The feature Surge Protection addresses sudden high-demand scenarios.
In the fast-paced world of hospitality, unexpected high-demand scenarios can present both challenges and opportunities for hoteliers. The feature Surge Protection provides a robust solution. Just as the announcement of a surprise concert can lead to a sudden influx of guests seeking accommodation, it's crucial to have systems to manage these fluctuations effectively. Surge Protection empowers property managers to capitalize on high-demand periods and maximize revenue potential.
Understanding Surge Protection
Surge Protection is a feature designed to address instances where you experience an unusually high number of bookings within a short timeframe. Inspired by real scenarios, such as the unexpected popularity of events like Taylor Swift's concert in 2023, Surge Protection is a safety net for your pricing strategy. It not only ensures that you capture opportunities that competitors might miss but also enhances the performance of our algorithms.
When your property experiences a surge in reservations within a condensed timeframe, RoomPriceGenie will promptly email you and visualize indicators within your account interface for the high-demand dates. This allows time and flexibility to review the situation and adjust the pricing accordingly.
On the higher plans ProLite and Professional, Surge Protection proactively mitigates the impact of sudden increases in booking activity meaning it automatically triggers price adjustments to your pricing strategy for the affected dates. By enabling the auto-pricing functionality, we apply temporary surge protection prices. This strategic intervention allows you to optimize room prices in response to heightened demand, ensuring that you capture the full value of your inventory.
Example:
For instance, if you receive 10 bookings for a single date within 24 hours and with more than 50 days to go, RoomPriceGenie's Surge Protection will be alerted.
Key Features and Functionality
When a surge event is triggered, you will receive an email notification detailing the affected days and graphical representations in your calendar.
Example of an E-Mail:
This ensures that surge events are noticeable and impossible to ignore. For any detected Surge Events, you can easily access your updated prices by clicking on the respective date in your calendar.
We want to make sure you have the information so we can take prompt and informed action.
How to set it up
Configuring Surge Protection is streamlined and intuitive, offering customizable settings tailored to your specific requirements. Depending on your subscription plan, Surge Protection provides different functionalities and fine-tuning possibilities.
You can easily set up Surge Protection through a dedicated tab within the "Pricing Strategy" menu. Customize the feature according to your preferences:
- Define who receives the email notification
- Set the threshold for bookings triggering a surge
- Specify the time frame to identify surges
- Choose the duration for which the alert should apply (only on Professional)
- Enable Auto-Pricing with a pre-defined Fix price (only on Professional)
Additionally, you can conveniently review a log of all past surge events on the same page.
Note:
While some level of Surge Protection will be available to higher RoomPriceGenie plans, the full functionality can be accessed within the Pro-Lite and Professional plans. If you can't access the feature, please don't hesitate to contact us at support@roompricegenie.com.