PIE (Price Intelligence Engine) - Everything you need to know

Starting from the PIE section of your Main Menu, click on the Overview to quickly take a look at your property’s PIE performance, and identify what needs attention without having to dig through raw data.

Use multiple competitive sets to track, benchmark, and respond to market data.

Our Pricing Intelligence Engine can track your competitors’ availability and rates (overall or by selected accommodations) from OTAs like Expedia, Booking.com, Hotels.com, Hostelworld, Priceline, and Orbitz.

Rules and alerts allow your property to take control of your pricing and distribution strategies. Each rule or alert is set up to respond to real-time market changes including occupancy, restrictions (i.e. length of stay), and competitors’ rates.

The Rate Manager allows you to easily see your current occupancy, update rates, set price differentials derived from base room type and manage the rules or alerts triggered.

Get a complete view of all the important information you need while making rate decisions. Or just set automated rules and the rates will be updated by the system without any manual involvement.

The Rate Shopper allows you to compare your property’s rates to those in your various compsets.

It shows the property's rates and occupancy as well as market data (compset rates and how competitors’ rates have increased or decreased since yesterday) in a detailed view, which can be sorted by competitors' lowest/highest price or by selected accommodations, also showing competitors’ average.

Keep track of local events, like a large conference or concert, that may affect your pricing and distribution strategies.

Events are displayed within various calendars and dashboards to give context to market data.

Keep track of all the changes done in PIE by user or the system in PIE Activity Logs. With this tool you can easily investigate the rules behavior and check the date/time or details of selected changes done in the system.

One of the primary functionalities of PIE is creating and maintaining compsets - a list of similar properties, with which your property competes for business, typically within the same geographical location and similar star rating.

After you select which properties should appear in your compset, we obtain data from the indicated OTAs such as Expedia, Booking.com or Hostelworld, and provide the rates (overall or for the selected accommodation types). We then take these to determine the high and low prices for each competitor. Learn more in our Knowledge Base: PIE - How to create/add a compset.

Once the compsets have been built, the data will instantly appear on the Rate Shopper page.

Compset-based alert triggers a notification each time the base rate in your property is higher/lower than your competitor(s)

The notifications will appear in the following areas of PIE:

• Today's activity block of the Overview page
• Rate Manager page (both Table and List view) for the corresponding dates
• Accommodation Details popup window (accessible by clicking on a date in Rate Manager) under the Rules & Alerts tab

The occupancy-based rules are triggered by the changes in your occupancy and affect your daily rates. You can set up PIE to increase/decrease all or specific accommodations' rates once the occupancy reaches a certain percentage.

You can also set a rule to just suggest those price changes, which you will have to manually accept in the Rate Manager, or to automatically change your prices based on the parameters you set in the rule.

Add Events to indicate dates which are expected to generate demand for your property, like a large concert or the World Cup. You can also add in-house Events like group meetings, workshops or celebrations that are held at the property.

Once events are added, they will appear in the following areas:

• Overview page (Upcoming Events section)
• Rate Manager (Events row under the calendar dates)
• Events page will populate a full list of created events. You can search from this list using the Filter at the top of the page.

After you have implemented the steps above, you can now see all the data populated in different pages that will help you make more informed pricing decisions and generate more revenue.