With this release, we are introducing an option to easily increase/decrease prices by x% or $x for date ranges AND one day at-a-time (manual daily rate updates with pricing differentials) within our Availability Matrix. This feature will make updating property pricing easier and quicker.
Price Differentials and Easy Rate Update features are only offered as part of Premiere and Enterprise packages.
The purpose of this new feature is to make it easier to dynamically manage rates in the system via our Availability Matrix table.
Availability Matrix "Price Differentials" feature allows to pre-set price differences between your accommodation types derived from the base accommodation type so that you can then update your rates with one click.
This new option appears on the Availability Matrix page in the drop-down menu under the new “Settings” button:
If no differentials are set - a red icon with an exclamation point is shown at the top right corner of the button.
Clicking on the 'Price Differentials' button opens a modal window where the user is offered to set Price Differentials for their accommodations and non-derived rate plans
If you check “Show Rate Plans” section, it opens up another section, listing all non-derived Rate Plans, for which differentials can also be added.
Base accommodation is that accommodation type that will be used as a base to calculate the rate for the rest of the accommodation types when making manual rate changes in the Availability Matrix table.
The base accommodation is reflected in the availability matrix with a green star and also on the availability matrix legend as you can see below:
- At least one Base Accommodation needs to be selected
- Multiple Base Accommodations are allowed
- First, configure your Price Differentials in the modal
2. When a rate change is needed, navigate to the Availability Matrix table
3. Enter the new price for any of the Base Accommodation(s) in the table
4. Once you hit “enter”, the system fills in the rates for all other accommodation types (based on the previously set differentials) for that specific date
5. Click “Save” and the prices are now updated for that date for all accommodation types automatically
Please check out this article to learn more about Price Differentials settings: How to set price differentials in the availability matrix
In the "long-term interval" section, when Base Rate is selected to be modified - we now show a drop-down with 3 new options:
- Set Amount (same functionality as was previously present in this field - the user just specifies the amount to set for the selected accommodation type(s) and selected dates)
- Increase (this increases current base rates for the selected accommodation type(s)/dates by the specified % or amount)
- Decrease (this decreases current base rates for the selected accommodation type(s)/dates by the specified % or amount)
Clicking on “Add Interval” updates the rates according to the selected parameters and values entered by the user at the previous steps.
Please note that Price Differentials (described in the previous section) don't apply when using the Long-term Interval - Please check further info on FAQ section below.
Note that some changes to the design of the Overbooking settings were made as part of this release, to follow a more logical flow.
The 'Allow Overbooking' option was removed from the main page and transferred to the Settings drop-down menu.
Clicking on “Overbooking settings” in the drop-down now opens this modal where the user can make a selection to enable or disable this option.
Overbooking setting is available for all the customers regardless of Cloudbeds package. Only the Price Differentials option is displayed for Enterprise and Premiere packages only.
For further information about Overbooking Option, check out this article: Overbookings features in Cloudbeds
Frequently Asked Questions
If rate plans are derived off the base rate and Price Differential is being used, once the user updates the base accommodations, the rate plans will also be affected (recalculated according to the new Base rate).
If rate plans are not derived off the base rate and Price Differential is being used then those rate plans will not be affected unless Price Differentials are also configured for those in the Settings.
If the user has the price differentials activated on the availability matrix and only wants to change the price for a specific day for 1 room type and not all room types they can:
- Enter the price for that accommodation in the Availability Matrix table without hitting "enter" (i.e. navigate away from the field or hit "tab" button). Only "enter" button triggers recalculation of prices based on the configured differentials.
- Access the calendar and change price for that accommodation on the calendar directly
- Use the long term interval in the availability matrix and only select the accommodation and base rate for that particular accommodation type.
No. The Price Differential option will be applied when the user modifies the room rate on the Availability Matrix table only. When using the Long Term Interval, the property has the option to update the room rate without affecting the other room types.
No. Price Differentials only apply to rate changes made in the Availability Matrix table. This will not work if the price is entered in the Calendar or changed on the Base Rate page.