A rate shopper is a tool used to collect and compare information on room rates and availability across different distribution channels.
For hotels, the main purpose of using a rate shopper is to monitor and analyse their competition and adjust their pricing strategies accordingly.
A rate shopper tracks and collects data on the rates offered by other hotels in a specific geographic location through websites and online booking platforms, such as OTAs (online travel agencies), metasearch engines and other distribution channels.
With the help of a rate shopper, hotels can obtain real-time information on the rates and availability of the hotels in their competitive set and the market in general, allowing them to make data-driven comparisons and better decisions on their own pricing strategies, adjusting their rates to remain competitive, identify opportunities and thereby maximise revenue.
The rate shopper is one of those tools that any hotel or hotel chain should have. A valuable technological resource that will help them save time and money, regardless of their type of establishment.
For Revenue Managers
For Revenue Managers
Frequent asked questions
What is a rate checker?
A rate checker for hotels is a tool used to check and verify the rates of the hotel's different room types in the different distribution channels.
What is the difference between a rate shopper and a rate checker?
While a rate shopper focuses primarily on collecting rate information from the hotel's competitors, a rate checker focuses on ensuring that the hotel's published rates are consistent and up-to-date across all channels of distribution.
So, is Price Seeker a rate shopper or a rate checker?
Both. Actually, we like to refer to Price Seeker as a price intelligence platform, in which in addition to being able to control your prices, and those of your competitors, throughout your distribution network, you can obtain data on the marketplace, such as average prices or their evolution, the opportunity cost (the value of your disparities), the positioning of the hotel in the OTAs, etc.
For which type of hotel or distribution is a rate shopper most appropriate?
For all. Independent hotels or hotel chains, holiday, rural, boutique or urban. Obviously, the larger your distribution network is, the more necessary it will be to rely on a rate shopper and a rate checker, but all accommodation has a competitive set and is marketed through more than one platform, in addition to the direct channel. We recommend you read the following article.
Does a rate shopper recommend the price that I should apply?
Not all of them do, although the information provided by the rate shopper for hotels should be enough to help you make that decision. Price Seeker does have an indicator, the Smart Rate, which is based on different variables to suggest an optimal selling price. This functionality, although not exclusive to our tool, is not always available.
How do I know which rate shopper to choose to manage my prices?
This is a very personal decision that, among other factors, takes into account reasons such as usability, user experience or the number of data sources. However, in our opinion, the most important thing to consider is the reliability of the data. The question is not the volume of data, but the quality of the data. For example, Price Seeker allows you to download a screenshot of the day and time of extraction as a guarantee. In any case, technology is the means, not the end, and you should choose the tool that best suits your working methodology, your distribution and your current systems.
Does the use of a certain rate shopper depend on the booking engine I use?
In some cases yes, but not necessarily. Price Seeker in particular can be purchased by any hotel establishment, regardless of the booking engine it works with. The tool is fully integrated in all cases and we will only need to know your competitive set and your distribution channels to put it to work.
Any doubts? Contact us
Our team will be happy to answer all your questions and help you throughout the process so that you only have to worry about seeing how your business grows.