Pricing Strategies

You can use the Pricing Strategies screen to define a pricing strategy for the property.
A list of pricing strategies is displayed wherein you can view this information:
Pricing Strategy
Name of the set of prices. By default, only prices that are automatically extracted and populated by the engines are shown until you create your first strategy.
Description
Description of the pricing strategy.
Days of Week
Days of the week for which you have created the pricing strategy. If the strategy is for all days of the week, then 'All' is displayed. But, if for selected days of the week, then the applicable days are displayed using the first two letters. For example, Tu, Th, Sa, and so on.
Color
You can assign a color to represent the strategy. Default is white.
Status
Shows the status as Active/Inactive. If there is at least one day in the future for those prices, then it is Active.
Last Update
Shows the date of the last update to the pricing strategy, based on changes to either the prices or the applicable dates.
You can use the Edit option in the list to modify a pricing strategy. The modification is possible based on these pricing strategies selected on the Pricing tab on the Parameters screen:
  • If the BAR (Best Available Rate) Level Recommendation option is selected, you can configure the pricing of room types for each BAR level on the Optimization Control tab of the Strategy Control screen for each pricing strategy. To create a strategy:
    • You must select an existing strategy as template, using the Start From field. The configuration of the existing pricing strategy is defaulted to the new pricing strategy. See, Creating a pricing strategy (BAR Level Recommendation)
    • The columns on the Optimization Control tab are displayed based on the number of guests configured for the default pricing strategy.
  • If Continuous Pricing option is selected, you must set the minimum and maximum price for reference room type in each room class. The pricing is recommended based on these scenarios:
    • If Minimum Price Difference vs Featured Room Type (KR) is set to zero for the reference room type and specified for the other room types, the application recommends the price for each room type using this formula: RMS Price for reference room type + minimum price difference specified for the room type
    • If Minimum Price Difference vs Featured Room Type (KR) is set to a value other than zero for all the room types, the application recommends the price for each room type using this formula: RMS Price for reference room type + minimum price difference specified for the room type – minimum price difference specified for the reference room type.
  • If the Continuous Pricing option is selected on the Pricing section and the Append ending to published prices on publish option is selected, you can view the price ending when you rest the pointer on the price.

With an automated default setup comprised of the pricing data from the PMS and a calendar view to manage longer periods, you can manage offsets linearly as an amount or non-linearly as a percentage, for the room types and the number of guests occupying the room.

For example, you can have a default price differential between a standard room and a deluxe room of $20, but increase the differential on weekends when there is more demand for deluxe rooms. These are linear price differentials.

The differential can also be expressed as a percentage, meaning that you do not need the calendar. You can automate the adjustment for low demand and peak demand periods. These non-linear price differentials.

Price differentials can also be defined for these room types, according to their occupancy levels::

  • Single: The price difference to be applied on the price of the reference room type and one guest.
  • Double: The price difference to be applied on the price of the reference room type and two guests.
  • Triple: The price difference to be applied on the price of the reference room type and three guests.
  • Quadruple: The price difference to be applied on the price of the reference room type and four guests.
  • Adult: The charge to be applied for an additional adult staying in the room.
  • Child: The charge to be applied for an additional child staying in the room.