The Shortcut to Smart Pricing Strategy – Rate Insights from trivago
The more data you have at your disposal, the smarter and easier your pricing decisions become. As a leading global hotel metasearch, trivago has access to pricing information from search volumes that rival those of other rate-shopper solutions. We gather our search data from 1.4 billion visits to trivago per year across our websites in 55 markets, and our pricing data from more than 1.3 million hotels and more than 200 booking sites globally. This information is now available to hoteliers.
The Rate Insights feature provides today’s busy hoteliers with comprehensive data in an easy-to-use tool, that enables them to:
• Monitor competitors’ rates across multiple booking channels
• Receive automatic updates when rate changes occur on OTAs
• Assess the search volume for hotels on trivago in the area
When your rates are competitive, your hotel is competitive. Rate Insights lets you monitor your top five competitors’ rates across multiple booking channels from the privacy of your own account dashboard. Pricing data is available for the last 180 days, so you can see how rates—yours and your competition’s—increased or decreased; how events impacted search volume; and how customer demand changed with the seasons. You can also see pricing data for 180 days ahead, enabling you to forecast competitive market rates nearly six months in advance.
With automated notifications, you’ll know what the competition’s doing with their pricing at all times. This enables you to know exactly when and by how much to adjust your own prices to maintain your edge. You’ll also always know what prices your partnered bookings sites are advertising for every one of your own rooms.
The Rate Insights dashboard lists information about upcoming events and enables you to monitor surges in search volume during that time. You’ll be able to see when demand for hotels in your area increases and know to increase your prices. Or when there aren’t so many people searching for hotels at a given moment, you’ll see from the low search volume that it might make sense to lower your rates to make them more attractive.
All this is in addition to these other features of trivago Hotel Manager PRO:
• Visitors’ Profile—See who’s been looking at your hotel profile
• Contact Details—Make it easy for travellers to connect with you directly
• Hotel News—Promote special updates about your hotel on your profile
You can learn more about Rate Insights and the advantages of trivago Hotel Manager PRO by visiting us at Hotel Tech Live. If you can’t wait until then, you can contact us directly for a full consultation.
PHONE: +44 203 451 5239