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NederlandsYour competitor set is the group of similar properties that Mews RMS compares your pricing against. As a revenue manager or property team member, you edit your competitor settings when your market changes or when you want to refine the properties you compare your pricing against. Keeping your competitor set accurate gives Mews RMS relevant market data to support your pricing decisions.
You can add up to 5 competitors. Mews RMS keeps your current competitor set active while it collects the prices of new competitors. The preferences settings change how Mews RMS displays competitor prices, and they do not affect the underlying price optimization calculations. If your property uses Atomize RMS by Mews instead of Mews RMS, go to How to edit your competitor settings (compset) in Atomize RMS by Mews.
In this article, you can learn about:
How to update your competitor list in Mews RMS
You can edit your competitor list directly in Mews RMS.
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In Mews Operations, go to the main menu
> Revenue > Pricing.
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Go to Settings.
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Click the Competitors tab.
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Click Edit competitors. A side-window opens showing your current competitor list.
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To replace a competitor, click Close × next to the competitor's name.
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Type the name of the new property in the search field.
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Select the property from the list. You can add up to 5 competitors.
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In the Online Travel Agent (OTA) section, under Competitor pricing, click the dropdown. An online travel agent is the booking website that Mews RMS uses for competitor rate data.
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Select the online travel agent to use for competitor rate data. Booking.com is selected by default.
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Booking.com
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Expedia
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Click Save.
Note
- Choose the channel that best represents how your target guests book. If your market is predominantly Expedia-driven, switching the online travel agent to Expedia ensures your competitor data reflects where the real pricing competition is happening.
- If a competitor is missing from the list, create a support ticket using the Mews Digital Assistant.
Mews RMS collects the new competitor prices and updates in the background. Your current competitor set stays active while Mews RMS updates the prices. 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 agent website. Mapping the space categories 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. The preferences settings do not affect the underlying price optimization calculations.
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In Mews Operations, go to the main menu
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Go to Settings.
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Click the Competitors tab.
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Click Preferences.
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Under Competitor rate type, click the dropdown.
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Select the rate type your property primarily sells. Refundable is selected by default.
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Refundable: refundable rates only.
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Lowest available: lowest available rate, including non-refundable.
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Under Guest pricing (PAX), for each space category, click the dropdown. PAX stands for persons, which here means the number of guests.
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Select the number of guests whose prices Mews RMS collects from competitor listings. 1 Guest is selected by default.
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1 Guest
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2 Guests
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Click Save.
Note
- Refundable and non-refundable rates can differ significantly. Set Competitor rate type 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.
- Space categories with a standard occupancy of 2 guests are typically priced differently for 1 guest versus 2. Set Guest pricing (PAX) to match the standard occupancy of each space category to ensure an accurate comparison.
You have now updated your competitor preference settings in Mews RMS. With your updated competitor settings, Mews RMS uses accurate market data to support your pricing decisions.