Date-specific Overrides to Adjust Prices for Events and Seasons!
Updated on March 12, 2020
We've had the fixed date-specific overrides in place ever since we started - it allowed you to select a range of dates and set a manual override to our price recommendations. From that point on, as long as you have a date-specific override in place, we would only use the price you set.
This feature worked very well in many cases - most importantly when you had personal preferences that we wouldn't know of (you may not want to host anyone over the New Year's Eve unless there's a 3x premium that'll pay for your next year's gym membership, for example!), or for holidays when you think we aren't increasing our prices enough (or increasing too much!). While this flexibility was great, it was limited to using a fixed price that wouldn't change over time (no last-minute discounting, for example) or wouldn't work for longer periods since all the days would have the same fixed price.
We have added a new feature to change that, as you can see in the screenshot below!
You can now enter a percentage increase (up to 300%) or decrease (up to -40%) instead of a fixed value. In addition to allowing you to give your preferred prices for an event of holiday, the new feature also works great if you want to change prices for an entire season - for example, you may want to increase all June prices by 20% while still keeping them dynamic! In addition, you can also choose a date specific min-stay override, which will be used instead of any customizations you might have put in (other than the orphan rule).
The new rule you setup will be shown on your calendar just like before. Once you set a rule up, you will have to hit save/refresh to see the effects of the new rule come into action.
Group and Account level date-specific overrides : Many of our users have hundreds of listings, and making date specific min-stay and pricing adjustments for holidays or events to each listing one by one might be too time consuming. In such cases, we highly recommend using the account/pms level date-specific overrides (or group-level date specific overrides if you have different sets of properties needing different changes!) - you can find this on the customization page (Menu bar on top > Dynamic Pricing > Customizations). Click on the link that says "Date specific custom rules". The screenshot below shows account override option on top, and group at bottom.
This opens up a calendar where you can click and drag over multiple dates to date specific settings:
- Date-specific pricing factors to adjust prices for events and seasons
- Fixed (available only at listing level): you choose your own price for those dates. This price can go outside the lowest/highest price boundary since you're entering your own price.
- % of base price (available only at group/account level as a replacement for "Fixed" option above): Entering "-10" means you want a price that's 10% lower than the base price of a listing for those dates. This price can go outside the lowest/highest price boundary since you're effectively entering your own price. This price will now be static (no last minute adjustment, etc).
- % of recommended price: Entering "-10" means you want a price that's 10% lower than our recommended price for a listing for those dates. This price will not go outside the lowest/highest price boundary. This price will continue to be dynamic since our recommendations will incorporate new information, and apply last minute discounts and other adjustments.
- Date-specific min-stay value for events and seasons. Note that these settings can be overridden in case there is an orphan day gap and you have setup a rule for that. As an example, if you setup min-stay of 4 for a season, but a gap of 2 unbooked days gets created due to other bookings, this gap can be filled with a 2 day minimum if you have set it up that way.
- Date-specific minimum price Just like price adjustments, you can also specify a minimum price for certain dates using this option.
Once entered, the calendar will look like the image below.
Now when you review prices for a listing, you can hover over these dates on the calendar, and the popup will show that you have an account level custom pricing factor being applied (you might have to click "Save/Refresh" button to recalculate prices using the newly set rules).
As always, if a date has both account level and listing level date-specific overrides, then the listing level rules are used.
The modal will show all the listing, group and account level overrides that are in place for this listing.
You can do the same on the customizations page to see Account and Group level overrides without having to scroll through the calendar.
- If you want to make adjustments spanning multiple months, then you currently have to do this one month at a time
- If you already have an override, and want to change it only for some of the dates within, you currently have to delete the existing one and add the new overrides you need one by one.
You can now overcome both of these by using the "Add" button (available at listing, group and account levels) as seen below.
- Listing level
- Account/Group level
This allows you to choose your own date ranges from a drop-down that are not restricted.
If there is an existing override in the dates you choose, we'll show you what existing adjustments you might be overwriting by using this method.
We're confident that this new feature will make using PriceLabs an even smoother experience for you. As always, feel free to drop in your suggestions at email@example.com - we have many improvements in the pipeline, and would be happy to hear your thoughts and incorporate them!