This article helps you to set up different minimum and maximum boundaries for specific dates or seasons.
In the Room Setup, you have the option to set your default minimum and maximum prices. These prices act as boundaries for the entire year, regardless of any seasonal fluctuations. During periods of high demand, the algorithm will suggest prices closer to your maximum price, while during periods of low demand, the suggestions will lean towards the minimum prices. This gives you full control over your pricing strategy.
However, there may be instances where you would like to manually adjust prices for specific dates, special events, or seasons. With RoomPriceGenie, you have the flexibility to set your own minimum and maximum prices within a range. The algorithm will not exceed these limits, ensuring that you feel comfortable with the prices suggested.
For example, let's say there is a trade show happening in your city and you want to increase prices during that time. You can set individual maximum prices for those specific days. Similarly, if your business experiences different booking behaviour during high and low seasons, you can set a higher minimum price for the high season.
It's important to note that these manual adjustments will override the default values set in the Room Setup.
Advanced and Professional users can easily define individual boundaries through the Calendar view and the Bulk-Edit feature.
Note: If you're unable to locate the Minimum and Maximum price options for your derived categories, it's likely that this feature hasn't been activated for your account yet. Contact us to get this custom feature activated for your account.
By default, the settings only allow you to set the Minimum and Maximum Prices for your Reference Room category. The other room categories will be derived according to your derivation rules. Example: If the Minimum Price of your Reference Room Type is $100, and your derived single room is 20% cheaper, then the Minimum will be $80.
To edit individual minimum and maximum prices, you have three options:
Option 1: Set boundaries for a specific day
To make changes to a specific day, simply go to the Calendar view and select the desired date. In the price pop-up that appears, you have the flexibility to set a different Minimum and/or Maximum price from your default values. This allows you to customize your pricing for that particular day according to your preferences.
Option 2: Apply custom prices for several consecutive days
Use the Bulk-Edit feature to select a time frame and make changes to the minimum and/or maximum prices for multiple days.
Option 3: Apply prices for several non-consecutive days
With the Bulk-Edit feature, you can select specific days of the week for a certain period of time and adjust the minimum and/or maximum prices accordingly.
For example, if you want to adjust your minimum and maximum prices for every Saturday during the summer without affecting other days, RoomPriceGenie has you covered. In the pop-up window that appears, you can easily set different minimum and/or maximum prices to meet your needs.
It's also worth mentioning that RoomPriceGenie allows you to adjust your property's minimum and maximum prices up to 18 months in advance.
