RMSWeb now features Dynamic Pricing.
The Dynamic Pricing feature allows you to automatically govern what Tariff is to be charged not only using the Tariff Periods but also on the Time out from the guests arrival and the Occupancy levels of your property on the dates the guest is in-house for.
Dynamic Pricing is a simple add on to your existing Tariff Tables and will also pass through to your Tariff Grid.
From any screen within RMSWeb
Click once on Setup on the Navigation bar
Choose Per Night Tariffs (Lookup) from the list
Choose Tariff Tables from the sub list
A list of your existing Tables will appear on the screen.
Choose the Tariff Table that you wish to add Dynamic Pricing to
Click once on Edit
The Edit Tariff Table screen will appear; On the right hand side of the Edit Tariff Table screen you will find the Dynamic Pricing column.
Each Tariff Table in your system is set by default with a Dynamic Pricing occupancy of (0% to 100%), this tells the RMSWeb system that this Tariff Table is to be used in all instances by default. This entry will remain regardless of you adding further Occupancy and Time prices, it will work as the default Tariff if a rule has not been set.
Time structures are designed to allow further increases or decreases the Tariff within an occupancy level. With this in mind you are able to simply add Time levels on the default occupancy and go no further.
This screen shot shows you what your Tariff Table will look like once we have set the Dynamic Pricing structure.
Using the above screen as an example the rules for Tariffs when making a reservation would be;
- If the Occupancy levels for the guests stay was between 0% and 39% and the date of arrival for the guest was greater than 2 days out the tariff would be $150 p/n.
- If the Occupancy levels for the guests stay was between 0% and 39% and the date of arrival for the guest was 1 to 2 days out, the tariff would be 10% higher than the default Tariff.
- If the Occupancy levels for the guests stay was between 40% and 80%, the tariff would be 15% higher than the default Tariff.
- If the Occupancy levels for the guests stay was between 81% and 100%, the tariff would be 25% higher than the default Tariff.
Lets begin your Dynamic Pricing setup!
Adding Occupancy Ranges:
To open the below screen click once on the Add Occ button in the bottom left corner.
The below screen will appear;
Enter the occupancy levels
Remember that your default level of 0% to 100% is already set, therefore your first occupancy level should be for the range that would increase the default Tariff Table.
You now must choose how you wish to increase or decrease the default Tariff Table, their are three (3) options, we will go through all three in the following screen shots.
Rate Adjustment:
Select the Rate Adjustment option
Choose the + or - symbol
This choice indicates whether you wish to add too or take away from the default Tariff Table.
Enter either the percentage (%) adjustment or dollar ($) adjustment you wish to make
You are not able to place a figure in both fields, this adjustment will effect each nights tariff on the default Tariff Table.
Select if you wish this adjustment to effect the Packages and/or the Additional's
Include Packages in calculation - if selected the adjustment will also apply to any package components attached to the default Tariff Table.
Include Additional's in calculation - if selected the adjustment will also apply to any additional's charges set under the Additional's tab of the Tariff Table.
Create New Rate based on existing - New Rate Name:
Select the Create New Rate based on existing option.
From the drop down menu choose the Tariff Table you wish to copy, then enter the New Name you wish to give this copy in the field beneath.
This option allows you to copy an existing Tariff Table you have set in your system then alter it where required, if you choose to use this option you must provide a new name for the copy.
Once you Save/Exit from the below screen you will be presented with the newly copied Tariff Table which you can then adjust accordingly.
Use Existing Rate:
Choose the Use Existing Rate option.
Using the drop down menu, choose the Tariff Table you wish to use.
This option would be used if you wish to simply use another of your existing Tariff Tables without making any changes to it.
Once you have made your selection and completed the option accordingly, choose Save/Exit to close this screen or Save/Next to add another occupancy level.
Adding Time Ranges:
Now that your occupancy ranges are set you can now add your time ranges.
Time ranges can be added to one or all of the occupancy ranges.
From the Edit Tariff Table screen;
Highlight the occupancy level you wish to start with by clicking on the description once in the Dynamic Pricing column.
Click once on the Add Time button
The below screen will appear;
With Time ranges you have two (2) options on when they will apply;
1. Between x and x Days/Hours From Arrival
This option states from today's date/time how many Days/Hours out from the arrival date of the reservation. You may wish to use this option if the guest is calling in the morning to reserve an Area for that night, and as such since you occupancy is x you wish to charge more or less.
2. Date made From x to x
This option would be used if you are advertising a special. For Example: You may wish to give a 10% discount to any person who calls to book within the next 24 hours or Month etc.
You now must choose how you wish to increase or decrease the default Tariff Table, the three (3) options available are the same as when setting the occupancy levels, for full details on each option please see above.
Choose Save/Exit to close out of this screen or Save/Next if you wish to add further ranges.
Your RMSWeb system is now ready to use the Dynamic Pricing.