If you want your Rate Plans (Rate, Min Stay, Max Stay, and Availability) to be changed automatically, you can define certain rules which we call Rate Rules. To create a Rate Rule, you should complete the Period, during which the Rate Rule is active, the Conditions, based on which the Actions are applied to the rates, and choose the rate plans you want the rules to apply to.
NOTE: It might take a few minutes after you save a Rate Rule to affect your rate plan(s).
How to set new Rate Rules:
Step 1: Go to Pricing -> Rate Rules, and click on Create Rate Rule button.
Step 2: Choose a title for your Rate Rule. For example, Last Minute Booking Rates, or Orphan Night Rates.
Step 3: Period
Select the Start Date and End Date of the period in which you want the rate rules to be applied.
Note: If you change the toggle bar to Repeat Annually, the rules will be repeated automatically for the same period in the coming years.
Step 4: Conditions (Optional)
There are several toggle bars in this section. You can turn one or several of them on at the same time. For example, if you turn on Days of The Week and Occupancy Level at the same time you can say, “On the weekdays, if the occupancy level is less than 50%, decrease the rates by 30%”
Days of The Week: the rule will be applied ONLY on the selected days.
Occupancy: If you turn this on if the occupancy level is less or/and more than a certain percentage the rules will be applied.
NOTE: you don’t need to fill both boxes.
Lead Time: This option specifies how far in advance you want the Rate Rule Actions to be applied.
For Early Bird Bookings, set Up to x days ahead of Arrival Date, at. For example, if you want to bring down the prices for those who book more than or equal to 60 days prior to arrival date, you should set “Up to 60 days ahead at 7 AM.”
For the last-minute bookings, set As of x days ahead of Arrival Date. For example, if you want to increase the price for the last-minute bookings, you can use “As of 2 days ahead at 12 PM.”
For the advance booking window, set Up To x days ahead of Arrival Date. For example, if you want to close the availability after 6 months, you can use stop sell up to 180 days ahead of arrival date at…
For Cut-off time, set As of x days or hours. If you don’t want your property to be available one day before the arrival time you can set, stop sell as of 1 day ahead of arrival date at 6 pm.
Adjacent Nights: If you turn the toggle on, you can apply the action some days before or after the unit type becomes unavailable. For example, if you want a day for cleaning after the departure of your guest, you can set “Apply to 1 night after a Unit Type becomes unavailable.”
If the number of nights between two bookings is less than the minimum stay specified in the rate plan, those nights are classed as ‘orphan nights‘. If you turn this toggle on, the actions will apply on these days. For example, if you have the minimum stay of 2 nights, if you have one day available, you can change the Min Stay to 1 and at the same time decrease the price.
Step 5: Actions
In this section, you can set what actions you want to apply to the rates. You can choose several Actions at the same time.
Change Rates: you can decrease or increase rates by percentage or a fixed number.
NOTE: If you are using several Rate Rules for a rate plan, you can use “but do not exceed x% or a fixed rate across all applicable Rate Rules”. Otherwise, you don’t need to fill that box.
NOTE: If you have several Rate Rules for a period, and therefore, several cap rates, the system will consider a rate that results in the highest price. For example, if you have a cap rate of 20% and another one for 10%, in the case of “increase” the 20% will be considered and 10% will be considered for “decrease”.
Length of Stay: you can change either Min Stay or Max Stay or both at the same time.
Override Stop Sell: If you choose Prevent Bookings, the listing won’t be available. Allow Bookings, makes the listing available again.
Override Stop Check-Ins: If you choose Prevent Check-Ins, guests can’t arrive on that date. Allow Check-Ins, removes the limitation.
Override Stop Check-Outs: If you choose Prevent Check-Outs guests can’t check out on that date. Allow Check-Outs, removes the limitation.
Step 6: Apply to:
In this part, you should select the rate plan(s) which you want to change. When you turn on the toggle bars for Channel or Direct Booking, they filter the rate plans accordingly.
Note: if you have several Rate Rules for a rate plan, the Minimum Stay in one rule is greater than the Maximum Stay in another rule for a specific date, that rate plan will become unavailable on that date as both conditions cannot be met.
Step 7: Save the rate rule by clicking on Save and Close
Step 8: Set Priority.
If you have several rate rules for a rate plan at the same time, you should set the priority for the Rate Rules. Because Actions of are applied to the rate plan based on the priority. You can change the priority In the grid, under priority.
For Change Rate: the actions are applied from the lowest number to the highest. For example, if you have a 10% increase with the priority 10 and a 20% increase with the priority 20, first the rate is increased by 10% and then the result is increased by 20%. For example, if the rate is $100, first it is increased to $110 and then the second rule is applied and changes it to $132.
For Length of Stay/ Stop Check-ins/ Stop Check-Outs: the actions are applied from the lowest number to the highest. This means if you have two rate rules with the priorities of 10 that says 3 Min Stay and 20 that says 4 Min Stay, the last one (4 Min Stay) will be applied to the rate plan.
Note: you can skip Conditions. For instance, if you want to reduce your rates by 10%, it’s enough to set the Period, the Action as Decrease by 10% and select the rate plan.
Note: you can enable or disable a Rate Rule from the Grid. Click on the three dots at the end of the row and click on the turn on/off sign.