What is a competitor tracking?
Chartsbeds Competitor tracking interface is a powerful yield management tool for monitoring your competitors’ rates.
The module monitors your competitors’ rates and alerts you, according to your settings, when your particular competitors’ rates are so many percentage points higher or lower than yours. This is very customisable.
You can specify the date period, room types, alert trigger settings and the regularity with which your competitors’ rates are checked.
All this not only helps you adjust your short-term rates but also allows you to make well-informed decisions regarding your long-term pricing strategy.
How does it works?
This functionality is containing rate override menu, rates alerts and customizable competition interface. This could be used for comparing rates for common unit in common properties. The competition interface fetches competitors’ rates and displays them in the rate override menu.
Press F1 to see the list of all competitors and their rates for any given date/room type.
The colors below indicate where your rates are in relation to your competitors’ rates.
If your rates are not manually overridden, then green indicates your rates are lower than your competitors’ rates and red indicates your rates are higher than your competitors’ rates.
If your rates are manually overridden then the colors above change to light brown and turquoise.