1. Access Pricing Settings
Begin by opening a listing and selecting the pricing engine. You have the option to choose between Boom Pricing or one of our integrations.
Open the desired property listing in Boom
Navigate to the Pricing section within the listing
Select the Pricing Engine
Options include Boom Pricing or third-party integrations
2. Select Pricing Type
Choose between Boom Pricing or one of the available integrations. The specifics regarding integrations will be covered in a separate video. To initiate Boom Pricing, navigate to pricing settings and choose one of the three options: dynamic, static, or seasonal.
3. Boom Pricing
To initiate Boom Pricing, navigate to pricing settings and choose one of the three options: dynamic, static, or seasonal.
Boom offers three pricing models:
Dynamic Pricing (automated adjustments)
Static Pricing (fixed rates)
Seasonal Pricing (date-based pricing rules)
Select the pricing method that aligns with your strategy
3. Configure Base Price (Dynamic Pricing)
Dynamic pricing allows for automatic adjustments based on specified settings. Start by establishing the base settings. Set the base price, which is the standard nightly rate without any markups.
Configure the minimum price for weekends, weekdays, and the maximum price. These act as pricing boundaries, ensuring prices do not fall below the minimum or exceed the maximum. If uncertain about these settings, use the AI feature for price recommendations based on location and property type.
Set the Base Price
Represents the standard nightly rate before any adjustments
Define Minimum and Maximum Price Limits
Separate limits for weekdays and weekends
Prevents prices from dropping too low or exceeding thresholds
Optional: Use AI Price Suggestions
Based on location, market data, and property characteristics
4. Set Seasonality Adjustments
In addition to the base settings, you can configure seasonality.
Apply percentage-based markups or markdowns
Seasonality can be configured by:
Month of the year
Day of the week
Lead time to booking
Occupancy level
Both positive and negative percentages are supported
5. Understand Pricing Calculation Order
Calculations are performed sequentially: first, the percentage for month seasonality is determined, then adjustments for the day of the week, and so forth. To view the calculation logic, access the calendar and hover over any date.
Boom applies pricing rules sequentially:
Base price
Monthly seasonality adjustment
Day-of-week adjustment
Additional rules (occupancy, lead time, etc.)
To review calculations:
Open the calendar
Hover over a specific date to see the full price breakdown
Helps refine and troubleshoot pricing logic
6. Group Pricing & Auto Scramble
The calendar view allows you to see detailed calculations and modify your strategy. You can also establish group pricing for similar properties and activate auto scramble.
7. Configure Auto Scramble and Minimum Night Rules
Auto scramble changes the price by 1% to enhance property visibility on OTAs. Additionally, you can set minimum night requirements for weekends and weekdays, including exceptions for hourly night caps.
8. Set Up Static Pricing and Understand Static Pricing Behavior
Apart from dynamic pricing, you can configure a static pricing model.
Static pricing remains constant and does not adjust automatically. The set prices apply to each day of the week, and seasonality does not influence this pricing model. You can also opt for a seasonal pricing setup.
9. Understand Seasonal Pricing as a Hybrid Model and Create and Apply a Season.
Create a season by naming it and selecting a date range. Apply it annually or only for the selected dates. During this period, set a fixed price and minimum night stay. For dates outside this range, use dynamic or static pricing.
10. Review Pricing Statistics and Logs
The pricing tool also provides statistics, including occupancy trends, ADR comparisons between the current and previous year, and market comparisons. Additionally, you can view logs of price changes.
11. Save, Sync, and Scale Pricing Strategies
Ensure to save all changes and sync your pricing updates. Beyond individual property pricing setup, you can establish broader pricing strategies, to be discussed in an upcoming video.
