RezRate – industry-leading competitive rate intelligence solution
The most important criteria in adopting a dynamic distribution model is the ability to assess market conditions real-time and arrive at a profitable pricing strategy. Tracking competitor rate trends provides a useful insight into market dynamics and demands patterns. Moreover, it is advantageous to know if a next door competition is sold out, enabling hoteliers to adjust room rates based on market conditions.
RezRate, with robust technology and intuitive algorithms can assess, competitor pricing trends real-time. Also, it is built with NoSQL databases to support heavy data exchange in seconds for faster response time.
Key features of RezRate include:
Drill-down into competitive pricing.
Hoteliers can not only track competitor rates, but also drill-down to understand the pricing by room type, meal plan and analyse the inclusions offered at a particular rate.
Gauge your rate positioning.
RezRate has an in-built rate index metric that provides you an indepth understanding of where you stand at the higher, lower and average price points as compared to your competitors in the market.
Monitor rate trends.
The rate shopping solution from RezNext offers an insight into competitor rate trends over a period of time. This will help you identify market dynamics – rise and fall in demand – and adjust your pricing strategy profitably.
Track rate performance for better pricing decisions.
RezRate can effectively analyse past performance and highlight rate plans that have yielded higher revenue or performed poorly. This analysis of historic data helps craft a better pricing strategy for the immediate future and long term.
Take quick pricing decisions.
Most importantly, RezRate is built using robust technology that supports heavy data exchange in a matter of seconds. This means you can identify emerging opportunities ahead of competition and capitalise on them.