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Market Intelligence Software Guide

What is market intelligence software?Defining “market intelligence” in hospitality, or any industry for that matter, is quite simple… it’s the general understanding of any information relevant to your market and using that aggregated data to make confident business strategy decisions. For hotels it’s about understanding your competitors’ pricing strategy and demand forecasts in real-time, being aware of local events and other seasonal occurrences along with weather conditions that impact overall market demand, and using this information to adjust your pricing and revenue management stra... View full guide

10 Best Market Intelligence Software

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OTA Insight (Rate Insight)

94
HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Geography: Global Verified Customer Support: No
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TravelClick (Demand360)

83
HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Geography: Global Verified Customer Support: No
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SiteMinder (Prophet)

62
HT Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Geography: Global Verified Customer Support: No
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DHISCO

Geography: Global Verified Customer Support: No
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Recent Rate Shopping & Market Intelligence Articles

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So You've Got a Great Hotel Website, Now What?

by
Hotel Tech Report
1 week ago

It’s a best practice in the hotel industry to update your hotel’s website at least once every two to five years. A hotel website design refresh alone costs a minimum of $2,000-$5,000 and up to $30,000 for a premium custom hotel website. For websites more than three years old, material technical updates need to be made to keep the guest booking experience (UX) running smoothly which in turn improves everything from web visitation metrics like time on site which then impact SEO and even paid advertising. Beyond just putting a fresh coat of paint on your hotel website, hotel owners need to make sure the page loads quickly, the site is mobile-optimized, and that it has a high conversion rate. These updates can be pricey, but worthwhile. The site needs to be structured for optimal SEO rankings, with updates to keyword research integrated regularly. New content should be added to the site to keep the page looking fresh and showcase anything new happening at the property. Above all, the page needs to work well, deliver a great booking experience, and improve the visibility of the hotel so guests can find and book their perfect room easily. It’s an investment to keep your hotel’s web presence in peak condition. Updating your hotel website is just the first step, however, to increasing direct bookings and improving the profitability of your property. Here’s what to do once you’ve optimized your website.   Optimize pricing to attract more prospective guests Our first priority as a hotel marketer is always ensuring that we have taken steps to optimize our direct channel.  Once our website is optimized we want to make sure that we are pricing our rooms correctly relative to the compset. Enter: market intelligence and rate shopping software. A rate shopping tool gives you the data you need to make an informed decision on pricing. For example, RateScreener integrates market rates and event calendar data to provide the best possible pricing for supply and demand at any given time. Tools like this one can monitor competitor rates using local event and weather data, demand models, and historic trends. Automating this process is one of the most important things you can do after you upgrade your hotel’s website. All of these steps are crucial to optimizing marketing strategies. And, fortunately, there are many great marketing tools out there that can connect you with more channels, optimize your pricing, or help you manage your reputation. However, working with one vendor to deploy all these marketing tactics has more advantages than working with multiple vendors. Work with one vendor to utilize your resources effectively by streamlining y