Rate shopping is a fundamental part of any revenue management strategy. Revenue managers track the competition’s pricing in meticulous detail—a daunting task. The complexity of the competitive landscape often turns rate shopping into a reactive pursuit, a mad scramble across direct channels, OTAs, and other outlets to retrieve quick, yet accurate information.
It doesn’t have to be this way. Think of rate shopping as a flow, an active strategy where the benefits compound to grow your business. In the following chart, learn how an active rate shopping strategy delivers credibility, guests, revenue, and market influence.