UNDERSTANDING THE CALENDAR
3- Rate shopper
Refresh Rates: On the upper right corner of the calendar, you will see the button labeled “Refresh Rates”, which will update your and your competitor’s rates in real time. Note this can be done just once a day. If you would like to refresh your rates up to 5 times a day, get price recommendations and more advanced reporting data, check out RateManager:
See Outliers: This is a really useful feature located at the lower left side of the calendar. It will highlight the dates on which your rate is not related to the market demand index. For instance, differences noticed when your prices are too different of what ou usually do while demand is low, and vice versa.
See more details: Click on this button to hide or show more details when hovering over a specific day:
Download Excel spreadsheet: By clicking here, you will download an excel report with up to 90 days of all conditions from you and your competitors: Lowest rate available, refundable, non refundable and, additionally, the RateShopper.
Refresh Rates: You can update your and your competitors’ last rates from Booking.com by clicking on this button. This can take a couple of minutes and can only be clicked once a day:
Right below the calendar, there is going to be a graphic for you to see where you are, where your competitors are and how the industry is on its prices:
This is a great tool so you can check, on an overall view, if you are in the peak, bottom or medium prices and compare with your competitor’s. On this graph you will be able to determine where you want your strategy to go to!
For example, if you see that your prices are too low in comparison with your competitors’ and you have a good occupancy rate, you can increase your rates so it matches your market and you get more revenue.
You can zoom in on any date for more details, just click and drag for the period you want to check rates for.
By hovering over this graphic, you will see, just like on the calendar:
- Orange: Your competitor’s median price.
- Blue: Your price
- Green: Your Market, displays prices for most of your competitors
- Grey: Your competitors lowest and highest prices
- Turquoise: Your Market estimated demand, showing how many rooms have been reserved on Booking.com for your competitors and surrounding properties. The bars reflect how many rooms in total we expect to be booked for each date.
On the upper right corner of this graph, you will be able to see a button labeled legend. Clicking on this button will give you guidelines on the terms, a button in case you have zoomed in the calendar, and a < and > so you can move on the calendar dates.
The Rate Shopper is located at the bottom of your RateIntelligence site and it will display, on a detailed view, what are the price variations on the last 24 hours for both, you and your competitors:
- Ranking ? ?: On this example, “Hotel Demo R” is going to be our property and it is ranked nº 4th for Friday 10th. This means that our price is the fourth lowest price available for that date in comparison with our competitors. The higher the ranking (closest to nº1), the lower my price on Booking.com and vice versa; the higher my price, the lower my ranking is going to be (farthest to nº1) .
- Red: The price drops from you or your competitors on the last 24 hours on Booking.com. This is expressed on monetary units (€ on this case). For this example, you can take Hotel Demo “M”, for which on the last 24 hrs the price dropped €10 for Saturday 11th, meaning 24 hours ago their actual price was €185 instead of the €175 we see now.
- Green: The price increases from you or your competitors on the last 24 hours on Booking.com. For this example, you can take Hotel Demo “H”, for which on the last 24 hrs the price increased €42 for Saturday 18th, meaning 24 hours ago their actual price was €175 instead of the €216 we see now.