local hospitality market has grown and become a lot more competitive, both in the capital city of Tbilisi and even in small towns like Kazbegi.
When there were fewer other players in the market, it was easier to keep an eye on them and their rates. As the competition grew and got more complex, we knew we needed a new solution. We had great results using Rate Insight at the Holiday Inn Tbilisi, so we decided to test it at other properties too, including our Rooms Hotel Kazbegi.
Using Rate Insight at the Rooms Hotel Kazbegi has made it very easy for us to quickly gather all the information we need. Now, we check the summary report we receive via email every morning and keep an eye on the well-arranged dashboard to get real-time updates on changes in our competitors’ rates.
“Now that we can monitor the market several months out, we always know exactly where we stand.”
Since Rate Insight’s information is always up to date and accurate, we no longer spend time shopping rates and monitoring our competitors manually. The comprehensive data we get from Rate Insight also helps us create many of our reports more quickly. What used to take a full day can now be done in a few hours. Finally, checking rate parity is easier and faster.
Now that we can finish so many of our daily and weekly tasks quickly, we have more time to focus on analysing trends, refining our strategy, reviewing our progress and testing new approaches. This has put us at an advantage and made us more competitive.
“In a quickly developing market like ours, success is determined by your efficiency and how you spend your time improving your position in the market.”
While our results weren’t bad prior to Rate Insight, we took significantly longer to make our decisions because we had to manually collect our data. Since our market is so dynamic, this information was quickly outdated, and we had to make our choices without having a complete picture.
Rate Insight gives us the information we need in only a few clicks and lets us easily understand what is happening in the market, which events are coming up and how our competition is reacting to it all.
Having more time and reliable data to work with has had a great impact on our decision-making in terms of pricing and distribution. Using our experience and information from Rate Insight, we can forecast more accurately, and quickly identify opportunities. Today, we can always bring our best game because we have a complete picture of the market and are confident in our pricing and distribution decisions.
“Thanks to Rate Insight, we spend a lot less time on tracking down rate parity cases and can focus on our pricing and distribution strategy instead.”
As well as helping us keep an eye on our competition, Rate Insight has also helped us get on top of our rate parity issues. There used to be many rate disparity cases daily and it was hard for us to find them because we had to manually check our channels one by one to discover and solve the problem. This was tedious and time-consuming.
Now, we simply check the rate parity tab in the tool and all issues are flagged for us. Instead of having to check multiple channels, we know exactly where we are in disparity and can quickly fix it.
I think every hotelier not yet using Rate Insight should give it a try. Its accurate data, live updates, user-friendliness and excellent customer support make it the number one BI tool available today, an absolute must-have.