Grupo Posadas is one of Mexico’s leading hotel companies. Since their inception four decades ago, they have grown their portfolio to 15 brands. This ranges from upscale resorts to budget-friendly city hotels as well as vacation rental clubs all around Mexico. Grupo Posadas attributes their success to continuous innovation on their service offerings and adapting to market needs.
In an interview with Rodrigo Stores, Revenue Management Analyst at Grupo Posadas, we found out more about how he and his team leverage the Rate Insight business intelligence tool. Rodrigo shared how the tool helps him keep a better overview of rate development among his compset, monitor rate parity and make data-driven pricing decisions.
"Once we began using Rate Insight, we were able to check the competition’s real-time rate information with the click of a button. Now, we are always able to see their latest price changes and can react to them as they happen"
Our brands and individual hotels all operate in dynamic markets and attract a different customer mix. This makes it very important for us to always have a good overview of our compset’s online rates and our own. Once we began using Rate Insight, we were able to check the competition’s real-time rate information with the click of a button. Now, we are always able to see their latest price changes and can react to them as they happen.
Rate Insight also provides a solid 90-day overview of the market as a whole, including demand changes and upcoming events nearby. Having all this data at my fingertips helps me better understand and evaluate trends and developments in our online markets. I use these insights to find opportunities to yield, inform my dynamic pricing decisions and stay one step ahead of our competitors in an extremely competitive markets.
Prior to using Rate Insight, we spent a lot of time running reports, gathering information via manual competitor research as well as rate shops and collating data. All this had to be done before we could even begin our analysis. Now, instead of checking competitor websites or OTAs manually, I can simply get all these details presented to me right in the Rate Insight dashboard. This saves me a lot of time since I can do my market and competitor analysis much more efficiently now.
The option to edit the compset quickly and easily in Rate Insight gives me the chance to get an even better understanding of rate and demand changes in the market. On top of our main competitors, I can also check on other properties we share a target market with to see if I can spot trends I can leverage at our hotels. This shows me how we’re positioned, and I see if we’re making the most of current revenue opportunities or am outpricing myself. Then, if needed, I can quickly update and optimise our rates to maximise results.
"The parity check has become one of my favourite features because I can do the previously tedious parity checks in just a few clicks"
When I began using Rate Insight, one of the main goals was to use it to find rate disparity cases more quickly. By now, the parity check has become one of my favourite features because I can do the previously tedious parity checks in just a few clicks.
The tool highlights exactly which channels have a disparity case, and I can correct it immediately. If the issue comes up again on the same channel, I can take further action. Especially today, when every single booking matters more than ever, I want to avoid losing revenue due to rate disparity. Using Rate Insight makes that much easier and faster.
I recommend that revenue professionals give Rate Insight a try. The idea of having to go back to working without Rate Insight would feel like taking a huge step backward.
Rate Insight makes tasks such as verifying rate parity and fixing related issues, monitoring the competition, creating reports and updating online rates based on real-time data much simpler and faster than ever, which gives you an edge as a revenue professional.