How to edit your competitor settings (compset) in Mews RMS

Mews OperationsMews RMS

 

You edit your competitor settings in Mews RMS to compare your property's pricing against similar properties in your market. As a revenue manager or property team member, you update your competitor set when your market changes or when you want to refine the properties you benchmark against. You manage competitor settings in Mews Operations, from the Settings page in the Pricing screen under Revenue. Keeping your competitor set accurate ensures Mews RMS has relevant market data to support your pricing decisions. 

 

In this article, you can learn about:

 

How to update your competitor list

You can edit your competitor list directly in Mews RMS.

  1. In Mews Operations, go to the main menu Main menu > Revenue > Pricing.
  2. Go to Settings.
  3. Click the Competitors tab.
  4. Click Edit competitors. A side panel opens showing your current competitor list.
  5. To replace a competitor, click × next to the competitor's name, then type the name of the new property in the search field and select it from the list. You can add up to 5 competitors.
  6. In the Online Travel Agent (OTA) section, under Competitor pricing, click the dropdown and select the online travel agency to use for competitor rate data. Booking.com is selected by default.
    • Booking.com
    • Expedia
ⓘNote
  • Choose the channel that best represents how your target guests book. If your market is predominantly Expedia-driven, switching ensures your competitor data reflects where the real pricing competition is happening.
  • If a competitor is missing from the list, create a support ticket via the Mews Digital Assistant.
  1. Click Save.

Mews RMS updates in the background while it fetches the new competitor prices. Your current competitor set stays active during this time. When the update is complete, your new competitors appear in the Competitors tab.

ⓘNote
  • After the update completes, you can map your space categories against each competitor's room types on the online travel agency. This ensures competitor prices display accurately in Mews RMS.

How to set your competitor preferences

In the Preferences settings within the Competitors tab, you control how competitor prices are displayed in Mews RMS. These settings do not affect the underlying price optimization calculations.

  1. In Mews Operations, go to the main menu Main menu   > Revenue > Pricing.
  2. Go to Settings.
  3. Click the Competitors tab.
  4. Click Preferences.
  5. Under Competitor rate type, click the dropdown and select the rate type your property primarily sells. Refundable is selected by default.
    • Refundable: refundable rates only.
    • Lowest available: lowest available rate, including non-refundable.
ⓘNote
  • Refundable and non-refundable rates can differ significantly. Set this to match the rate type your property primarily sells. If your revenue strategy focuses on non-refundable promotions, select Lowest available for an accurate comparison.
  1. Under Guest pricing (PAX), for each space category, click the dropdown and select the number of guests whose prices Mews RMS fetches from competitor listings. 1 Guest is selected by default.
    • 1 Guest
    • 2 Guests
ⓘNote
  • Room types with a standard occupancy of 2 guests are typically priced differently for 1 guest versus 2. Set this to match the standard occupancy of each space category to ensure an accurate comparison.
  1. Click Save.

Your preference settings are now updated.

With your competitor settings updated, Mews RMS uses accurate market data to support your pricing decisions.

 

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