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Your Market Knowledge

Competitors

One of the key inputs in Life House’s pricing engine is competitor positioning. It is important to note that although competitive positioning will have an impact on your rate strategy, the positioning may change over time as we start to see the pick-up the hotel is generating.

NOTE: IF THERE ARE NO RELEVANT COMPETITORS FOR YOUR PROPERTY, PLEASE SKIP THIS PAGE

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INSTRUCTIONS

Determine a price rating for your property. The actual rating is not that important, but competitor positioning will be determined relative to this rating.

Add relevant competitors to the competitor table. We recommend between 4 and 10 competitors.

Fill out fields in the competitor table for each competitor. A description of each field is below.

Section

Name

Note

Key Information

Name

Name of competitor

Rating

In your opinion, how should this competitor be priced relative to your property

Relevance

How relevant is this property as a competitor? Are potential customers likely to be comparing the two properties when choosing a stay?

Detail

Seasonality Differences

Are there periods of time in the year where this competitor is not as relevant, or more relevant?

Room Type Differences

Are the room types at this property comparable to those at yours?

Other Notes

Any other notes you would like to add about this competitor?

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INPUTS

My Property

My Property

Name

Rating

The Shire Woodstock

There are no rows in this table

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Competitors

Competitors

Name

Rating

Relevance

Input Details

Holiday Inn

There are no rows in this table

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Add Competitor

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Another approach

Competitor’s rates when our property’s base room is at $100

Competitors 2

Competitors 2

Name

Competitor Rates

Relevance

Reason for this price positioning

$0.00

There are no rows in this table

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