Listing Hotel Data
Knowing how hotels and short-term rentals are performing in your area is essential because potential guests consider both options when planning their vacations. Keeping track of both types of accommodations allows you to stay competitive in your market. Thus, we have improved our Hotel Data (powered by better quality data from booking.com) and provided you with more functionalities to analyze your hyperlocal market.
Before You Start
- There may be certain cases where you wouldn't find the hotels that you are looking for, and this could be because of the following 2 reasons:
- The hotel is not listed on booking.com
- We do not classify those property types as hotels in our data (for e.g., campsite) If you think those should be there, please do reach out to support@pricelabs.co with your questions, and we will be happy to help.
- Hotel Rates are updated every 48 hours, while metadata (i.e., bedroom count, etc.) are refreshed every 15 days.
Benefit of Using Hotel Data
The hotel data provides you with valuable insights into the pricing strategies of nearby hotels. However, please note that our algorithm automatically selects a set of hotels as one of many inputs in generating your price recommendations, and the selections you make here are more for benchmarking your prices with nearby hotels.
Hotel Price Tracker
The hotels selected here will be used for Dynamic Pricing IF ONLY you are using Selected in Hotel Data tab in the Customize Hotel Compsets setting. In case it is a child listing, the selections in the Parent listing hotel data tab will be used.
This customization is a by-request feature, however, if suggested in the Smart Presets, it will automatically be enabled for your account. Please email us at support@pricelabs.co to enable this customization for your account if you cannot see it on your customizations.
Select Hotels
This feature allows you to select specific hotels in your neighborhood to compare with your listing. Simply click Change Compset as shown below.
You have 3 options to select the hotels
- You can select your 10 nearest competitors just by clicking the Select 10 Nearest button.
- You can choose to select up to 350 properties via the dropdown menu.
- Using the map feature, you can select competitors directly from a visual interface
Length of Stay Filter
Length of Stay filter helps you see prices for various minimum stay. LOS =2 means, that the prices shown are available for minimum stay of 2 consecutive nights.
LOS filter can help you in 2 ways:
- Discounts/premiums applied in case of longer/shorter stays
- They also help you analyze minimum stay criteria for hotels. For some hotels, you would not find any nightly rates corresponding to a selected LOS, because the minimum stay criteria is not met. If a lot of hotels in your neighborhood have min-stay of let's say 3 days, then it might be good to look and adjust your min stay criteria
Table & Graph View
- Table View
Allows you to easily compare nightly rates among the selected hotels. Your listing prices are in bold, while unavailable dates are slashed and greyed out. Clicking on the hotel name in the table will take you to the hotel's booking.com page. You can also see how much your competitors’ prices have changed in the last 48 hours by checking the red/green percentage below the price
On the table view, you'll find instead of rates, terms NB and NA are used. Their meaning are as follows - NB - is shown if the date is "Not Bookable" for the selected LOS. The rates are available for a different LOS
- NA - is shown if the rates are not available for any of the LOS
- Graph View
Allows you to compare your pricing position among the selected hotels. By clicking on a name on the legend, you can hide/show the corresponding hotel line on the graph. The Black line represents your "Recommended Price".
You can also benchmark your property against your competitors and detect peak demand periods easily. This will help you better understand PriceLabs’ rate recommendations and if needed, adjust your pricing strategy
Full Screen Mode
For a broader perspective, the improved UI/UX and full-screen mode offer deep, detailed analysis in both tabular and graphical formats.
Download CSV
You can also download a CSV file of the rates of your selected hotels based on LOS for the next 366 days.
Video Overview
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