How to create a dynamic pricing rule

  • Anna Branquinho |
  • 0 step |
  • 8 minutes
  • RoomraccoonRoomraccoon
Click "Channel Manager"
Click "Dynamic Pricing"
Click "New rule"
Click the "Add a rule name" field.
Click this dropdown to select whether you would like this rule to be saved as active or inactive. Inactive rules can be manually activated at a later stage.
Selecting a date range is optional. Date ranges can be used to create dynamic pricing rules that only run for a specific amount of time - like a campaign. If you set a date range, the rule will be active during this period. Once the rule reaches it's expiry, the rule will **deactivate automatically.**
Click the "No end date" field to fill in an optional end date for your rule.
In the Rule Conditions section, click this dropdown to select your occupancy scope. This can be based on your overall room occupancy (all rooms in your property) or based on the percentage occupancy of your room categories.
Use the slider toggle to determine the occupancy range variables for your pricing rule. This can be a single variable, like 20% or 20 rooms booked, or can be a range. For example: Between 20% and 40% of your overall occupancy.
Next, set the lead-time to guest check-in condition by clicking this dropdown to select days or weeks in advance of guest check-in.
If you select "Weeks" instead of days, be sure to consider using the "+1 Day" tickbox to prevent overlapping rules, which could cause a conflict in the Channel Manager.\ \ For example, if one rule covers one week (1-7 days) before check-in, ticking this box for the next rule, 1-2 weeks (7-14 days) will shift it to 8-14 days, preventing any conflict if the guest books exactly 7 days before check-in.
Click here to set the **minimum** number of days or weeks in advance a guest can book before their check-in date as a condition for this rule.
Click here to set the **maximum** number of days or weeks in advance a guest can book before their check-in date as a condition for this rule.
You can always see a summary of your dynamic pricing rule statement at the bottom of each section, which will help you understand how the rule is formatted.
In the "Apply Dynamic Pricing Actions" section, click this field to apply a positive percentage as a surcharge, or a negative percentage to apply a discount when the conditions for the pricing rule are met.
Alternatively, you may choose to stop sell a rate plan when the conditions of your dynamic pricing rule are met. Click "Activate" to apply this dynamic pricing action. When you apply a stop sell, RoomRaccoon will apply a one hundred percent discount to your rate, setting the selected rate plan to zero.
If you have the RaccoonRev upgrade enabled, you can choose to "Set Additional Competitor Parameters".
Click this dropdown to include competitor availability conditions like when your competitors are sold out entirely, one of your competitors are sold out, or if certain room categories of your competitors are sold out.
Click this dropdown to include competitor pricing variables like average price increases or decreases.
Click "Choose when this rule should apply" to select the specific days of the week and months of the year that you would like this rule to apply.
Click here to select specific days of the week, or all days of the week.
Click here to select specific months of the year, or all months of the year.
Click "Select Room Categories & Rate Plans" to select which rate plans you would like this dynamic rule to affect.
Clicking on this icon will show you all rate plans per room category.
Click here to select specific rate plans under room categories.
Click "Save"
After saving your new pricing rule, click here to return to the dashboard.
N.B. After you create a new rule **or** update an existing rule, click "Synchronise" to instantly the rate changes through to your Booking Engine and External Channels.
Click this icon to use rounded rates if a dynamic pricing rule is applied to a rate plan. Dynamic pricing enables you to apply discounts and surcharges to rates using percentages, which could result in recurring decimal point pricing. Selecting this tickbox ensures that your rates are always whole numbers, keeping your offering clear and cohesive for your guests.

Manually updating rates in the Channel Manager when you have active dynamic pricing rules

When you manually update your rates in the Channel Manager (using the "Pencil" icon), and you have dynamic pricing rules in place, you need to decide whether those dynamic pricing rules should apply to your new rates.
If you check the **"Overridable by Dynamic Pricing"** tickbox, the dynamic pricing rules will apply (override) on top of your new rate set in the channel manager. If you leave the tickbox unchecked, dynamic pricing will not apply on top of your new manually set rates.
In the right-hand side Summary, you will see whether your dynamic pricing rules are configured to override (apply) on top of your updated rates or not.
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