/Important Features While Choosing a Rate Shopper Tool for your Hotel
rate shopper

Important Features While Choosing a Rate Shopper Tool for your Hotel

At Reznext, we understand how important direct online bookings are to you and your business. We have positioned our self best in the industry for providing ingenious and powerful tools to manage your bookings.

Our Rate Shopper Tool – ReD, is the only intelligence that provides insights for pricing strategies, hotel bookings and maximizes your hotel revenues. To create the perfect pricing strategy that retains the desired profit margins and growth, you require a tool that gives you the liberty to revise rates according to the changing scenarios. Our tools give you access to market behavior analysis to efficiently manage hotel revenue and increase returns. Through not just comparison and performance insights, this competitor analysis tool will tell you where you stand amongst your hotel competitors in the market.

Rate Shopper Tool is an easy-to-use platform that gives access to all relevant factors impacting demand for your hotel rooms. It helps you achieve accurate live hotel rate intelligence by combining pricing, demand, reputation, benchmarking and OTA occupancy in
a user-friendly dashboard. Our easy-to-understand dashboard with real-time data and instant drill-down capabilities enables our customers to spot and leverage opportunities.

Our tools help you to get an upper-hand In your hotel market through Critical Factors.

Important Features While Choosing a Rate Shopper Tool for your Hotel

1. Gather the competitors you want to monitor, and track their current performance on those OTAs, by overseeing the rates extracted from the connected OTAs

2. Easily compare your hotel rates with the market trend, as well as the set of competitors you have defined. Keep a check on your hotel’s performance on the connected OTAs.

3. Enlist the hotels which you consider as your competition and keep a track of the rates they apply on the OTAs along with their occupancy with a competitor analysis tool. Our tool helps to gets you a real time data of competition based pricing so that you stay ahead of the competition with lightning-fast live updates.

4. Ensure rate parity across all your OTAs by this feature of the Rate Shopper tool, which will let you compare your as well as your competitor’s rates on the OTAs.

5. Keep an eye and analyze your hotel’s as well as the market’s pricing dynamics; helping you plan further ahead and increase your revenue. Corporate revenue management can also analyze key metrics for the group and see which properties are performing well and in what scenarios. This allows the revenue manager to be informed of an issue even before it arises and take preventive steps to address revenue loss

6. Access a detailed sales report that outlines the total sales and collections made both through online channels and direct walk-ins. It also features a high-level report on the reputation score, positive feedback and negative reviews.

7. The analysis tool will give you a detailed outlook of the rates applied by you and your hotel competitors. It gives you complete information on the ongoing hotel rates, thereby letting you decide you’re new rates in real-time.

8. Extensive drill-down functionality on occupancy, booking trends and revenue generating sources. ReD is a flexible application that can easily connect with any hotel PMS. It integrates the different business processes under distribution for a holistic view of the revenue strategy at an enterprise level.

9. Analyze what business sources are performing well, at what price point, in which cities and when.

10. It provides a consolidated report of both online and offline channels like corporate/travel agents to provide a true yield performance metric across all distribution channels.

11. ReD application is also device agnostic. It is compatible across all platforms – laptops, tablets and smartphones – equipping hoteliers to take the smart decisions on the go.

ReD gives you true real-time enterprise distribution Technology Company and preferred profit management partner. We empower hotels to adopt a profitable strategy that simplifies the complex global distribution environment and makes it understandable and manageable. Our distribution platform is integrated with revenue management, operating intelligence and powered with reputation management insights.