What is Rates Advisor and how do I use it?

Rates Advisor is a valuable tool designed to help you optimize property revenue by offering actionable pricing recommendations tailored to your properties.

Accessing Rates Advisor:

1. Head to the left-side menu bar.

2. Click on the “Analytics” dropdown.

3. Choose “Rates Advisor.”

The Rates Advisor feature is structured around four quadrants, each addressing specific scenarios: Below Market Occupancy and Below Average Daily Rate; Below Market Occupancy and Above Average Daily Rate; Above Market Occupancy and Below Average Daily Rate; Above Market Occupancy and Above Average Daily Rate. Each quadrant categorizes properties based on these characteristics.

Consider the following actions for each quadrant:

  1. Higher Occupancy Than Market, Higher ADR Than Prior Year – Consider increasing daily rates.
  2. Higher Occupancy Than Market, Lower ADR Than Prior Year – Consider increasing daily rates.
  3. Lower Occupancy Than Market, Higher ADR Than Prior Year – Consider reducing daily rates.
  4. Lower Occupancy Than Market, Lower ADR Than Prior Year – Consider reducing daily rates – problem queue / seek marketing help.

These actionable insights empower you to make informed decisions about pricing adjustments, enhancing your property’s competitiveness in the market.