Weekly and Monthly discount

Weekly and Monthly Discounts

Discounts are a key part of any rental property's price strategy, especially for those looking to extend their visitors' stays. A "Weekly and Monthly Discount"  is a frequent name for this arrangement.

As a revenue management tool, you can now consolidate your discounting into one platform since the working idea here is that, when set in PriceLabs,  we transmit these discounts to the PMS when generating a booking quote for stays of this duration (if the weekly and monthly duration are triggered when a guest is booking)


How do these discounts work?

👉🏼 Let's say someone has set a 20% monthly discount, we will send the usual daily rates to the Property Management System, and only if there is a reservation for more than the specified duration in PMS, a 20% discount will apply to the total amount of the daily rates. This can lead to an average daily rate after the discount is less than their minimum price in PriceLabs.
Reason: The discounts are applied on top of daily rates, and the net price can be lower than minimum

It totally depends on PMS how they use our weekly monthly discounts /discounted rates. For Tokeet as example, we push weekly & month discounted prices and tokeet prorate this price for a booking greater than 7 or 30 days.

Weekly/Monthly Discount - feature availability

While we want this to be supported by all our PMS and OTA, currently, we only have them for the below list;

PMS/OTA
Weekly Discount
Monthly Discount
365Villas
Yes - set in PriceLabs otherwise PriceLabs will overwrites
Yes - set in PriceLabs otherwise PriceLabs will overwrite
Bookerville
Yes
Yes
BookingSync
Yes
Yes
Guesty
Yes
Yes
Hosthub (syncbnb)
Yes
Yes
Hostify
Yes
Yes
Lodgify
Yes - set in PriceLabs otherwise PriceLabs will overwrites
Yes - for monthly - we do this for 30-night bookings
MyVR
Yes
Yes
Rentals United
Yes - set in PriceLabs otherwise PriceLabs will overwrites
Yes - set in PriceLabs otherwise PriceLabs will overwrite
Tokeet
Yes - set in PriceLabs otherwise PriceLabs will overwrites
Yes - set in PriceLabs otherwise PriceLabs will overwrite
VRBO
Yes
Yes

How to set them in PriceLabs?

  1. On the Pricing Dashboard, click the "Review Prices" of the listing you want to set up.
  2. Next is the "Edit" of the Customization box.
  3. On the floating page, you'd see the "Weekly Discount" and "Monthly Discount." Toggle ON which one you need and set the discount value.
  4. Click "Save Changes" when you're finished, and then click "Sync now" if you want to immediately apply the changes. If you do not click "Sync Now," the changes to your syncing listing will be loaded during the nightly system update.


Notes;
  1. There is no default value set.
  2. Discount % value can be a range of 0 to 75 only. 
  3. No need to indicate the negative sign " - " because the function will specifically use the number as a discount.
  4. The discounts are applied on top of daily rates, and the net price can be lower than the minimum.

FAQ;
1) What is the difference between "Yes" & "Yes - set in PriceLabs otherwise PriceLabs will overwrite"?
Answer: This means that for PMS with a note of "set in PriceLabs otherwise, PriceLabs will overwrite," it is highly recommended that you set them up in the PriceLabs platform to reduce or minimize error on this discounting.

2) "What if my PMS or OTA is not listed above?"
Answer: Please set it up on your PMS or your listing channel.

The details on the above table may change at any time, as we will be updating for more PMSs in the coming months.
If you don't see your PMS on the list o would like to confirm the information - please reach out to us at support@pricelabs.co

    • Related Articles

    • 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 ...

    • Setting Cleaning Fees, Service Fees and Booking Fees

      Are you wondering how PriceLabs manages all of the fees associated with listing your property on multiple channels? The short answer is: We don't! Whether you use a channel or property management system, or send prices directly to Airbnb, any fees or ...

    • Pricing Customizations

      At PriceLabs we strive to recommend the best data-driven prices for your vacation rental and Airbnb listings to get bookings and drive revenue. While that works for most hosts and vacation rental managers, we recognize that you may want to customize ...

    • PriceLabs Dynamic Pricing: Billing, Subscription, and Invoices

      How does PriceLabs calculate your invoices? PriceLabs is full of features and bells and whistles, but the one thing we've kept simple is our pricing plans; there are no commissions, and in every billing cycle you only get charged for the listings you ...

    • Different Prices on Your Calendar - Tooltip Explained

      Whenever you hover over any date on your calendar (single listing or multi-calendar), you will see a tooltip. This tooltip will help you understand how every rate in your calendar is calculated along with the customizations applying to that date! ...