A new hotel room rate shopping tool developed by TravelClick is to be made available to its 22,000 customers following its launch this week.
Rate360 has been created to offer hoteliers the ability to optimise their revenue management by providing the business intelligence to ensure rate parity across multiple channels.
It has brought ten billion rates from more than 400 sources into one “easy-to-use platform”, according to TravelClick.
Erik Lindquist, senior vice president of business intelligence solutions, said: “As hoteliers know well, a hotel’s rate strategy is often the difference between profit and loss.
“TravelClick recognised that the market needed a new solution to help hoteliers manage rates and availability.
“Rate360 provides hoteliers the business intelligence they need to price rooms effectively, monitor rate parity, and stay ahead of their competition.”
The cloud-based system will enable hoteliers to tailor the extent to which they mine the data available to them, ensure they can access relevant information and can be integrated into existing revenue management systems.
Among the pricing insights TravelClick says Rate360 will help operators with are whether to adjust prices in relation to length of stay, a year-on-year comparison of rates relative to competitors’, and reports on competitors’ daily rates and special offers.
“An effective rate shopping tool is fundamental to a hotel’s success. It empowers hoteliers to make smarter, better informed decisions, to optimise room rate revenue and to ensure that their pricing is reflective of their brand,” said Lindquist.