Fixed prices
Setting a Fixed Price for a specific date and/or time range means manually defining a fixed, non-dynamic final price for a room type. This price will be published on the PMS/Channel Manager.
This setting cannot be overridden by the Smartpricing algorithm in any way.
Let's consider a simple example:
Let's set a fixed price 68€/night.
In this case, the Smartpricing algorithm suggests a price per night of €67 for that specific room type and date.
The price suggestion of the algorithm remains visible on the dashboard (the small number placed above the final price), but the actual final price published in the PMS/Channel Manager will be €68 per night.
Therefore, if the cell is highlighted in yellow, as shown in the example above, it means that the final price matches the user-set price.
If the cell is not highlighted but the little icon is still present, as shown in the example on the left, it indicates that a modifier is present but not active. Therefore, the final price will correspond to the price suggested by the algorithm.
Lastly, if the cell is not highlighted and the little icon is also absent, as shown in the example below, it indicates that no modifier is present. Therefore, the final price will correspond to the price chosen by the algorithm.
Minimum and maximum prices
Smartpricing's prices are dynamic and constantly change, either upward or downward. Setting minimum and maximum prices means defining the range within which the price can fluctuate.
Setting a minimum price for a specific room type, date, or time range ensures that no matter what price the algorithm suggests, it will never be possible to publish a price on the PMS/Channel Manager that is lower than the set minimum price.
Similarly, the maximum price represents the upper limit for the published price.
Which modifiers should I use?
Smartpricing's prices are tailor-made for your property and room type, calculated in real-time by a sophisticated intelligent algorithm.
We consider thousands of variables per second and automatically apply the most effective revenue strategies, all with the sole purpose of maximizing your revenue-to-occupancy ratio!
For this reason, we advise against setting fixed prices, as they could undermine the optimal revenue strategy.
If you need to familiarize yourself with our prices, try setting minimum and maximum prices and give more freedom to the algorithm!
Setting fixed prices, minimum/maximum prices, and "increase/decrease" for a specific date
From the Dashboard:
- STEP 1: Click on the cell for a specific date.
- A dialog window will open.
- STEP 2: Click on "Modifiers".
- STEP 3: Enter the "Fixed price" or "minimum and/or maximum" or "increase/decrease" in the respective fields.
- STEP 4: Confirm the operation by clicking the "Save" button.
OR:
From the Dashboard:
STEP 1: Click on the cell for a specific date.
A dialog window will open, similar to the one you see below:
STEP 3: Enter the "Fixed Price" or "Minimum and/or Maximum Price" or "Increase/Decrease" in the respective fields, and confirm the operation by clicking the "Save" button.
Setting fixed prices, minimum/maximum prices, and "increase/decrease" for time intervals and multiple room types
The platform also allows you to set minimum/maximum price parameters for extended time intervals and multiple room types, making the price management process easier and quicker.
From the Dashboard:
- STEP 1: Click on the "Customize Prices" icon in the top right corner.
- A dedicated tab will open.
- STEP 2: Define the desired time interval in the "Date Range" field.
- STEP 3: Select day icons (Mon-Tue-Wed-Thu-Fri-Sat-Sun).
- With this feature, you can include/exclude specific days of the week. For example, you can set a maximum price for the entire month of November, excluding weekends.
- STEP 4: Select the room type.
- STEP 5: Enter the "fixed price" or "minimum and/or maximum" or "increase/decrease" in the respective fields.
- STEP 6: Repeat the action for all relevant room types.
- STEP 7: Confirm the operation by clicking the "Save" button.
It is possible to set the same modifiers by highlighting the days to be changed.