Advanced minimum price settings in PriceLabs

Advanced Minimum Price Settings

Important Note: For any date minimum price rules will be applied according to our general customization hierarchy. This means that it is possible to use date-level overrides, for example, to decrease the price below a listing's set lowest price.

Whenever a drop-down option is available, you will have 3 ways for applying your Minimum Price:
  1. Fixed: This will set a fixed minimum price.
  2. %: You can select between % on your base price or default minimum price and it will be set accordingly.

Listing lowest price

We highly recommend that everyone enter this to ensure prices never go below the min-price even during low season, last minute, etc. This can be specified in the top left corner when reviewing prices.

If you have many listings, you can also bulk update on the Manage Listings page.

If you enter a fixed price override (select some dates, and enter a fixed price at listing level) or "% change on base price" at group/account level that's outside the min-max price range, we will use the price you put in and ignore the min-max range. This is the only time the range is ignored since you're entering your own price. You can also read more here.

Minimum Far-out Price 

This customization can be used set a different (higher) minimum price for bookings far out. Suppose you usually want the min-price to be 100 but are willing to go down to 80 only for last-minute bookings (say last week). You can then set 80 as the listing minimum price, set a far out min-price of 100 beyond 7 days (and a separate one for weekends!).

Minimum Weekend Price 

This customization can be used to make sure that the prices for weekends don't fall below a certain threshold (even though it might be last-minute in low season).

Minimum Seasonal Price

You can also set different minimums for any season you've defined by defining a Custom Seasonal Profile. Using this customization you can set different minimums (or base or max prices) for seasons you've defined for your listings. This can either be Percentage based or Fixed. Any minimum slot left empty will default to the regular minimum set for your listing. 

Minimum Event Price

This date-specific override can be used to ensure that the price for certain dates and events doesn't go below a threshold you specify. Simply click and drag your mouse over multiple dates or use the "Add" button to select a longer range (either for a listing, group, or account) and enter the min-price. The example below ensures that the price for this listing won't fall below (base price - 20%) for Jan 13-16.

Note: If our calculated price falls below your threshold, we will use the min-price. If it is above the threshold, we use our calculated price. If Minimum Price is set "% Change on Minimum Price", this "% Change" will be applied after all Minimum Price customizations, other than Date Overrides, have been applied - This includes Far Out and Seasonal Minimum Prices.

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