Weekly and Monthly discount

Weekly and Monthly Discounts

What is Weekly and Monthly Discount?

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

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)
The Weekly and Monthly Discounts customizations are currently only available with select integrations. You can check our list of supported integrations with this feature below.

How do these discounts work?

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. 

It totally depends on the PMS or Channel manager on how they use our weekly monthly discounts/discounted rates. For Tokeet, as an 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 overwrite
Yes - set in PriceLabs otherwise PriceLabs will overwrite
Bookerville
Yes
Yes
BookingSync
Yes
Yes
Guesty *
Yes
Yes
Hostex
Yes
Yes
Hosthub (syncbnb)
Yes
Yes
Hostify
Yes
Yes
MyVR
Yes
Yes
Rentals United
Yes - set in PriceLabs otherwise PriceLabs will overwrite
Yes - set in PriceLabs otherwise PriceLabs will overwrite
Tokeet
Yes - set in PriceLabs otherwise PriceLabs will overwrite
Yes - set in PriceLabs otherwise PriceLabs will overwrite
VRBO
Yes
Yes
* Guesty and Guesty for Hosts are different integrations. In this case, Guesty refers to Guesty for Pros.

How to set up Weekly/Monthly discounts in PriceLabs?

  1. On the Pricing Dashboard, click "Review Prices" on the listing you want to set up
  2. Click "Edit" on the Customizations panel
  3. Click All Customizations.
  4. Enable the toggle for Weekly Discounts and/or Monthly Discounts, then set your preferred value
  5. Click "Save Changes" when you're finished, and then click "Sync now" if you want to immediately apply the changes. Otherwise, the changes to your listing will be pushed during the schedule automatic sync.

  1. There are no default value set for these discounts.
  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.

Setting up Weekly/Monthly Discount on PMS that allows LOS Pricing (Length of Stay Pricing Adjustments)

There are PMSs that support LOS Pricing and in order to set Weekly and Monthly discount, you have to configure it using Length of Stay Pricing Adjustments. For further details on this, check our guide here.

FAQs:
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.

Video Tutorial



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