Advanced Minimum Price Settings

Important Note: For any date minimum price rules will be applied according to our general customization hierarchy. This means that it is possible to use date-level overrides, for example, to decrease the price below a listing's set lowest price.

Whenever a drop-down option is available, you will have 3 ways for applying your Minimum Price:

1. Fixed: This will set a fixed minimum price.
2. %: You can select between % on your base price or default minimum price and it will be set accordingly.

Listing lowest price

We highly recommend that everyone enter this to ensure prices never go below the min-price even during low season, last minute, etc. This can be specified in the top left corner when reviewing prices.

If you have many listings, you can also bulk update on the Manage Listings page.

If you enter a fixed price override (select some dates, and enter a fixed price at listing level) or "% change on base price" at group/account level that's outside the min-max price range, we will use the price you put in and ignore the min-max range. This is the only time the range is ignored since you're entering your own price. You can also read more here.

Minimum Far Out Prices 

This customization can be used to set a different (higher) minimum price for bookings far out. Suppose your listing's default minimum price is $100, but you want to ensure bookings made far in advance (e.g., 90+ days) don’t fall below your expected revenue (e.g., $150 per night), you can set a far-out minimum of $150 to guarantee these bookings meet your target.. You can then set 80 as the listing minimum price, set a far-out min-price of 100 beyond 7 days (and a separate one for weekends!). This can be accessed via Edit Customizations > All Customizations > Far Out Prices > Set Minimum Far Out Prices.

Minimum Weekend Price 

This customization can be used to make sure that the prices for weekends don't fall below a certain threshold (even though it might be last-minute in low season). This can be accessed via Edit Customizations > All Customizations > Weekend Adjustments > Set Minimum Weekend Prices.

Minimum Seasonal Price

You can also set different minimums for any season you've defined by defining a Custom Seasonal Profile. Using this customization you can set different minimums (or base or max prices) for seasons you've defined for your listings. This can either be Percentage based or Fixed. Any minimum slot left empty will default to the regular minimum set for your listing. 

Minimum Event Price

This date-specific override can be used to ensure that the price for certain dates and events doesn't go below a threshold you specify. Simply click and drag your mouse over multiple dates or use the "Add" button to select a longer range (either for a listing, group, or account) and enter the min-price. The example below ensures that the price for this listing won't fall below (base price - 20%) for Jan 13-16.

Minimum Orphan Day Price

This minimum price limit that you can set specifically for Orphan Day. This customization allows you to increase or decrease the minimum price for Orphan Days regardless of your default minimum price. This can be accessed via Edit Customizations > All Customizations > Orphan Day Prices > Set Minimum Orphan Day Prices.

Minimum Last Minute Price

This customization allows you to adjust the minimum price for Last Minute Days regardless of your default minimum price. With this, you can set a lower minimum price for last minute bookings as compared to a higher minimum price for advanced bookings. This can be accessed via Edit Customizations > All Customizations > Last Minute Prices > Set Minimum Last Minute Prices.

Note: 

1. Minimum Orphan Day Price and Minimum Last Minute Price are by-request features and only available in the updated customization UI. If you do not already see this on your account, please reach out to us at support@pricelabs.co
2. If our calculated price falls below your threshold, we will use the min-price. If it is above the threshold, we use our calculated price. If Minimum Price is set "% Change on Minimum Price", this "% Change" will be applied after all Minimum Price customizations, other than Date Overrides, have been applied - This includes Far Out and Seasonal Minimum Prices.
   

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