It feels like we just sat down a few weeks ago to establish our 2017 goals, but now, here we are starting 2018. For many independent hoteliers, the New Year presents fresh opportunities to grow their business by increasing bookings, developing new revenue streams and updating product offerings. Having a strong operating plan is the first step toward achieving your New Year’s goals, but it’s also critical to understand your local market competitors. To help independents strengthen their local market knowledge, we’ve launched the innRoad Hotel Grader.
The innRoad Hotel Grader is a helpful tool that analyzes local area competition for independent hotels. Based on your hotel’s geographic location, your Hotel Grader report will include:
- Your ADR compared to 3-5 surrounding hotels
- The OTAs that are in use in your area
- A summary of the ratings and reviews of nearby hotels
With this information, independent hoteliers will have a strong starting point to continue a deeper dive into better understanding their competitors. Utilizing tactics such as online research, in-person site visits and overnight stays, independents can gather all of the data needed to ensure their hotel remains a leader in the local market.