Find out by how much your pricing strategy varies from the market and from your competitors by using the ADR graph and Calendar Price Variations.
Step 1: Go to Rate&Demand, and select the Market Overview tab
Step 2: Check the Average Nightly Rate* graph and analyze your pricing trends against the market. Do they rise and fall together?
*To know which listings are informing the averages, head over to the Listing Level View tab
Step 3: Now narrow down your analysis against your competitive set by using filters and/or your customizable Listings Group. Are your increases and decreases in rates aligned with your competitors?
Step 4: After visualizing your upcoming rates, go to the Calendar tab and select Price Variations.
Here you can begin to understand seasonality by comparing pricing strategies for each date.
Step 5: When analyzing each date, take note of how green or red your percentage button looks. The greener, the more you’re lowering your rate from your yearly average. If it’s very red, that means you’re raising your rates much higher than your yearly average. The same logic applies for your competitors and their yearly averages.
Are you raising or lowering your prices by the same amount on each date?