Rate Wise

Rate Wise is a revenue management solution designed for hotels and serviced apartments. It combines revenue management software with consultancy services to assist revenue managers, general managers, sales and marketing managers, operations managers, and hotel owners in optimizing their rate strategies and maximizing revenue. According to the vendor, Rate Wise caters to businesses of various sizes, providing them with tools and expertise to achieve their revenue goals.

Key Features

Revenue Management Software: Rate Wise consolidates rate strategy, property management system data, and competitor data into one user-friendly tool. According to the vendor, it automates rate and pricing strategy for the next 365+ days, providing rate recommendations based on historical data and competitor analysis. Additionally, it monitors high-yielding dates and performance.

Rate Setting Tool: With Rate Wise, users can publish their rate strategy manually or utilize the autopilot function for automated rate adjustments. The tool analyzes competitor pricing strategies, reviews pace data, and considers last year's performance to ensure optimal rate decisions. It also monitors the performance of high-yielding dates.

Shopper Tool: The Shopper Tool in Rate Wise provides up-to-date competitor rate shops for the next 180 days. Users can access data on three main competitors and have the option to include additional competitors for market analysis.

Pick Up Tool: Rate Wise offers a holistic view of pickup patterns for any date range, allowing users to analyze and optimize their rate strategy. The tool displays pickup data in daily, weekly, monthly, or yearly views and breaks down the data by market segment for rate optimization.

Forecasting: Rate Wise enables forecasting by market segment for a rolling 12-month period. It incorporates pickup patterns, pace to last year, last year final, and budget figures to provide revenue projections.

Business Analytics: With Rate Wise, users can store and analyze business performance data from 2019 onwards. The software allows for easy navigation of daily or monthly performance by market segment, facilitates comparison with historic years' data and pace data, and identifies displacement by market segment or day of the week performance.

Integration with Property Management Systems and Channel Managers: Rate Wise seamlessly integrates with leading property management systems, channel managers, and booking engines. According to the vendor, its user-friendly dashboard ensures effortless integration and data synchronization.

Revenue Management Consultancy: In addition to its software, Rate Wise offers revenue management consultancy services. Their team of experts provides advice on rate strategy, software utilization, distribution, benchmarking, and OTA management. They implement best practices methodologies and analyze and optimize the business mix for increased revenue and lower distribution costs.

Training and Support: Rate Wise provides comprehensive training by Client Support Specialists at no extra cost. Users also have access to a dedicated account manager for ongoing support and guidance. Monthly performance reviews and forecasting assistance further enhance the support offered by Rate Wise.