Pricing management enhancement
The below will give an overview of pricing management enhancements:
Before you can view the enhancements you will need to have the following in place:
Access to Pricing Management section.
Understanding of your property's pricing strategy.
Appropriate minimum and maximum rate thresholds.
This update introduces the ability to set upper and lower price limits for manual overrides in pricing management section. It adds an extra layer of security for clients who perform manual overrides. By setting a maximum and minimum price limit, users are prevented from saving and publishing prices outside these thresholds.
Error Prevention: for clients using autopilot, price errors due to manual entry are non-existent. However, for users making manual adjustments, this feature helps prevent critical mistakes, such as entering an extra zero or setting an unintended price.
In price management section, if a price entered exceeds the set limits, the affected cell will highlight in red to signal the issue.
A pop-up notification will display, specifying the error, the established limits, and the room type affected.
The limits apply initially to the base room type. If override other room types is enabled, these limits will automatically extend to all other room types.
This is a simple yet effective safeguard to help revenue managers optimize pricing with added confidence.
Benefits of the enhancements
Below will outline the benefits of the enhancements:
Prevent costly errors: Avoid accidentally entering incorrect prices.
Maintain strategy integrity: Keep pricing within planned boundaries.
Optimize with confidence: Make manual adjustments knowing limits are in place.
Reduce risk: Minimize the chance of significant pricing mistakes.
Troubleshooting
Below will outline the most frequent troubleshooting issues:
Price won't save due to limit restrictions?
Review the error notification to understand which limit was exceeded, then either adjust your price or review whether your limits need updating.
Limits not applying to all room types?
Ensure Override Other Room Types is enabled if you want limits to apply across all room categories.
Need to override limits for special circumstances?
Contact your administrator to temporarily adjust limits for specific situations or market conditions.