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RateIntelligence Manual



 

UNDERSTANDING THE CALENDAR

1- Calendar views

2- Understanding the calendar and its colors

3- Additional features

4- Price evolution

5- Rate shopper

 

CUSTOMIZING YOUR ACCOUNT

6- Getting help, changing language and settings access

7- Editing personal settings, select reporting emails and password

8- Choosing alert preferences / selecting competitors

9- Completing room info and adding a new view

 

                                                                                                                                                             


What is RateIntelligence?

It is a powerful and easy to use tool that will give you a market overview and rates so you can compare them with your 3 most popular Booking.com’s rates, for up to 5 competitors. RateIntelligence features:

  • Lowest Available Rate: Will display the lowest rate available for both, you and your competitors.
  • Refundable: Will display only refundable rates for both, you and your competitors
  • Non Refundable: Will display only non refundable rates for both, you and your competitors.
  • Fresh rates, imported every hour for the next 15 days and once a day for 360 days (this one is also available on demand).
  • A specific room on the calendar, so you can compare it with your competitors’ rooms.

                                                                                                                                  

                                                                                                                                                           

1


THE CALENDAR AND ITS VIEWS 

 

Choosing the Rate, Room and its policies

On RateIntelligence, you can choose up to 4 views from the calendar, on the upper left side of your screen:



  • Lowest Rate Available: This will display the lowest available rate for all the rooms that are available for you and your 5 competitors. RateIntelligence will filter this information dynamically considering the following:

a) All room types, for you and your competitors
b) All room occupancies
c) All rate policies (refundable, non refundable, with and without deposit)
d) All minimum night restrictions 

 

  • Non Refundable: This will display the non refundable rates for all the room types available for you and your competitors. This option will dynamically consider:

a) All room Types, for you and your competitors
b) Occupancy >2
c) Only non refundable rates
d) All minimum night restrictions

 

  • Refundable: This will display the refundable rates for all the room types available for you and your competitors. This option will dynamically consider:

a) All room Types, for you and your competitors
b) Occupancy >2
c) Only refundable rates
d) All minimum night restrictions

 

  • Additional Room: You can create an extra view by adding a specific room and rate type (e.g. Double room, 2 guests, refundable, breakfast included, no deposit required) in order to be able to compare equivalent rates in a more precise way. Go to Settings ? Views. Once you have saved your room and rate types go ahead and map them to your competitors’ matching rooms. 

 

Calendar Overview




 

What is displayed on each day of the calendar?

a) Your Booking.com rate: based on your view (lowest rate, refundable, non refundable).

 

b) Competitors' median price:

What is the median price? It is literally the price in the middle of a compset of competitors. In case there are two median prices, we will calculate an average of price 1 and price 2: 

Why the median price? Because it is a more accurate way to identify what the prices are by excluding any extreme high or low prices, which will ultimately affect prices in case it was calculated as an average.

C) Market Demand Forecast: On each day of the calendar you will be able to see a forecasted demand for the next 360 days.

It’s a forecast of number of bookings that Booking.com will receive, for the city of your Property. The longer the bar is, the higher demand we forecast based on Booking.com's reservations at your city.

 

                                                                                                                                                             

2

What do the background colours mean?

  1. Green: The difference between your price and your competitors’ median price is minimum.
  2. Yellow: The difference between your price and your competitor’s median price is relatively greater.
  3. Red: The difference between your price and your competitor’s median price is large.



Important Note: Alerts ranges can be edited and customized on either relative (%) or absolute (natural number) values and you will be able to decide what type of alert you wish to have and its values. This will be explained in detail on page 11 of this manual.

By hovering over your Booking.com’s rate, you will see details such as what room type that rate corresponds to, what is included and its rate type, along with your competitors’ property names, their rooms and rates for that specific day:



Note that on some dates, you could see a “MLOS” icon followed by a number. MLOS stands for “Minimun Length Of Stay” in English and it means that for that date you or your competitors have a restriction of, for example, “3” nights to stay at your property:

 

                                                                                                                                                           

3

Additional Features

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:

 

 

                                                                                                                                                             

4

PRICE EVOLUTION

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.

 

Features 

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:

  1. Orange: Your competitor’s median price.
  2. Blue: Your price
  3. Green: Your Market, displays prices for most of your competitors
  4. Grey: Your competitors lowest and highest prices
  5. 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.

                                                                                                                                                             

5

RATE SHOPPER

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:



This features:

  1. 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) .
  2. 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.
  3. 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.

                                                                                                                                                             

6

CUSTOMIZATION & SETTINGS

RateIntelligence will allow you to customize how frequently you would like to receive the email reports with your competitor’s most important price variations, reset your password, determine your competitors, etc!

To start, on the upper right corner of your BackOffice, you will see:

 

a) Help: You will need to fill in the required fields to submit a request or to report any problems on the platform. Please provide us with the most information you can gather:


b) Language: You can select the language you would like your RateIntelligence account to be available in. Just click on the country flag and select from the dropdown:



c) Account: Here you can edit your profile, your email alert preferences and frequency, the calendar alert ranges, your competitors and the amount of rooms. We will see this tab in detail up next:



                                                                                                                                                             

7

ACCOUNT SETTINGS

Personal Settings:

a) Profile: Here you can fill in what your role is and how often you change your pricing:

b) Emails: -Select “Active” in case you want to receive email reports.

                  -Select “Email frequency” to customize how often you would like to                         receive these: Daily - Biweekly - Weekly - Bimonthly - Monthly.

                   -Select “Recipients” to add all emails addresses that need to receive                       the activity report by clicking on the “+” sign.

c) Reset password: Here, you can choose your password:




                                                                                                                                                             

8

a) Alert Preferences

Threshold: Here you will determine if you would like to have a relative (%) or absolute (number) difference between your price and your competitor’s. Click and drag where you would like the alert to be activated on the calendar.

The gap if yours to choose; for instance, you would like the background color to be green when your prices are not bigger than 5% in relation to your competitors, yellow when the  Difference is between 6 and 20% and red when the difference is higher than 21%.

b) Competitors: RateIntelligence will allow you to choose up to 5 competitors to be displayed on the calendar. In blue, you will see your 5 active competitors and pins indicating their location on the map. If you would like to change them, select one from the list provided or type in your competitor’s property name on the “Search for competitors” field:

                                                                                                                                                             

9

c) Rooms: Here you will see the list of rooms you offer on Booking.com. On the Quantity column, fill in the number of total physical rooms you have in your property for that room category:

d) Views: On this section you will be able to feature one room from your Booking.com’s extranet and compare it with your competitor’s specific rooms and policies:

Step 1

  1. Select your Booking,com’s room type you would like to display on the calendar.
  2. Select the occupancy for that room.
  3. Select if meals are included or not.
  4. Select the rate policy, refundable or non refundable.
  5. Select payment options.

Once completed, click on blur the icon to save your configuration.

 

Step 2

Once set up, you will need to map this newly added room with your competitors’ rooms. Select your competitors’ room that is closest on characteristics and prices to your room.

Once completed, click on the blue icon to save your configuration.

 

 

Questions? Send us an email to suitehelp@booking.com so we can help you out with any BookingSuite Products!

 

 

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