Among other things, your hotel should be monitoring the room rates of your competitors so you can see just how competitive your pricing is and react in a timely manner when needed. Here are a few examples of what you can do with the information at hand: 1. Value-match competitors One of the ways you can use competitor pricing to increase your hotel’s revenue is by matching them on price. Set one room rate at the same price point as competitors, and set another room at a slightly higher rate. This allows you to attract deal seekers without sacrificing the opportunity to make a slightly bigger profit. Keep in mind that value-for-money is the key point here – value-matching goes beyond bringing your hotel in line with your competitors’ rates or simply making your hotel rooms cheaper. Get the full story at SiteMinder