Overview

Dynamic Pricing is a feature available on a Rate Table that automatically adjusts the rate amount based on occupancy and time rules in RMS.

Adjustments can be set as a positive or negative flat amount or percentage adjustment, or an alternate Rate Table can be used once the criteria are met. Dynamic Pricing rules can be based on an occupancy percentage, lead time to arrival, or a combination of both.

The occupancy percentage used for dynamic pricing is determined by the Occupancy Calculation Rule option set up on the property. It can be based on the category occupancy or overall property occupancy.

Fluctuations in reported revenue due to dynamic pricing adjustments can be tracked using the Dynamic Pricing Profit/Loss Summary report, with applied adjustments visible in the Total Rate Breakdown on a reservation.

Derived Rates set up to calculate from a standalone rate that includes dynamic pricing rules will be calculated using the linked rate's base rate plus dynamic pricing adjustment to determine the derived rate amount.

Tip! The default occupancy range of 0-100% can be used if only a lead time dynamic pricing rule is required. A lead time component can be added to any occupancy range rule to set the rate adjustment criteria to require both the occupancy range and lead time to be met.

Please Note! RMS is highly configurable. Some Terminology, User Access & Permissions, Images, Labels, and Functions used in these articles may differ from your setup. CLICK HERE to find out more.

Quote Recalculation

If a rate change occurs between generating a quote and saving the reservation due to Dynamic Pricing, a message will appear to notify the User. 
This allows them to inform the guest about the updated rate and confirm whether they wish to proceed with the reservation.

Guide

In the side menu of RMS, go to Charts > Rate Manager.

1. Select Rates.
2. Select Rate Tables.
   
    
3. Select an existing Rate Table.
4. Select 'Edit'.
   

• Dynamic Pricing by Occupancy

1. Select 'Occupancy'.
2. Select 'Add'.
   
    
3. Enter the Occupancy Range.

4. Select an Adjustment Type.
    

   Select 1 of the following options -

• Rate Adjustment
  Select the Adjustment Type.
  Enter the Adjustment Amount.
  Select the checkbox 'Include Additionals in calculation' (Optional).
• Create New Rate Based on Existing:
  Select an existing Rate Table.
  Enter the new Rate Table Name - (Ensure consistency with Property Rate Table Naming Conventions when configuring).
• Use Existing Rate:
  Select an existing Rate Table.
  

 • Dynamic Pricing by Time

1. Select 'Time'.
2. Select 'Add'.
   
    
3. Select the Time option or Date Made From.
4. Select and enter the Rate Adjustment.
   
   Select 1 of the following options -

• Rate Adjustment
  Select the Adjustment Type.
  Enter the Adjustment Amount.
  Select the checkbox 'Include Additionals in calculation' (Optional).
• Create New Rate Based on Existing:
  Select an existing Rate Table.
  Enter the new Rate Table Name - (Ensure consistency with Property Rate Table Naming Conventions when configuring).

• Use Existing Rate:
  Select an existing Rate Table.