Is your hotel underpriced?
Step 1 of 4How fast do your best nights sell out?
Think of your five busiest transient nights in the last six months. Leave out anything that filled on a group block or a buyout.
Does that night fill reliably, year after year, at roughly the same rate?
Where do you sit against your comp set?
Pick a future date you expect to be busy. Look up your five competitors on a booking site as a guest would, and enter what each is asking. Skip any you do not have.
Repeat this monthly on new dates. One reading tells you very little. Three months of readings tells you whether the bottom is a pattern or an accident.
What is the spread between busy and quiet?
Estimates are fine. Your average rate on your five busiest nights, and on your five quietest.
Do your room types still make sense?
Allowing for how few of them you have, how do your best rooms sell compared with your standards?
When did you last change the price difference between your room types?
This is a position, not a number. It cannot tell you what you lost. Public rates are asking prices, so they do not show discounts, negotiated rates, commission, or how full anyone else was.