Note: The video shows an earlier version of the pricing tool.
Dynamic pricing is a flexible pricing strategy that adjusts rates based on demand, competition, time of year, and other market factors. These values allow for flexible pricing while maintaining control over the lowest and highest possible rates. Dynamic pricing helps maximize revenue by adjusting to demand fluctuations while protecting against excessively low or high prices.
Base price: The starting price point for the property. Dynamic pricing will adjust rates up or down from this base based on real-time factors like demand and booking patterns.
Min price weekends: The minimum rate allowed for weekends (when demand is typically higher). Even with low demand, the price won’t drop below this threshold.
Min price weekdays: The minimum price for weekdays, possibly set lower to encourage bookings when demand is typically lower.
Max price: The ceiling for the dynamic pricing model. The rate won’t exceed this maximum, even during periods of very high demand.
Prices fluctuate; as you adjust the values, you can see the nightly rate for each date in the calendar, considering the season and other factors.
To access the advance pricing:
Open the desired listing in manage mode
From the left side menu navigate to Channel Manager ⏵ Calendar
Click on "Pricing Setting"
located above the calendar
Enter your values on the top raw
Note that you can choose static pricing instead by selecting the “Static Pricing” option.
Save your changes
Filters
Using filters allows you to apply a percentage rate, either to increase or decrease, to adjust prices for the following:
Month seasonality: Prices adjust monthly; positive values increase prices in high-demand months, while negative values reduce them in low-demand months.
Day of the week: Prices vary by day; weekends (e.g., Saturday +0.35) are priced higher, while slower days (e.g., Monday -0.13) have discounts.
Month Occupancy: Prices vary by day; weekends (e.g., Saturday +0.35) are priced higher, while slower days (e.g., Monday -0.13) have discounts.
Time until booking: Prices vary by day; weekends (e.g., Saturday +0.35) are priced higher, while slower days (e.g., Monday -0.13) have discounts.