The calendar can be seen as the center of RateManager: here is where you can see the rate recommendations for the next 360 days and use these to optimize your revenue.
Table of contents
1. Calendar views
You might offer different types of rates and/or rooms to your guests to choose from. On the calendar, you can choose which room/rate type for which you would like to receive rate recommendations and compare with those of your competitors; we call these calendar views. The room/rate types that you have requested to be added during the setup of your account should be available to choose from.
If you have room and/or rate types that are not available as a view yet, you need to create this first by going to Account > Settings > Settings > Views.
2. Your property's rates
When you look at a specific date, you see your property's rate that is available on Booking.com. You can recognize a minimum length of stay restriction on your rate by MLOS, which stands for minimum length of stay, next to it. In the example below the rate has a minimum restriction of 3 nights, which means that guests can only get this rate when they book for at least 3 nights.
The percentage that you see when you look at a given date, is the occupancy rate of your property based on the reservations that you have on the books for that date. This information is coming from your Property Management System (PMS) that is connected to RateManager. If you notice that the percentage is incorrect, please go to Account > Settings > Settings > Occupancy Check to report this.
4. Your competitors' rates
The rate in orange is the median rate of your competitors; the median is the middle value of a range of values and is different from the average. If you for example have the following range of rates "90, 74, 40", then 74 is the median value and 68 the average. The system uses the median instead of the average rate because the average may significantly be influenced by extremely low or high rates (which could create a false representation of the market demand).
You can hover over the median rate on the calendar to see per competitor what the rate is for that specific date. In the example below you see MLOS 2 behind the rate of Hotel C; this means that there is a restriction of 2 nights on this rate so guests will only get this rate when they book for at least 2 nights.
5. Rate recommendation
The rate in green is the recommended rate for the specific room/rate type you are looking at. This recommendation is based on an algorithm that takes into account many different factors including but not limited to the expected local market demand, historical data, and your competitors' rates.
6. Background colours
Your calendar on RateManager shows different background colours for the dates, which can help you quickly prioritize which date you should pay attention to. What these colours mean, depends on how you have set it up. It can relate to one of the following three options, depending on how you customize it in Account > Settings > Settings > Alert preferences:
- Difference between your current rate and RateManager's rate recommendation
- Difference between the reservations you had yesterday and those from today
- Difference between your rate and your competitors' median rate
Let's imagine that you chose for the option "Difference between your current rate and RateManager's rate recommendation". In this the case, the colours mean:
- Red = your rates are significantly different than the rate recommendations
- Yellow = your rates are moderately different than the rate recommendations
- Green = your rates are relatively similar to the rate recommendations
- No background colour = missing rate and/or availability on Booking.com for the room/rate type you are looking at
In the calendar you find lots of valuable data to help you drive more revenue through your pricing strategy. To help you better understand the data that RateManager shows, there is a legend button at the bottom of the calendar where you will see a brief explanation of the different elements you see.
8. Download Excel spreadsheet
If you would like to export this data for further review for example during meetings, you can use the Download Excel Spreadsheet button.
9. Video tutorial: Calendar
Below you can see a video that explains you the basics of the calendar.