Did you notice the detective chicken in the picture? 🐓
Good eye! You are as observant as a rate shopper.
But what do I mean by this?
This tech tool in the #hospitality industry has Sherlock Holmes’ capabilities and has been created to meticulously observe and analyze pricing, trends, and strategies, providing valuable insights for hotels, OTAs, and other businesses.
Let's dive into the details!
A rate shopper is Data as a Service (DaaS) that facilitates a comprehensive understanding of competitors' activities, from analyzing trends and uncovering reasons behind their popularity to scrutinizing rate variances patterns for real time forecasting and future demand.
This tool also functions as an informational resource for suppliers, providing valuable insights into market demand and competitor behaviors.
In navigating dynamic trends and competitive landscapes, the rate shopper plays a pivotal role in determining the lowest public rates, identifying peak rates, and refining searches based on variables like room type, guest count, nights, and even the inclusion of breakfast.
Additionally, there are tools that precisely identify targeted OTAs and hotels, streamlining efforts for market focus.
Throughout my exploration of the hospitality industry, Raul G. has been a sensei and mentor, guiding me through the intricate realm of rate shopping.
I feel like this post only scratches the surface of what a rate shopper is. Skift articles have been really helpful in understanding this ecosystem.
If you have any other sources to share, drop them in the comments so we can keep learning!
