Where does RateBoard get the the data?
The competitor and market data shown in RateBoard are provided by OTA Insight. The data is shopped on the booking.com website. The rate shopping happens daily for the data of the next 90 days. The data for 365-day period is shopped two times a week. You can follow up to 10 competitors.
Creation and maintenance of the competitor set:
New customers provide RateBoard with a list of competitors that the Revenue Manager passes to OTA Insight. Afterwards, the competitors can still be updated if you have, for example, a new competitor you would like to follow.
The first step in the setup process is to choose your property as a reference for your own rates and the market demand. The hotel can be found if you type in the properties name into the “OTA Hotels” field. Afterwards, you have to click the ➕.
Once the data of your own property is set up you continue with the competitor information. Therefore, you just look up your competitor with the “OTA Hotels” field. When your desired hotel pops up in the list you activate it with a click on the plus “+” symbol. If the hotel does not come up in the provided list it is currently not shopped by OTA Insight. In this case please reach out to your Revenue Manager.
If you want to unfollow a specific competitor just click on the delete symbol next to the competitors name.
When all competitors are set up you can start mapping the rooms to your according to your needs in the manage tool as well as in the analysis. In general, RateBoard will always indicate the lowest price of one competitor per category. Please do not forget to save your settings.
Setup of filters for the shopped rates:
You can setup filters to ensure the quality of comparing rates in Manage or in the analyses tool, entering the submenu Settings.
The competitor rates could be filtered by the following criteria:
- MinLOS: e.g. MinLOS set on max. 2 nights = no MinLOS rates longer than 2 nights will be shown
- Persons: e.g. 1 Person = all available rates will be shown with the price of single occupancy
- Meal type: e.g. breakfast = just rates including breakfast will be shown
- Cancellation: if the filter is set to cancellable no “non-cancellable” rates will be shown
These settings could be used for each room category individually. Once you finished working on your filters do not forget to save them.