Customizations which allow Below Minimum Prices

Customizations which allow Below Minimum Prices

As explained in this article, "the minimum rate is the lowest price a user sets for their listing" -- and as the name suggests, would be the 'minimum' or the least possible recommended rate from PriceLabs for the listing, no matter what customizations are applied. 

However, in this article, you'll learn that there are a some customizations that are considered exceptions to this. This simply means that the effect of the minimum price is cancelled or overridden.

Date-Specific Overrides

With PriceLabs, you can create Date-Specific Overrides for certain dates (or a range of dates); but only a Fixed DSO can go outside the lowest (or highest) price boundary since you're entering your own price - these pricing adjustments will no longer apply to a date with a fixed price override in place

When setting a fixed price override, you will see the following warning/message - just click on "Yes, Confirm" to proceed:

So for the example above, even with a minimum rate of 100, the fixed rate (80) still overrides it:

Custom Seasonal Profiles

This customization which is used to set seasonal minimum, base and maximum prices throughout the year will override your listing's standard minimum rates (as well as base and maximum) depending on when these Custom Seasonal profiles take place and its duration.

For example, if you set the following Custom Seasonal profile with a minimum price of 80 (June 1 - July 31), then that minimum price will be in effect for that whole duration of that 'season':

Note: If you leave the base and maximum prices blank, the listing's standard rates will be used.

Fixed Last Minute Prices

Only a Fixed Last Minute discount will go below the minimum rate, which means that it can override the effect of the Minimum threshold set for any listing (the % Flat & % Gradual Last Minute respects the minimum rate).

For instance, in the below example, setting a Fixed Last Minute rate of 80 will go below the Minimum rate of 100:

Pricing Offsets

The Pricing Offset customization allows you to set a Fixed or Percentage change (discount/premium) on top of your listing's recommended price so this customization can potentially lower your listing's final price below the defined minimum price.

For example, in this image below, the listing's minimum defined price is at 150 but the Pricing Offset is able to lower the listing's price to 120:

Monthly and Weekly Discounts

Monthly and Weekly discount is a pricing strategy that encourages guests to book for a longer duration, typically a full week or month. The idea behind offering a weekly/monthly discount is to attract guests who are looking for extended stays and to provide them with a cost-saving incentive

Let's say someone has set a 20% monthly discount, we will send the usual daily rates to your connected platform and if you get any bookings with a duration of more than or equal to 30 days, a 20% discount will apply to the total booking amount.
Average daily rates can be lower than the set minimum price in PriceLabs due to Monthly/Weekly discounts. This is because Weekly and Monthly discounts are applied on top of our recommended rates. 

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