Dynamic rates, or an update that you can’t do without

Based on the experience of our clients, we found that everyone has a different approach to pricing policy:

• some hotels do not change the price all year round, it should be noted that such hotels are in the minority;
• the second, focus on seasonal demand and change prices depending on the time of year and weather conditions;
• still others use dynamic pricing by analyzing the market, competitive offers and hotel occupancy.
  

We conclude that most companies constantly change prices manually. It is long, inconvenient and not always done on time. Therefore, to make it easier to work with pricing for our product, we have developed updates with the dynamic plans module.

What is it?
Dynamic rate plans are a must-have in the hospitality industry. All you need is to calculate the pricing grid once, depending on the number of bookings, seasonality and holidays, and create the appropriate tariff parameters in SERVIO HMS. Everything else is calculated for you by the system.

What will the business gain from this?

• Hotel occupancy. The system automatically controls the number of bookings and forms the price according to the rules you added:
  reduced at low load;
  average when reaching the number of bookings to a certain extent;
  and maximum, when the hotel is very busy. The number of tariffs can be set, you configure it based on the needs of your business.
• Income. The advantage of dynamic pricing is that we sell rooms a little cheaper in the beginning and earn on volume. Those guests for whom your hotel is over budget but targeted for it will book earlier. So you will get more volume at the start, when the hotel load is not maximum. When occupancy is high, prices will rise and you will get more profit from those who need a room for a short period.
• Saving time. Now you do not need to add each price separately. Create rules for a certain period, occupancy level or season, and the system automatically pulls up the right price.
  Visualization. Using a user-friendly interface, you can visually view all the specified criteria, and change them if necessary.
  

How it works?

• Choose a specific period – a week, a month, six months or a year.
  Choose the level of occupancy of the hotel, depending on which it will be necessary to increase or decrease the cost. For example, 10-50%, 50-80%, more than 80%, and so on.
  Set up tariffs for each period or load level.
  When booking, the system automatically ships rates that meet the criteria. Everything is simple and will no longer take so much time and effort.
  

To update the system, please contact the support service, the tariffs depend on your service contract.

Do you have any questions? We are always happy to answer them.