How can I set Dynamic Pricing Rules?
Dynamic Pricing is the option where you can set the rules based on occupancy and accordingly the system will change the rates automatically. This reduces your time and effort from changing the rates on day to day basis.
Steps to create Dynamic Pricing Rules :
Log In to Stayflexi system – Click on Revenue Management – Click On Dynamic Pricing.
- Click on Add New dynamic pricing rule
- Enter the Dynamic pricing rule name.
- Define the rule based on occupancy percentage, under Rule Defination.
- You can set the rules based on increase/ decrease and on fixed INR value/Percentage.
- Select the room types on which you want to apply the rules from the drop down.
Note :- You can associate this pricing rule to be run on specific roomtypes.
Select one or more room types.
- Click on save
- You can create multiple rules like that but point to be noted no occupancy percentage should overlap in any of the rules defined.
Once the Rule is saved the next page will open showcasing your rules.
- If you want to run the rule immediately click the Run rule button at right had side corner. If you are not running it manually the rule will automatically run with the inventory changes in the system.
- You can enable and disable the rule using the option
- You can also edit the rule anytime by using the button option
- Once you click on the calendar button it will redirect you to the calendar page where you can see the status of the rule whether it’s running or not running on particular date.
- You can select the date range for which you want to see the status
- You can also permanently enable and disable the rule at given date range selected by clicking the option
Note :- If you disable the rule on any given date rule will not be applicable on the same.
Also if you want to see the actual base rate on which the dynamic rule has been applied you can go to Inventory/Pricing calendar and click on the base rate toggle button after selecting the date range.
Dynamic pricing rule feature is to minimize the day to day operations of updating the rates, the system calculates the occupancy percentage based on count of room’s category selected and changes the rules automatically.
Also point to be noted if you are editing/deleting any rule and creating new one you need to run the same manually to get the same applied/override the existing rule.
Also after creating the rules if the rates were changed from the Inventory/Pricing calendar manually then the new rates will become the base rate for the rule on those particular dates.