Helping thousands of hoteliers make better buying decisions every month
Marriott
Denihan Hospitality Group
Fairmont
starwood
The Standard
Ace Hotel
Kimpton
Accor Hotels
Ace Hotel
Ace Hotel

What is market intelligence software (rate shopper)? Defining “market intelligence” in the hotel business, 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 inform... Read the full Market Intelligence Software software overview

10 Best Market Intelligence Software

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Winner Badge
2022 Best Hotel Software
Hoteliers voted OTA Insight as the #1 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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OTA Insight (Rate Insight)

HotelTech Logo score
HT SCORE
100 out of 100
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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OTA Insight's user-friendly and flexible data intelligence solutions help the hospitality industry to visualise and leverage its data.  Our core aim is to provide our customers w...

Geography: Regional
Geography: Global Verified Customer Support: Yes No
Winner Badge
2022 Best Hotel Software
Hoteliers voted OTA Insight as the #1 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted RateGain as the #2 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Optima by Rategain

HotelTech Logo score
HT SCORE
97 out of 100
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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We provide holistic Rate Intelligence and Competitive Intelligence to our customers so that they always stay ahead of their competition. We help hotels with their pricing strategy...

Geography: Regional
Geography: Global Verified Customer Support: Yes No
Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted RateGain as the #2 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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2022 Finalist HotelTechAwards
Hoteliers voted SiteMinder as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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SiteMinder (Insights)

HotelTech Logo score
HT SCORE
92 out of 100
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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Don’t give your future guests any reason not to trust your rates by addressing any parity issues before they become a problem. Carefully manage your OTA commissions. See your ra...

Geography: Regional
Geography: Global Verified Customer Support: Yes No
Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted SiteMinder as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted D-Edge as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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D-EDGE - RateScreener

HotelTech Logo score
HT SCORE
78 out of 100
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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RateScreener retrieves rates applied by your competitors and OTAs and analyses your hotel’s position compared to your competition. You can then make adjustments on your rates us...

Geography: Regional
Geography: Global Verified Customer Support: Yes No
Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted D-Edge as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted eRevMax as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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RateTiger Shopper (by eRevMax)

HotelTech Logo score
HT SCORE
76 out of 100
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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RateTiger Shopper is an easy-to-use hotel BI, rate shopping and price intelligence tool. Get access to your property rate data against that of competitors - Analyze rate positi...

Geography: Regional
Geography: Global Verified Customer Support: Yes No
Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted eRevMax as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted Hotellistat GmbH as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Hotellistat - Rate Shopping

HotelTech Logo score
HT SCORE
75 out of 100
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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With Hotellistat you get ONE system for all areas of digital market positioning and market analysis. With our innovative approach as a RMB (revenue- market- and business intellige...

Geography: Regional
Geography: Global Verified Customer Support: Yes No
Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted Hotellistat GmbH as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted HotelRunner as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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RateFor by HotelRunner

HotelTech Logo score
HT SCORE
74 out of 100
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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With RateFor, you can optimize your own rates by analyzing the data of competing properties in your region. You can view which rooms of your property are sold, on which platform a...

Geography: Regional
Geography: Global Verified Customer Support: Yes No
Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted HotelRunner as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted Rateping Technologies Pvt Ltd as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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RatePing Hotel Pricing Intelligence

HotelTech Logo score
HT SCORE
74 out of 100
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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Wrong pricing decisions can cost you thousands. For Under $60 per month, RatePing helps Hotels and Vacation Rentals stay alert and ensures that you make the smartest pricing decis...

Geography: Regional
Geography: Global Verified Customer Support: Yes No
Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted Rateping Technologies Pvt Ltd as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted myDigitalOffice as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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The MAPP Report by myDigitalOffice

HotelTech Logo score
HT SCORE
73 out of 100
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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The MAPP Report (Market Analytics, Pace & Performance) provides hoteliers and management teams with real-time insight into hotel revenues, forward-looking indicators and market po...

Geography: Regional
Geography: Global Verified Customer Support: Yes No
Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted myDigitalOffice as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted Fornova as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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FornovaCI (Competitive Intelligence)

HotelTech Logo score
HT SCORE
72 out of 100
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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Have a better understanding on how your hotel, cluster or chain is performing against the competition. Shape your pricing strategy and make informed rate decisions using the most ...

Geography: Regional
Geography: Global Verified Customer Support: Yes No
Finalist Badge
2022 Finalist HotelTechAwards
Hoteliers voted Fornova as the #3 Rate Shopping & Market Intelligence provider in the 2022 HotelTechAwards
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Recent Rate Shopping & Market Intelligence Articles

How Hotel Tech Can Help with Labor Shortages

by
Sarah Duguay
1 month ago

As travel opens up, so comes a surge of travel. Pent-up desire for holidays has resulted in what some are calling ‘revenge travel.’ After some hesitation, hoteliers are reporting more demand than ever since the beginning of the pandemic. This has resulted in a challenging scenario. Before COVID-19, the hospitality industry was no stranger to employee retention and acquisition issues. But suddenly, faced with low bookings, many hotels had to make the difficult decision to lay off staff. Fast forward to today, some hotels have been forced to turn away guests because of even greater staff shortages than before. While theories abound about shortages, accompanied by HR strategies to attract new hotel employees, we’re here to remind you to take a deep breath because hotel tech is here to help! Tried and true, existing hotel tech can help your hotel with labor shortages by making operations more efficient and less time-consuming while improving the guest experience.   PMS Features and Integrations Alleviate Hotel Labor Shortages According to Revinate, 95% of hoteliers are facing a staff shortage while occupancy is experiencing record highs. One hotel in their report said their shortage has them operating with only 70-75% of their staffing levels. This is the norm, not the outlier, in today’s market. But, as many independent hotels learned during the pandemic, those with a cloud-based property management system (PMS) already have a leg-up on their ability to streamline operations and maximize staff. Because, as the name implies, cloud-based PMS exist in the ‘cloud’ (they run online), operators can manage their hotels from anywhere at any time. Hotel managers no longer need to drop everything and dash back to the hotel to deal with accounting issues or make rate changes. Front-desk duties, such as group management and availability calendars, or back-office tasks, like rate management and financials, are all at your fingertips, wherever you are.   Automation. Nothing streamlines operations like automated systems! At the heart of operations, the PMS automatically coordinates reservations, inventory and availability, housekeeping, and reporting, centralizing data to streamline front- and back-office tasks. For example, instead of manually sending routine emails to guests, set up and send templated emails from your PMS automatically based on defined triggers for booking confirmation, pre-arrival, check-in and post-stay communications, waitlists, group bookings, rental agreements, and more.  A cloud PMS is easily integrated with your other hotel systems — including payment gateways, OTAs, point-of-sale systems, locking systems, CRMs, and revenue management software, etc. — to automatically share relevant reservation data with those systems so that staff don’t have to manually re-enter information into multiple systems. System integration with your PMS at the core is an important part of automating processes and maximizing efficiency.   Self Check-in: Let guests jump the queue with online registration and self check-ins — saving you time and resources in the process. Typically, hotel guest check-ins — with forms to sign and policies to review — take around five minutes per guest and often result in queues, occupying your front desk staff and frustrating guests. By moving this process online, all agreements, waivers, screening, and guest information collection is completed online by your guests in advance of arriving at the hotel, improving the guest experience by not having to wait in a physical queue, while simultaneously saving staff a lot of time! With automated email or SMS communications, payment gateway and mobile key integration, the entire check-in process can be automated.   Rate Management: Flexible rate management tools make monitoring and adjusting pricing a cinch, from creating group discounts and package rates to instant overrides. Yield management functionality allows you to automatically adjust prices based on predetermined occupancy rules — talk about a time saver! If you haven’t already added a commission-free online booking engine (OBE) to your property’s website, this is your first order of business. Integrated with the PMS, reservations made by guests using the OBE are automatically updated in the PMS, and live rates and availability are always displayed online. Not only will you save valuable employee time from taking reservations by phone and email but today’s guests expect (and many even prefer) to book online. While OTAs are a great way for guests to find you and book online, why not offer your own online bookings and save on commissions? Speaking of OTAs, you’ll also save time by integrating your OTA channels or channel manager with your PMS to synchronize live inventory, rates and availability across channels, instead of managing each separately. Plus, all reservations coming through your channel partners are automatically updated in your PMS so no matter where guests book, they always have access to up-to-date availability. Integrating your PMS with your online distribution channels is a must for maximizing time and preventing overbooking.    Housekeeping reports: While a PMS cannot perform housekeeping duties, it can make housekeeping processes more efficient, which is essential with a lean staff. With a mobile housekeeping report, staff can check their housekeeping schedule using their own mobile phones, to see which rooms are vacated and ready to be cleaned and to mark rooms as clean as they go, adding housekeeping notes and maintenance alarms as required. The front desk is kept in the loop in real time with the same system. Furthermore, checklists for each room keep staff on track to ensure nothing is overlooked — because as you know, when it comes to cleanliness, guest standards are higher than ever before due to the pandemic.   Mobile keys: Keyless entry is an elegant accompaniment to online registrations and check-ins. While it may seem small, keyless entry technology removes the headache of keys altogether, whether it’s actual keys or cards. No more sanitizing, organizing, re-setting, or distributing. With keyless entry system integration with your PMS, guests can simply unlock their room door with their mobile device. Along with online check-ins, keyless entry integration allows guests to bypass the front desk altogether! Imagine no guest lineups at the designated check-in time and no key drop-offs at check-out. Did we just hear a sigh of relief?   Save time, resources, and money by employing smart room technologies. Allowing guests to adjust room temperature and lighting with their phones puts comfort into the palm of their hands. Better still, IoT offers the ultimate in personalization with room light levels that adjust with the time of day, and keeps the room temperature at exactly the right level — automatically. This kind of efficiency decreases demand on housekeeping and maintenance teams and helps with your sustainability initiatives.    Chatbots: Hotel Chatbots are an excellent way to assist your online guests 24/7 without any extra effort from staff. Integrated with your hotel's website and/or within your guest messaging app, an AI or rules-based chatbot can assist guests with booking, requests, FAQs, upsells, and local recommendations. Younger generations are the most comfortable seeking help from chatbots, with many guests preferring to search for answers this way than connecting with a real human — which frees up your human employees for in-person help.   Robot room service: A couple of years ago, robot room service was exclusively seen as a novelty service to delight guests. But in the age of COVID-19, it’s obvious to see the practical utility of employing robots by reducing human contact (and thus germs) and by reducing the need for bellhops. Because labor shortage is a trend that existed even before the pandemic hit, perhaps investing in robot room service is no longer pie in the sky. Isn’t technology an amazing thing? Instead of providing a lack of care or impersonal service (a common fear about using technology), today’s hotel tech provides hoteliers with a way to upgrade the guest experience even in the face of decreased staffing. If your property does not have one already, a robust and innovative cloud PMS like WebRezPro can set you on the path toward hospitality excellence and higher revenue, not to mention less stress.  

Advanced Shouldn't Mean Convoluted: The Benefits of Lean Revenue Management

by
Alexandra Fjällman
6 months ago

COVID-19 sped up a trend in revenue operations (RevOps) across the whole world of business. A recent survey by Forrester found that there’s been a massive shift to centralized RevOps. This comes as many companies begin seeing revenue as more than just an outcome. Instead, they now understand it as a result of a complete business process and collaborating commercial teams.  However, Forrester shows that success with this approach comes from more than revising an organization’s structure. An optimized operation model combined with a comprehensive revenue management charter seems to be the recipe for long-term success. This charter should align revenue planning, technology, processes, data and measurement throughout the company.  Breaking up silos in hotel commercial teams has been a hot discussion topic for almost ten years now. However, many of these silos are still a big part of many hotel operations today. In many cases they’re even augmented by specialized tech tools that serve one team and all but exclude the others (e.g., a revenue management system - RMS). One thing has become clear: integration and automation of a hotel’s tech stack are essential to centralizing RevOps. This is why today’s leading SaaS providers are adjusting their tools to facilitate organizational alignment.  In the pandemic’s aftermath, businesses have the chance to archive their long-established structures. Lean, centralized commercial teams can take over and leverage integrated technology, automated processes and cross-functional accountability for success.    Revenue, Gut instinct, and Effort  Up till now, generating revenue at hotels had more to do with gut feeling, knowing the market and hard work than with collaboration and strategy. Many times, poorly aligned initiatives by general management, marketing, revenue management and sales led to lost chances and investment, revenue dilution and internal disputes. Despite this situation having a lot of room for improvement, the data and communication silos in hotels have made it hard to bring about lasting change.    Letting Technology Take You on a Detour Thinking that technology is the solution to all issues is a common mistake. Yes, revenue management tools have developed by leaps and bounds in recent times. Technology today is more powerful than most experts would have deemed possible. It allows hotels to adapt to dynamic markets and make the most of every revenue opportunity. But RMSs were developed primarily for revenue managers - a small group of experts in a single field of the industry. To ensure they deliver on the promised ROI, many RMSs demand a lot of training time and continued interaction due to their complexity.  A well-trained revenue professional who can leverage a system’s full capabilities can create fantastic results. However, technology is also known to cause operational roadblocks. The sales and marketing teams or the GMs don’t have the time to learn the ropes of intricate legacy RMSs because they have their department’s own systems to look after. The same applies to revenue managers and technology used by other teams. In short, the more programs a hotel uses, the more likely it is to foster ongoing silo culture.    Using New Revenue Tools to Do More With Less The pandemic has led hoteliers to look at their operations differently. Today, there’s a desire to do more with smaller teams, decrease the staff’s workload, streamline day-to-day operations and make commercial teams work together more closely.  Commercial teams have begun changing as a result. Silos are opening up while marketing, sales and revenue teams lay old rivalries to rest. Now, teams work across several disciplines, and moving forward, they’ll be using a set of integrated tools instead of programs specialized on a single function. In revenue management, this includes automating time-consuming tasks like forecasting and rate optimization. It also covers the presentation of results and related information in an easy-to-read format everyone in the commercial team can understand and use.  At first, it may feel strange for revenue managers who are used to complex legacy RMSs, that manual case by case rate analysis is no longer needed to achieve excellent results. Today, smart hoteliers see that trusting an automated system with time-sensitive pricing tasks is giving them a competitive advantage.  Now that travel is slowly ramping up, competition between hotels will be strong. Using new and perhaps unusual ideas is a way for properties to differentiate themselves and create a base for future success.    Setting up a well-integrated tech stack, using automation where possible, and streamlining communication are the initial measures you can take to make this happen at your hotel.

Preparing for Demand Ramp-Up with the Right Revenue Strategy

by
Alexandra Fjällman
9 months ago

The world felt hopeful when the first COVID-19 vaccine was announced several months ago.  Today, vaccines are being distributed worldwide. Many countries are starting to relax restrictions and re-open their borders.  That’s fantastic news for the travel and tourism industry even without a clear timeline. We still know that local and regional recovery will begin as soon as governments give the go-ahead.  Now you need to ask yourself: is your property ready for the rebound? And if not, which tools will get you ready quickly?   COVID-19: The Effect on the Hospitality Industry Worldwide As the Covid-19 crisis unfolded, STR regularly shared performance trends and outlooks for every corner of the world. We take a short look at how Covid-19 hit leading hospitality markets and what we can expect down the road.  Europe Europe's average occupancy fell to 11.4% when lockdowns began in April. For all of 2020, average occupancy reached 33.1% thanks to a relatively strong summer season. Slow vaccination programs and a lasting second lockdown in most European countries leave us with a bleak outlook for the coming 90 days.  Asia After arrivals plummeted in February and March, average occupancy across Asia fell by 30%. However, since many countries in the region managed the pandemic well, several of them have already seen a rebound in domestic travel. In China, for example, the outlook is positive. There, the average occupancy rate is only 10% below that of 2019 among open hotels. Destinations that focus primarily on international guests, like Vietnam and Thailand, are still struggling more. But hopes are high that reopened borders will bring quick recovery.  Middle East Overall, the Middle East boasted a relatively strong performance in the past twelve months. Right now, its average occupancy even outranks China and the US. This is partly because destinations like Dubai never closed their borders. Still, current OTB business is rather low, especially given that the postponed EXPO 2020 is coming up.    Vaccination Campaigns Are Gaining Momentum World in Data and the Bloomberg vaccine tracker show the latest progress of global vaccination programs. Israel leads the list with 50% of people being fully vaccinated. The US and Chile have both passed the 11% mark. The UAE and Bahrain are getting ahead well, too. The faster this progress spreads around the world, the sooner pent-up travel demand will hit the market.  Given Europe’s strong summer season and China’s overall strong performance, the outlook is positive. But, of course, there is no set timeframe to work with. That’s why now is the best time for hoteliers to set up the tools they need for guidance in this incalculable time.   Winning During the Recovery Phase with a Powerful RMS Every region’s recovery phase will look different, so generalized predictions are pointless. Patterns from previous crisis bounce-backs or other historical data won’t help either since Covid-19 was so different from everything else. Despite all that, you must get ready for the ramp-up phase. Only then you’ll be able to seize every opportunity it offers you and get your business going again.    Collecting your data manually - an inadequate method Gathering data manually to inform your rate changes is still possible, but it should be a thing of the past. Staying on top of dynamic markets and detecting trends early on simply isn’t possible with this approach. Especially in the volatile recovery period, this could cost you many opportunities to drive revenue. Using an RMS (revenue management system) solves that issue by helping you set optimized rates every time demand shifts. But which capabilities should an RMS have? Read on to learn which ones are crucial for ramp-up, recovery phase, and beyond.   Forward-looking demand data If you want to make accurate revenue forecasts and create successful promotions, you need forward-looking data. This covers everything from overall search volume for your location and flight searches to length of stay queries. For the best insights, use an RMS like Atomize which breaks this data down by source market. Collecting this information manually would cost you hours and it would likely become outdated before you had a chance to evaluate it. Let your RMS gather this data to reveal emerging trends and high-demand dates in the future. Seeing this develop in real-time lets you optimize your revenue strategy ahead of your competition. That way you’ll be ready for every demand shift and have the chance to target high-potential source markets with tailored offers.    Automated, real-time pricing If you update your prices manually, you’ll always play catch-up with the market and will miss revenue-generating opportunities. A modern RMS with automated real-time pricing solves this problem in two steps. First, it continuously monitors your market for the slightest changes in demand. Whenever it’s necessary, the RMS will send you a new rate suggestion. You can approve or reject it manually. While this option gives you more control, the time it takes you to approve the suggestion creates a lag, and opportunities may be lost. Avoid this by going for fully automated rate updates. In that case, your RMS changes all prices automatically and they’ll always be in line with the most recent market developments. This option saves you hours of precious time and ensures you’re making the most of every opportunity.   A faster way to do group displacement analysis When event planners can start organizing in-person events again, you’ll get a lot of inquiries all at once. Analyze your options carefully. Does your future-facing data predict high transient demand for the date in question? If so, will it come via your website or high-commission OTAs? Evaluating these and other aspects will cost your team time and energy. Use an RMS to make faster, data-based decisions and get the most profitable contracts for your property.    Multi-property capability for property clusters If you’re in charge of several hotels, use an RMS with a multi-hotel set-up to save time. Instead of having different log-ins and windows for every property, you can see all your hotels’ data on a single dashboard. You’ll see immediately where to focus your attention, make changes and support your on-site team.    You’ve made it through this tough past year. You know that recovery is around the corner, so don’t let it sneak up on you. Get your hotel ready for returning demand and leverage a cutting-edge RMS to get a step ahead of your compset.  Yes, investing in new tech can feel like a financial burden these days. That’s why Atomize is offering a risk-free option that lets you benefit from their time-saving automation and forward-looking data when you need it most - during the recovery phase.  

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Recent Rate Shopping & Market Intelligence News & Community Updates

Unique Vacations, Inc., an Affiliate of the Worldwide Representative for Sandals Resorts, Partners with IDeaS

IDeaS
5 days ago

IDeaS, a SAS company, the world’s leading provider of hospitality revenue management software and services, announced today it has partnered with Unique Vacations Inc., (UVI) to bring the power of automated revenue science to Sandals Resorts and Beaches Resorts properties throughout the Caribbean. Celebrating its 40th anniversary, Sandals Resorts will usher in new resort openings in 2022, including a reimagined Sandals Royal Bahamian, in Nassau, Bahamas on January 27, followed by Sandals Royal Curacao on April 14 and Sandals Dunn’s River in Ocho Rios, Jamaica in December.  After re-evaluating its incumbent and other RMS providers, UVI determined IDeaS offered the most robust revenue suite of solutions and innovative roadmap to match its vision for transformational growth and connected commercial success. ·  Automated decision empowerment – UVI will switch revenue management system (RMS) providers to go from rules-based recommendations to the enhanced efficiency and profitability of automated decisions with IDeaS G3 RMS. · Change-management support – UVI will engage with IDeaS Consulting, featuring a world-class team of industry experts, to ensure organization-wide adoption, build user confidence and instill an aligned culture of total revenue performance and profitability. · Scalable commercial growth – IDeaS G3 RMS is a vital component of the modern hospitality technology ecosystem with data integrations to connect entire commercial organizations. UVI appreciated G3 RMS’s versatility, adaptability and ease of use, making it a sound long-term investment with immediate ROI potential. William Tullmann, vice president of operations and revenue strategy, UVI, said: “Our company has reached an exciting inflection point where our quest for continued innovation will align with cutting-edge automation. These efficiencies will result in an enhanced booking experience for resort customers, and the IDeaS team will play a critical role in this transformation for a more connected commercial future.” Ravi Mehrotra, president, founder and chief scientist, IDeaS, said: “Team IDeaS is thrilled to partner with UVI. As industry leaders with decades of innovation, this relationship signals a new era in the move toward a connected hospitality technology ecosystem. With this bold decision to transform their technology infrastructure, IDeaS is proud to empower this team with advanced solutions, expert guidance and automated decisions they can trust, so they can continue to focus on curating unforgettable experiences.”  

IDeaS Unveils Reimagined Consulting Services to Power the Modern Hospitality and Travel Organization

IDeaS
1 month ago

IDeaS, a SAS company, the world’s leading provider of revenue management software and services, has mobilized its global team of technology experts, change agents, and profit drivers with a renewed focus on sharing deep experience and knowledge to ready hospitality and parking clients for organizational transformation and to maximize revenue and commercial potential. The new-and-enhanced IDeaS Consulting offerings leverage the seasoned team’s global reach to provide: · Strategic Product Consulting – Drives optimal technology usage and guides the adoption and integration of IDeaS’ solutions into business strategies to enhance performance outcomes and return on investment. · Organizational and Transformational Consulting – Bolsters organizational change readiness and revenue capabilities through change management, organizational culture, and commercial strategic consultation. · Commercial Performance Center – Outsources revenue, distribution, and marketing support with commercial services that look beyond revenue management alone to drive commercial success. Scott Eitelberg, chief operating officer, Settlers Hospitality, said: “It’s been a seamless, easy process working with the IDeaS team. Our industry consultant has worked with us pre-and post-implementation to help us recognize and break some habits, better utilize our new technology and drive a cultural shift in how we approach our revenue optimization strategies.” Digna Kolar, director, IDeaS Consulting, said: “You may be ready for change, but is your organization? With IDeaS Consulting, our world-class dream team has evolved to better meet the needs of our clients in a fast-changing world. Leading hotels have embraced the virtues of automation and data-driven decision-making like never before, but it takes more than implementing the best software to make it happen. Commercial transformation is truly possible when hospitality businesses have formally aligned their people, processes, and technology. Our mission is to help our clients prepare for that transformation, adapt to new environments, and unlock new opportunities for growth.”

Amadeus Selected as Business Intelligence Provider for The Leading Hotels of the World

Amadeus
2 months ago

Successful hotel sales, marketing, and revenue management strategies have always required reliable market insights. With fundamental shifts in travel habits and buyer behavior, the need for comprehensive and current data is more crucial than ever. As markets progress into various phases of reopening, hoteliers need timely access to critical market insights more than ever before. To support strategic decision-making at both the corporate and property level, The Leading Hotels of the World and Amadeus have expanded their relationship to use Amadeus’ industry leading business intelligence solutions. These will provide Leading Hotels with visibility to global market performance data to help guide decisions at the corporate level. Properties that subscribe to Agency360® will gain important insights into their competitive sets to help them make effective strategic and tactical decisions as they adapt to rapidly changing market conditions and help them navigate today’s recovery and plan for the future.  Agency360® is the preeminent source of travel agent bookings from all four GDS systems, helping hotels understand their share of business, identify growth opportunities, compare performance to their competitive set for the top performing agencies in their market, and identify agencies where there are opportunities to grow revenue and market share. “We wanted the ability to pinpoint our top-performing travel agents and corporate customers, enabling us to build the best path forward from the pandemic. With Amadeus’ Agency360® solution, we have access to the most current data across GDS market performance,” said Armanda Santangeli, Managing Director Americas, The Leading Hotels of the World, Ltd. “With this level of insight, our hotels will have the information they need to grow both their corporate and leisure business.” “Throughout the last year and a half, we’ve heard from hoteliers looking to broaden their access to business intelligence and better understand what is happening in their markets. The latest evolution of Agency360® provides organizations such as The Leading Hotels of the World with the most up-to-date and comprehensive access to global GDS bookings to inform effective decision-making,” says Ahmed Youssef, Executive Vice President of Business Intelligence and Data Solutions, Hospitality, Amadeus. Agency360® is the industry’s only business intelligence solution that tracks 100% of global travel agent bookings across the four leading GDS providers. With data refreshed three times a week, hoteliers can view the most up to date insight across their competitive set including a view of corporation/agency association business at a pseudo city codes PCC level.

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Market Intelligence Software Category Overview

What is market intelligence software (rate shopper)?

Defining “market intelligence” in the hotel business, 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 strategy accordingly.

Market intelligence tools and rate shop software help hoteliers make more informed decisions on hotel pricing and hotel revenue strategies based on the latest market trends.  These tools have become increasingly important post-COVID as hotels are less able to rely on historical data even from mature channels like metasearch and GDS. Previously manual processes, such as monitoring competitors’ rates, managing your own property’s (or properties’) rate parity across multiple channels, predicting your competitors’ demand, pulling local event and weather data, etc. are now fully automated. For those who operate a broader portfolio, the time savings is multiplied for each property under management.

 

How can market intelligence software and hotel rate shoppers improve profitability and efficiency?

  • Increased RevPAR: Understanding your market allows you to make informed pricing strategy decisions. 
  • Lowered operational costs: What used to take hours of manual process now takes minutes, even seconds. Your revenue managers can refocus that time and energy to other tasks to optimize revenue for the hotel. 
  • Implement a set strategy: Fresh market intelligence provides a clear understanding of competitor rate strategies, clearing the way for your hotel to develop their own defined rate strategy

 

What are the most important features of a rate shopping tool?

  • Accuracy: Always know with accuracy how your competitors are pricing similar inventory Personalization Customized dashboards make the product your own 
  • Complete data: Be sure to collect complete data that reflects all room and rate types for best comparison 
  • Localization: Understand local events, weather, and other demand drivers On-demand rate shopping in real time Obtain data for specific dates when you need it

 

What makes great market intelligence software?

The best market intelligence software for hotels provides accurate data collected through real-time rate shopping capabilities.  Market intelligence software should also provide an excel tool for flexible data analysis as well as an API for easy connectivity with your revenue management systemproperty management system, channel manager, and even external data sources like OTAs.  Rate shoppers should be able to compare rates across room types at different properties to give a more holistic yet granular view of the market.  The hospitality industry is extremely complex and rate intelligence requires some of the most sophisticated data, tools and strategy to be done well.  Whether you're a hotel chain or independent, rate shoppers should be able to help you compare key metrics like occupancy and length of stay with your local market compset in real-time to adjust your revenue strategy on the fly.

 

What is the typical pricing for market intelligence software?

The pricing of market intelligence tools is based on the amount of rate shopping the hotelier would like to receive on a daily, weekly or monthly basis, the number of hotels to be compared against, and the number of channels to be shopped. Everything can be customized to meet specific needs.

A sample starter package for a set monthly price could include: A handful of comp hotels Several channels unlimited live Expedia re-shops.

Each hotel needs to evaluate what will work for them and if specific reports will need to be built to meet specific needs so that the hotel has the best opportunity to maximize revenue. They also should consider if support packages and the ability to make changes as needed are included in cost or come at an additional fee. A Premium package could include multiple daily 365-day reports at over $500 a month.

 

How long does it usually take for a hotel to implement new market intelligence software?

On average, it takes 2 business days to launch a hotel from the time of receiving the setup information to delivery of the first reports.

Once information is received there should be no downtime, as there is no integration required or data migrations. Ideally some form of training, whether live or through short videos, could be provided to assist in the adoption once integrated.

 

How do I know when it’s time for my hotel to move onto new market intelligence software?

If your hotel collects their rate shopping data via API then this is a no brainer, because it is a one-time mapping. A quality market intelligence tool will supply the data exactly where it was before, making it so there is no impact on the user. The ideal situation is that you are choosing a tool with the intelligence to quite simply switch off one tool and start the next moment with the new one – potentially even having them run at the same time for a period of time. This allows for zero risk. Prior to a switch, training and a trial are great options to get everyone accustomed to the new system before the old one goes down.

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