Yield management or dynamic pricing model

This topic contains 3 replies, has 4 voices, and was last updated by   Mary Evans 2 weeks, 6 days ago.

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  • #839234

    UPR
    Participant

    Hi John,
    This may be useful for larger properties with multiple rooms/accommodations:

    It may be nice to have the option to configure a percentage by which the base rate goes up once the property books up.
    For example:
    Property is booked below 50% capacity – normal rate applies
    Property approaches 75% capacity booked – rate goes up by defined amount or percentage automatically.
    Property approaches 100% booked with only one or two rooms left – rate will be at it’s highest to maximise revenue for the property.
    If this can be automated, it is very powerful for owners who would use this feature, however I am not sure how much demand there is for it.

    Cheers,
    Sascha

    #848524

    J. Davis
    Keymaster

    Hi,

    Thank you or your suggestion and explanation. Currently this request can be partially done by variable pricing by amount of adults/children and stay period.

    best regards,
    J. Davis

    #850909

    Alfie White
    Participant

    Hi there, J. David.

    Just to follow on, are there any improvments planned for dynamic pricing similar to Air BNB?

    I.e. base price which moves between a min and max price based on the level of demand for a property from the current date.

    Such as if there’s unbooked stay in 2 weeks, the price adjusts to a min price from the base price to encourage booking. Similarly, if an accommodation is fully booked and has space in 5 months time the price is closer to the max?

    #860448

    Mary Evans
    Moderator

    Hello Alfie,

    Thank you for the question, however we are not sure we get it properly. Could you please clarify it more detailed? Thank you.

    Best Regards,
    M. Evans

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