Hotel meta Trivago has upgraded its Rates Insight tool to give hoteliers access to not only competitors' pricing information, sourced from some 180 sites, but also demand patterns.
The idea is that hoteliers can monitor their rivals' prices across the web and adjust their own accordingly.
As well as rates, the new product will also share insights related to demand by analysing search patterns, giving hoteliers another data set upon which to base their pricing decisions.
It also includes a local events calendar so that hoteliers can synch anticipated changes in demand with the pricing insights.
The rate and demand data will be presented to hotels in a single dashboard.
The tool is a B2B manifestation of its core consumer-facing price comparison function. Johannes Thomas, its chief revenue officer, said' "We realized that the price comparison data we provide to travelers is equally valuable for hoteliers."
The data is mined from around 180 third-party booking sites which work with Trivago, as well as hotel dotcoms so that direct prices can also be factored in. Trivago claims that it is making hoteliers' lives easier by helping them "overcome the time-consuming challenge of monitoring the market, their competitors’ prices, and their own."
Click here to read the blog post which goes into more detail.
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