There are two important points for you to consider when pricing your daily rates.
The first is to understand that your rate must relate to the cost of the guest’s daily rate that is the amount of all accommodation expenses must be divided by the number of beds in the month.
The number of beds in the month is nothing more than the multiplication between the number of beds and the number of days in the month.
This is your base cost for calculating the daily price:
The second point is that the rate must relate to the amount paid by the public for your property.
Managing rate discounts is also not an easy task, if you lower the price too much to increase your occupancy, you may even be able to increase reservations, but you may not be making a profit as you anticipated.
Therefore, applying the right price to your property is the key to the future of your business. Work with a bolder pricing strategy and make the average ticket go up inside the hostel. With the help of the HQ, we will guide you on how to apply discounts and adjust your rates for each situation.
Calculate floating rates based on your occupancy
Use our precifier to automate the management of rates, determining the occupancy ranges for which you want to change values, and apply discounts or additions to prices.
This tool is ideal for adjusting rates automatically, as they have become increasingly dynamic today. In our blog, we have tips on how to use the HQ Precifier.
Adjust your standard, special, high season and holiday prices
Having the automation of floating prices on your property is very important and also saves time for you and your team. You don’t have to adjust your price 2 or 3 times a day manually.
For this it is important that you have set a base price for your rooms / beds. These are the prices that you practice on “ordinary” days and that are out of high season or holidays, for example.
Register your standard rate
In our system create your standard rate for weekdays and weekends in Property> Setup> Room Types, the price will apply across the entire property map. In addition, this is a way for you not to run the risk of having some nights with no price and to facilitate adjustments to special rates.
Customize your high season, holidays and special rates
Manage your rate on days such as holidays and dates with an event that is happening in the city, for example, and because of that your property will have an increase in occupancy. For these cases, practice different rates and increase your revenue in the period.
In the hq, we provide the Rates and Availability tool. With it you can adjust the rate for a single day and room type, or make mass changes to multiple room types and dates at once and set different prices for each day of the week. These adjustments made in the Rates and Availability tool replace the standard price for the adjusted period.
Go to Property> Rates and Availability, set the period for consultation, and set the single day rate by clicking on the price on the chosen date and make the change. See examples:
Remember that if you have a channel manager connected to the hq, all adjustments made to the Rates and Availability tool in the chosen period must be manually synchronized with the channel manager, through the Synchronize Rates and Availability button, which is located on the main screen of the tool.
For more details visit our help central.