Jim Rozell, Founder & CEOIn recent years, businesses in hospitality sector are trying to cope up with the increased competition in a multi-channel environment, need for brand differentiation, and the ever-developing opportunities and challenges in the market. The urge to predict the behavior of potential bookers along with identifying the advantages of their hotel versus other competitors; has forced the hoteliers to look for tools based on comprehensive market and consumer data. “The idea that every hotel had a static and relatively compact set of 'true' competitors never seemed to make sense to us,” says Jim Rozell, Founder and CEO, Hotel Compete. To change this perspective of hoteliers, about the way they look towards competitive positioning, Rozell founded Hotel Compete.
The company takes the belief that potential bookers start with a location, budget, and a set of desired services in mind when they search for hotel, and collects the same data regarding these aspects to formulate a set of tools that help hotels generate increased revenue. “We are pushing hoteliers to look at the things that a potential customer will be looking at when making a decision,” adds Rozell. “That is what we refer to as a booker’s eye view, and have developed a series of analytic tools based on this approach.”
The company’s core product Compset Analyzer provides its customers a real view of what their potential booker is expecting from them and also enables them to have a broader view of the competitive set they should be tracking. In addition, Hotel Compete’s Rate Trends Tracker is the comprehensive price comparison tool, offering 90 days forward, two check-in checkout patterns for 14 competitors per day. “Our Rate Trends Tracker allows the consumer to maintain rate parity by displaying inaccuracies and inadequacies,” extols Rozell. “It also compares the customer’s hotel with their competitors on daily basis and offer reports in color-coded actionable format.”
Further adding to the product portfolio of Hotel Compete is the Content Analyzer that allows customers to view the set of images, descriptions, list of services, amenities, and location information that is displayed on their hotel’s website versus what is shown on OTAs.
We are pushing hoteliers to look at the things that a potential customer will be looking at when making a decision
The product also offers increased competitiveness by allowing comparison and auditing whenever required. Another offering of the company is the Market Metrics tool that performs SWOT analysis for hoteliers. Market Metrics tool allows the customers to assess their content and searchability scoring along with rate positioning, while integrating with other tools and providing outcomes in a single report.
Being a customer-centric company Hotel Compete focuses on helping its clients to augment their revenue and earn more reservations. In one such instance, the company helped one of their largest customers, who were looking for cheaper and frequent market information. “A lot of prospective bookers were checking the rates of our customer and then switched to another website,” delineates Rozell. Hotel Compete assisted them by continuously updating rates and availability dates on their system and giving them better understanding of their rate positioning. “We helped our customers to broaden their hotel classes and enabled their members to achieve higher revenue,” adds Rozell
For the road ahead, Hotel Compete is planning to expand its business operations internationally. From the technology perspective, the company is working to provide its tools online by the end of 2016 and also offer its clients meta-search products. “At the end of the day, our goal is to expand clients’ view of marketplace and competitors than they traditionally did,” concludes Rozell.