Does anyone use ALL NIGHTLY RATES?


  • Leader

    I’m thinking of switching my rates to all nightly rates, but with minimum stay requirements still in place. Has anyone else done this? Pros and cons?



  • Hi @Jenny-Oest ,

    I’ve moved this over to General Discussion to increase its visibility.

    Cheers,
    Danny


  • Advisor

    @Jenny-Oest Do you mean as opposed to weekly rates (requiring a minimum of 7 nights?)
    If that’s the question, yes, I price based on nightly rates. In Greece I have one standard rate per night (with a minimum for x number of guests depending on the unit, plus a fixed rate per extra guest/per night). Weeknights and weekends are the same price.
    In Chicago I have a Monday - Thursday rate and a week rate which is significantly higher. Before all of this channel management (and syncing and instant booking etc) took control of my business, I used to be able to have it so that if they booked more than 5 nights they did not pay the really high weekend night but in my urban market I have learned that most folks just want 2 or 3 nights over the weekend, so I can charge as much for 2 or 3 nights as I can for a week.
    In a fly to resort destination this type of pricing might not work so well, I think it just depends on how long people tend to stay in your market.


  • Leader

    @Carole - I’m looking at how the Beyond Pricing works, with all fluctuating nightly rates. Then figuring out how to discount for a one week stay.


  • Explorer

    @Jenny-Oest - We charge a 10% surcharge for bookings less than one week. To get this to work for us simply, we took our weekly rate (7 nights) divided it by 7, then multiplied the result by 1.1. Voila! Plugging this into the nightly rate gives us our built in surcharge and an automatic discount for those staying the full week!

    Darrell


  • Leader

    @Darrell-Looney112 - that’s pretty much what I do now - my weekly is about equal to 5 nights. But the dynamic pricing sets different nightly rates, and they change daily. I’m not sure how to translate that to a weekly rate, or even how to keep adding it.


  • Explorer

    @Jenny-Oest - Is there a way you could build in an automatic discount of 5 - 10% for the full week booking? When you say “Beyond Pricing”, is that the dynamic pricing scenario? how does that work?

    Darrell


  • Leader

    @Darrell-Looney112 - I think so - still learning with the new app


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