General Minimum Price Rules

• Minimum price rules follow PriceLabs’ customization hierarchy, meaning that certain overrides may allow prices to drop below a listing’s set lowest price.
  
• When setting a minimum price, you can choose from three options:
  
• Fixed – A set minimum price.
  
• Percentage (%) – A percentage of either your base price or default minimum price.
  

Before You Start

Listing Minimum Price

• We highly recommend setting a minimum price to prevent prices from dropping too low during low seasons or last-minute discounts.
  
• From the Pricing Dashboard, click Review Prices on your listing. This can be entered in the top left corner when reviewing prices.
  
  
• If you manage multiple listings, you can bulk update them on the Manage Listings page
  
  

Note on Fixed Price Overrides:

• If you enter a fixed price override (by selecting dates and setting a specific price at the listing level) or use a % change on base price at the group/account level outside the min-max range, PriceLabs will ignore the min-max range and apply your custom price instead.
  
• This is the one of the few case where the min-max range is ignored.
  
• Learn more about this here.

Minimum Price Customizations

Minimum Far-Out Price

• Ensures that bookings made far in advance do not fall below a certain price.
  
• Example: If your listing's default minimum price is $100, but you want bookings 90+ days out to have a minimum of $150, you can set a far-out minimum price to guarantee revenue.
  
• How to set up: 
  
• Edit Customizations → All Customizations → Far Out Prices → Set Minimum Far Out Prices
  
  

Minimum Weekend Price

• Ensures that weekend prices stay above a certain threshold, even during low season or last-minute bookings.
  
• How to set up: 
• Edit Customizations → All Customizations → Weekend Adjustments → Set Minimum Weekend Prices
  
  

Minimum Seasonal Price

• Allows setting different minimums for custom-defined seasons.
  
• You can specify minimum, base, and max prices for each season.
  
• Can be set as either a fixed amount or percentage-based adjustment.
  
• Any slot left empty will default to the regular minimum price.
  
  

Minimum Event Price

• Ensures that specific dates or event periods do not drop below a specified threshold.
  
• How to set up: 
• Click and drag over multiple dates or use the "Add" button to select a longer range.
  
• Enter your minimum price.
  
  
• Example: If your base price is $200, you can ensure that for Jan 13-16, the price won’t fall below base price - 20%.

Minimum Orphan Day Price

• Sets a specific minimum price for orphan days, independent of your default minimum price.
  
• How to set up: 
• Edit Customizations → All Customizations → Orphan Day Prices → Set Minimum Orphan Day Prices
  
  

Minimum Last-Minute Price

• Adjusts the minimum price for last-minute bookings, separate from regular minimum pricing.
  
• Example:
  
• Higher minimum price for advanced bookings.
  
• Lower minimum price for last-minute bookings to encourage occupancy.
  
• Access this setting via:
  
• Edit Customizations → All Customizations → Last Minute Prices → Set Minimum Last Minute Prices
  
  

Additional Notes

Calculation Rules

• If the calculated price falls below your set minimum, the system will apply your minimum price.
  
• If the calculated price is above your set minimum, it will be used as-is.
  
• If Minimum Price is set to "% Change on Minimum Price", this percentage change is applied after all Minimum Price customizations (except Date Overrides). This includes Far Out and Seasonal Minimum Prices.