I can now understand our hotel’s performance from another perspective; our strategy versus competitors pricing and market demand. Before, we had questions around our pricing strategy and accuracy such as: is the price I’m selling a room at worth it? Will guests understand the value they’re getting if the rate is more than 20%-30% more expensive than the hotel next door, or do I need to adjust?
Sometimes it was the other way around: Am I selling too low to get sales? Will demand be affected by this? Am I damaging my brand? With Rate Insight, these questions are no longer an issue. As well as securing additional demand, Rate intelligence helps me position all the hotels in the market. I regret not using Rate Insight earlier, two years ago. Using the tool is worth it because you satisfy one of the basic human needs which is curiosity. If you have an automatic connection between Rate Insight and the channel manager and place yourself 10% above the average price, you will hit your sales goal every year. With Rate Insight, you create your own revenue. As a tool, Rate Insight is perfect and the cost of the subscription is nothing compared to what you get back in return.