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Competitor sets and benchmarking
Who you are pricing against, and what they were charging — recorded by hand today, with the door left open for a live rate feed.
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Who this is for: Manager, Owner, Read-only — reading requires
rms.benchmark.read; defining competitors, comp-set membership and recording rates requiresrms.benchmark.manage, which Read-only does not carry. Where: Revenue → Benchmarking
Every other screen in Revenue reasons about your own bookings. This one is the outside view: who you compete with, and what they were charging on a given date. Nothing here changes a price — it is the evidence a rate recommendation or a manual decision gets checked against.
The screen has two tabs: Comp Set, where you say who counts, and Rates, where you record what they charged.
Build the comp set#
- Select Add competitor.
- Name it, and optionally record its star rating and its distance in kilometres.
- Select Add competitor.
A competitor with no weight is on file but does not count as part of the comp set. Set a weight on each competitor you actually want to compare against — clearing it back to zero removes the competitor from the comp set without deleting the competitor record itself. A flagship four blocks away you watch loosely can carry a lower weight than the direct competitor next door.
Record a rate#
- Switch to the Rates tab.
- Select Record rate.
- Choose the competitor, the date the rate applied, the rate, and its currency.
- Select Record rate.
Each entry is dated, so the rate list is a history, not a single current figure — you can see how a competitor's price moved across a window, not just where it sits today.
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Every rate carries a source. A manually captured rate — someone calling the competitor and writing down what they quoted, the Hotcomp-style method most properties use today — is recorded as such. A live 3rd-party feed (CoStar or STR-style) is a second possible source, kept behind a provider seam in the platform so it can be connected later without changing this screen; it ships unconfigured, so every rate you see today is one somebody entered by hand.
What's next#
- Rate recommendations — where a price decision actually gets made
- Revenue analytics — your own occupancy, ADR and RevPAR, to compare against what you just recorded