Why is looking at competitors' prices not worth the effort?
You lose the big picture
In addition to overlooking important elements that your competitors may be ignoring (events, weather, destination trends, etc.), you don't know how much their occupancy, customer type, and other factors unknown to you impact their pricing.
You spend your time poorly
Obsessively watching what others are doing takes away a lot of precious hours that you could be spending on something else. In addition to wasting time looking at other people's prices, you spend just as much time calculating your own.
You lose focus on your business
Basing your prices on what others are doing makes you succumb to their decisions and forget about improving your own hospitality business. Does it make sense to look at competitors' prices if your service loses quality?
Are these prices really the right ones?
Who assures you that your competitors know what they are doing and offer correct prices? And who tells you that the ones you propose after their analysis are really profitable? You cannot know and are left wondering.