Default Discounts and Premiums
One of the ways in which we make changes to your pricing is by adding premiums and discounts to certain dates depending on their position relative to holidays, events, and other bookings.
There are the four default price adjustments that are made after prices are adjusted for seasonality and neighborhood occupancy:
- A 20% discount on two or fewer orphan days.
- A gradual 20% premium over the next seven months beyond 30 days (about 0.1% per day), after 270 days - a flat 20% premium is applied.
- A gradual 30% last minute discount over the next 15 days from today (whichever day today is)
- Listing occupancy factor. The details of these discounts and premiums are in the default profile of the Occupancy-Based Adjustments customization
These settings only apply if they offer a lower discount or higher premium than the settings you've already put in place and if they don't make prices go below your set minimum or above your set maximum.
We've found that orphan days - days between bookings that don't meet your minimum booking length when given/displayed with a slight discount, will make them sell faster. (For example: There is an orphan day created, and if there is a discount applied on that particular day, there are chances it will sell out at a bit lower price to ensure selling out.)
For far out bookings- we apply a premium for the dates farther out, this is commonly practiced.
And lastly guests love to book last minute deals. You can set some attractive discounts for the last minute bookings to ensure bookings and contentment of the guests! So we've set up a couple of defaults to garner our users the most bookings for the most money!
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