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 "Percent" price change on the final Recommended Price (after all other customizations have been applied).
Length of Stay Pricing availability
This feature is only available to listings syncing with the following Property Management Systems (PMSs):
We will be adding more PMSs in the coming months. If you don't see your PMS on the list, please reach out to us
Common scenarios where it's helpful
- You want to accept shorter bookings at higher rates - e.g. 1 night stays at 30% extra, 2-night stays at 10% more, and so on.
- You want to apply a different discount for longer stays of different lengths - e.g., 7+ night stays at a 10% discount, 14+ night stays at a 15% discount
Note: In many PMSs, weekly and monthly discounts can be used to achieve this even when LOS pricing isn't available
Weekly and Monthly discounts can be set in PriceLabs. It's a Request-only feature - you can write to us at support@pricelabs.co, and we shall grant you from the backend.
For LOS rules - you can set them within Track using their derived rate rule. Please note that these would apply on top of the rates sent by PriceLabs.
How to add Length of Stay Pricing Adjustments
To apply Length of Stay Pricing Adjustments, just follow the steps below:
- From the Review Prices, click "Edit Customizations" button
- Go to the All Customizations tab and click Length of Stay Pricing.
- Enable the toggle for Length of Stay Pricing Adjustments
- Click "Edit Adjustments"
- Set your preferred adjustments
Important Notes: - All the fields for Premium/Discount are required to be entered (same goes if you enable the Min and/or Max Price)
- The stay length value should be greater than the previous stay length and it uses the "greater than or equal to" logic (ex. for ≥ 1 stay length, if the next stay length is ≥ 5, then the adjustment for ≥ 1 covers 1 to 4 nights)
- The value of the adjustment (Premium/Discount, Min, and Max Price) for a longer stay length should be lower than the previous stay length (ex. you can't have 2-night stays at 20% premium, and 3-night stays at 25% premium)
- Once done, click "Update Changes"
Reminders
For SuperControl
- LOS premiums/discounts can only be set in PriceLabs for up to 7 nights. Once set, we will push these prices to SuperControl as Short Break Pricing. It will automatically disable the daily pricing and also activate Short Break Pricing for the listing in SuperControl.
- Any LOS rules set for >7 nights will be ignored.
- For any >7 nights bookings, SuperControl will calculate the prices for the extra nights depending on the settings. It can be pro-rated OR the full LOS price for the extra nights, depending on the property settings. There is a checkbox in the main property settings for this option.
- If LOS is disabled, the next sync will push daily prices for the listing and it will automatically switch the listing back to daily prices. So if you want to immediately turn daily pricing ON for a listing, then after disabling LOS in PriceLabs, click on "Sync Now" to turn daily pricing ON or manually do so directly in SuperControl.
Additional Notes:
- If you do not see this option in your account, it means this feature is not available for your platform/PMS
- We also support mid-term pricing (length of stay>30 days) for BookingSync, which can be used once the Length of Stay feature is activated for your account.
- If you have many listings then making Length of Stay Pricing adjustments to each listing one by one might be pretty time-consuming. In such cases, we highly recommend using the Account/PMS-level or Group-level adjustments if you have different sets of properties needing different changes. You can find this on the Customization page.
- This setting is applied on top of all your price customizations, which includes Fixed Price Overrides, Orphan Discounts, etc. This means that the Recommend Price of a listing that uses this customization may go above your Maximum Price or below your Minimum Price.
Video Tutorial
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