Advanced Customizations
Safety Minimum Price
What is Safety Minimum Price (SMP)? The Safety Minimum Price (SMP) is a feature designed to ensure that your minimum nightly rate never drops below a certain threshold. This threshold is based on your historical booking data, specifically the Average ...
Rounding and Smoothing
Dynamic Pricing changes every day; that is the beauty of it. But sometimes, you might want to see some uniformity in your prices while still staying competitive with the market factors. I'f that is the case, then rounding and smoothing can be the ...
Extra Person Fee
In PriceLabs, one of the automation goals is to simplify and speed up the process of your pricing and revenue management tasks. One way to do this is by setting up rules like Extra Person Fee. What is an "Extra Person Fee"? In the hotel and rental ...
Far Out Prices
We gradually increase the prices far out to ensure that for large events (yet to be announced), you're not the first ones to get booked. Also, because the demand for next period is uncertain and since we are looking to maximize your nightly rates, we ...
Demand Factor Sensitivity
Our price recommendations depend on multiple factors, but they can be broadly categorized into three key areas: Broad Trends: Factors that remain relatively stable across different stay dates, such as base price and seasonality. Daily Demand Trends: ...
Length of Stay Pricing Adjustments
What is Length of Stay Pricing Adjustment? Length of Stay Pricing is a flexible pricing strategy that takes into consideration the number of nights the guest is planning to stay at the property. Based on the stay length, this customization sets a ...
Adjacent Factor Customization
Adjacent factor Customization can help encourage or discourage back-to-back bookings and lets you adjust the rate for the selected number of days before and after a booking. Let's take a look at how to make the best use of it for your use case: This ...
Pricing Offsets
The Pricing Offset customization sets a "Fixed" or "Percent" price change on the Recommended Price (after all other customizations have been applied). This was mainly developed for users who want comparable prices for mapped listings from different ...