5* Thessaloniki - Start Positions

by Victor Matsas • 01 Nov 2024

Location: Greece, Thessaloniki

We decided to apply our model to the group of 5 star hotels in Thessaloniki.
5* Thessaloniki - Start Positions
I remind you that we see each hotel as a pool of rooms above which there is a rain cloud representing potential clientele and a leakage cannula that shows us the ability of each unit to convert interested guests into real customers.

After measuring dozens of parameters, searches, keywords, comments, rankings, etc. from the most popular sites such as Booking, Google and TripAdvisor we arrived at the ranking order of the chart below.

For comparison, the score was based on the distance between each contestant and the one in first place.

I remind you that the ranking shows us the degree of difficulty that a Revenue Manager has to face when undertaking to "run" each accommodation. The higher, the more ahead he has over the competition and therefore the easier his task.

First on our list is Vanoro Hotel, followed by Electra Palace, S Hotel Boutique, Daios etc. We notice that the combination of a relatively limited pool of rooms with a good searchability and good reviews brought to the first places mainly Boutique hotels.

As we pointed out in the previous post, this list is nothing but a ranking order before the starting line. In order to find out which of the drivers have their foot on the accelerator and which on the brakes, we shopped at Booking on a random day in October and found the prices listed next to each unit.

The ratio of the selling price of each accommodation to the weighted average price of the group, multiplied by the distance that separates it from the first in the ranking, shows us whether a hotel sells at overpriced or undervalued prices. When this ratio is close to the unit it means that the hotel is well positioned in the market, well below the unit means that it is overpriced and much larger than the unit means that it sells low compared to its capabilities.

The diagram that will accompany the next post will be extremely revealing!

* This study is the result of a joint effort between the Hotel Insider team and Panadvert.