PIE Release Notes - June 2019

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We’re happy to share with you the latest updates to our Pricing Intelligence Engine (PIE). To ensure you get the most out of PIE, we’ve implemented new features and functionalities that allow you to do even more with our Pricing Intelligence tool and at the same time simplify user experience.

Below you’ll find the main enhancements that are included in this update:

Rate Manager: price differentials

Manual price updates just got easier! How? You can now pre-set price differences between your accommodation types. Select a base room type, set the differential, and Cloudbeds automatically calculates the prices for the other room types. Update your prices across room types with a click.

Please note: this affects manual rate changes (by the user) only and does not affect automated rate changes/rules. Also, price limits do not affect these settings.

HOW IT WORKS:

1. Go to Rate Manager and next to the first room type click on the link "Set Price Differentials."

Clicking on this link opens a modal window where the user is offered to set Price Differentials for their accommodations.

2. Select Base Accommodation (the differentials will be derived from the rate you enter for this accommodation) by checking the box in the column "Base."

  • At least one Base Accommodation needs to be selected.
  • Multiple Base Accommodations are allowed, as shown in the example below.

3. Then differentials are added for the rest of the Accommodation Types to derive their rates from the Base.

Options available for differentials:

  • + (increase)
  • - (decrease)
  • % (calculates percentage of the base price)
  • $ (adds/subtracts an amount from the base price)

4. Save the settings and go back to Rate Manager.

Enter the price for any of the previously selected Base Accommodation ("Test 1” or "Test 3" in the example below) and click 'Enter' or anywhere on the calendar.

  • Base Room Type is reflected in the Rate Manager with a green star.
  • If more than 1 Base Accommodation were selected in the Price Differential modal window - user can enter the rate in the Rate Manager for any of the Base Accommodations: all other Base Accommodations will be filled in with the price equal to the first one that the user entered.

5. The prices are now updated for that date for all Accommodation Types according to pre-set differentials:

Learn more about Rate Manager in our Knowledge Base: PIE - Rate Manager overview

Rate Shopper: indication of compset rate changes and direction

You can now quickly identify how competitors’ rates have increased or decreased since yesterday (*currently, our rate shopping data updates every 24 hours):

  • Red arrow down indicates that the competitor’s price decreased for that date by that amount since yesterday.
  • Green arrow up indicates that the rate increased by that amount.

This helps PIE users understand the direction of the prices in the market and spot important trends that reflect the future market demand.

Learn more about Rate Shopper in our Knowledge Base: PIE - Rate Shopper Overview

Occupancy Rules: reverting rates when occupancy goes back to unsatisfying condition

Previously, when an Occupancy rule was created and a price was changed by the system after occupancy satisfied the conditions in the rule, then if the occupancy dropped back to “unsatisfying” condition - the price wasn’t reverting back to the original amount.

This release improves this functionality:

  • If the rule is set to be applied automatically > it will be reverted automatically 
  • If the rule is set to be applied manually > the system will suggest to revert it back manually 

Reverting rules always happens in the opposite order from how they were applied, according to the current occupancy state.

Learn more about the Occupancy Rules and how to create them in our Knowledge Base: PIE - Rules and Alerts - Creating/Editing an Occupancy Based Rule / Alert

Occupancy Rules: apply rules to dates that already meet the condition

Previously, if a new Occupancy rule was created or an existing rule was re-activated, it did not apply the rule to all dates that already met the condition.

This release improves this functionality by offering the user to choose whether to apply the Occupancy rule right away upon creation to the dates that already meet the condition or to not apply. 

Example:

New rule created: Occupancy rule to increase the rate by 10% if occ > 50%. On 18 March the occupancy is 60%.

The user will now see a warning (see screenshot):  If user selects "Yes” - the price will increase for that date. If the user selects “No” - the price will remain the same for all dates and will only increase in the future when the occupancy reaches the required threshold of 50%.

Learn more about the Occupancy Rules and how to create them in our Knowledge Base: PIE - Rules and Alerts - Creating/Editing an Occupancy Based Rule / Alert

Compsets: allowing to create more than 1 record in compset with the same property and source

Previously, it was not possible to select 1 property multiple times in one compset.

Now the users can create as many of those records as they need, which means that a user can now compare multiple room types of the same property (from the same source) within one compset.

Example of a compset:

  1. Test Plaza - Booking.com - Standard Single room
  2. Test Plaza - Booking.com - Double Queen room
  3. Test Plaza - Booking.com - Suite

Learn more about the compsets and how to create them in our Knowledge Base: PIE - How to create/add a compset

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