Check the public rates of your competition, at least once a week. What are their strategies? What is the probability that they will decrease or increase their rates on specific period? Make sure you know what rates your competition is selling at…
Also check periodically pricing by LOS i.e. 2 nights stay by arrival day, 3 nights stay by arrival day etc.
Identify opportunities when you can follow up the market as shown in the above example!
You may decide to subscribe to a Rate Shopping Tool (below an example from RateTiger Shopper).
For more information on how to implement yield strategies in your hotel click here: hotel revenue management.