Atomize benchmarks the hotel’s pricing against their competitors each day and uses competitor pricing as one influential parameter in the model demand in order to calculate the optimal price.
To ensure that the application is benchmarking the prices against the correct products you are required to map your room types against your competitors’ equivalent room types. This information is displayed in the application.
Take a look at this video to learn how to map your compset in Atomize:
Sometimes you might have the need to change your existing compset. This article will give you insights into what to consider when selecting compset and how to go about to change it.
Some hotels might find it beneficial to work beyond the static competitive set. If so, there is an option to additionally contract a multi-compset that allows them to use different competitors for different seasons or days of week. This may be useful for hotels with high seasonal changes and also those that drastically change the type of clientele for a particular time period.