Locked Prices
Setting a locked price for a specific date or time interval means manually defining, for a room type, the final non-dynamic price that will be published on the PMS / Channel Manager. This setting cannot be modified in any way by the Smartpricing algorithm.
Illustrative Example
In this example, a locked price of €108/night has been set. The Smartpricing algorithm, for this specific room type and date, suggests a price of €107/night. The algorithm's suggestion is always visible in the Calendar (indicated by the small gray number above the final price), but the price published on the PMS / Channel Manager will be €108/night.
If the cell shows a padlock in the top left corner, as in the example above, it means the final price corresponds to the price locked by the user.
If the cell features a solid gear, as shown in the following screenshot, it means a price modifier, such as minimum, maximum, or increase/decrease, is active and has altered the price suggested by Smartpricing.
If the cell shows a hollow gear, as in the example below, it means there is an inactive modifier; therefore, the final price will correspond to the price suggested by the algorithm.
Finally, if the cell shows no symbols, as in the following example, it means there are no modifiers present, and therefore the final price will correspond to the one chosen by the algorithm.
Minimum and Maximum Prices
Smartpricing's rates are dynamic and vary continuously, both increasing and decreasing. Setting minimum and maximum prices allows you to define the range within which the price can fluctuate.
Defining a minimum price for a specific room type and date or time interval ensures that, regardless of the price suggested by the algorithm, a price lower than the set minimum will never be published on the PMS / Channel Manager.
Similarly, the maximum price represents the upper limit of the price that can be published.
Which Modifiers Should You Use?
Smartpricing's rates are custom-calculated for your property and room type, in real-time, using a smart and sophisticated algorithm. Thousands of variables are considered per second, and the most effective revenue strategies are automatically applied, with the primary goal of maximizing the ratio between revenue and occupancy.
For this reason, we advise against setting locked prices, as they could compromise the optimal revenue strategy. If you wish to become familiar with our prices, we recommend setting minimum and maximum prices, allowing the algorithm greater freedom.
Setting Locked, Minimum / Maximum, and Increase / Decrease Prices for a Specific Date
From the Calendar:
- Expand the room type you wish to modify using the arrow on the name row.
- The modification options will appear below each price cell.
- Click on Lock to enter a locked price, or enter a maximum price
, a minimum price
, an increase or decrease (-) in euros
or as a percentage
- After entering the values, click anywhere on the page or press Enter to confirm the changes; the price will update and be immediately sent to the OTAs.
Alternatively, also from the Calendar, you can proceed as follows:
- Click on the price cell for a specific date. A dialog window will open on the right, as shown below.
- In the Price Rules section, you can enter the same modifiers described in the previous steps.
- Once the data is entered, press Apply at the bottom right to make the changes effective.
Setting Locked, Minimum / Maximum, and Increase / Decrease Prices for Time Intervals and Multiple Room Types
The platform also allows you to set minimum and maximum price parameters for extended time intervals and for multiple room types, in order to facilitate and speed up price management.
From the Calendar:
- Click on the Price Rules icon in the top right corner, a dedicated tab will open.
- Define the Dates for which you want to apply the change. After selection, you can also specify the days of the week (highlighted in light blue) that will be affected by the change, by clicking them to select or deselect.
- Select all the Rooms for which you intend to apply the same change.
- Enter the locked, minimum/maximum, or increase/decrease price in the corresponding fields.
- Repeat the previous steps for other Rooms using the Add more rooms & rules option.
- Confirm all operations using the Apply button at the bottom right.
Tip: To select multiple dates, you can use the selection tool shown below or press Ctrl + click and drag the mouse to highlight multiple cells in the Calendar, then click on Price rules for current selection.