Hotel Revenue Management

What Should You Look For In A Rate Comparison Tool?

Rate comparison tools are growing in popularity amongst great value hotels, offering you – and your customers – the chance to check your reservation choices against competitors. These handy apps and add-ons are an increasingly desirable facet of hotel reservation system software, and it’s not difficult to see why, as they can:

 Reduce your abandoned bookings by reassuring customers they are getting the very best deal for their travel preferences – before they purchase a stay.
 Give you the information you need to make any necessary changes to your pricing strategy.
 Increase your ROI by enhancing the customer experience and improving your booking system’s capabilities overall.

A rate comparison tool such as the one offered by Digital Hotelier can give you – and your guests – the peace of mind which comes with knowing they’ve made the right choice.
But what should you look out for when choosing yours?

rate-comparison-detailsUser Experience
The purpose of a rate comparison tool is to help you aggregate your pricing against competitors. This means providing a superior user experience overall – including but not limited to making sure your rate comparison tool is placed on your booking system in a way which does not detract from the overall appearance of the site. Clunky or out-dated systems which obscure booking information or confuse those trying to input their details will only slow you and your customers down, so be sure to opt for the best.

Tying in with the first priority for choosing a rate comparison tool, the speed of any such addition should be high on your list of essentials. Just because your customers want to see how you stack up against the competition, this doesn’t mean they want to spend all day checking. Assessing the system for speed and agility during the initial load phase should be chief among your concerns when selecting software.

What use is a comparison tool which gives the wrong information? Choosing software which presents inaccurate data could be hugely detrimental to consumer trust and ultimately damage your bookings. Ensuring you select software which provides only the highest levels of accuracy is among the key factors to look out for whilst making your choice.

Quick Filtering
This ties in closely with the speed of the rate comparison tool overall, but also has more specific pertinence to how quickly (and accurately) results are filtered after you have input your priorities. A fast and effective filter can help ensure equally speedy bookings from value-conscious travellers.

Detailed Reporting
A high quality rate comparison tool should provide you with detailed and accessible data, as without the ability to analyse the data gathered over time, you will not be able to make necessary changes. This form of reporting is invaluable for refining and continually improving upon your system and if need be, your pricing strategy – in order to make sure you always stay at the very top of your game.