Our pricing framework
Our pricing framework for properties structures our pricing solutions in three categories – foundational, reactive and proactive. Whether your properties are looking to reach long-term revenue goals or fix a short-term occupancy gap, this framework will guide you in applying the right solutions to help them increase their occupancy in different contexts.
Rate Plans they set initially to appeal to the widest possible range of travellers. Our data shows that properties achieve the best results for occupancy when combining three Rate Plans. These are some of the Rate Plans your properties can offer on our platform:
•Essential Rate Plans (Fully Flexible, Early Booker and Non-Refundable)
Solutions to support properties’ long-term revenue strategy, for example by helping them appeal to specific markets and improving their visibility throughout the year. These are the opportunities to proactively set:
•Preferred Partner Programme
Solutions that help properties react to unique circumstances by boosting bookings at specific moments, for example when they need to fill rooms or units after multiple last-minute cancellations. The opportunities they can offer are:
•Deals such as the Early Booker, Basic or Limited Time Deal
Setting up effective price discounts with two APIs
Connected properties have different ways of offering discounted rates on our platform. Promotions have specific benefits that may encourage you to choose the Promotions API whenever possible, but your decision may also depend on operational efficiencies, system capabilities or even a property’s strategic approach to discounting
The Promotions API makes it easy for your properties to maximise the visibility of their discounted rates and increase conversion.
Providing strike-through benefits by default via the Promotions API is one of the most effective ways to maintain and grow revenue when partners use your system. This is enhanced by combining discounted rates with promotional tags, banners and filters that help attract travellers’ attention. We offer properties a variety of different promotions, so they can choose the ones that suit their own business goals and the current market trends.
Experience and testing has taught us that all of these performance cues make a big difference in booker behaviour. The Promotions API has been designed to take advantage of our learnings around how guests respond to the offers they see, which is why it’s the preferred method for sending us discounted rates.
Rooms and Rate Plan Management API
The Rooms and Rate Plan Management API simplifies the process of sending us discounted prices by letting your properties automatically update and create rooms and Rate Plans in one place.
There are several advantages to sending us discounts through Rate Plans:
- Depending on how properties’ systems are set up, Rate Plans can make it easier to track discounted reservations – this can be preferable for properties who keep discounts within their marketing budgets
- Because promotions aren’t a standard way of distributing prices, Rate Plans may make it easier to maintain price parity across different platforms, leading to better performance and no risk of lost revenue
- Rate Plans allow franchisees to set up certain discount types that aren’t supported by their parent company, with minimal impact on their workflows
Benefits of price discounts and promotions
We’re currently in the process of identifying ways to give extra visibility to discounts sourced via Rate Plans. This will allow your properties to continue to use Rate Plans while still sending us the details as promotions, so that they’re displayed most effectively on our platform.
Whether properties are sending us discounts through the Rooms and Rate Plan Management API or the Promotions API, there are significant benefits to using price discounts on our platform.
Benefits for your properties
- Properties can continue to use the Rate Plans versus Promotions API to track performance internally
- Discounted rates are more visible to travellers on our platform
- Discounted rates increase conversion by up to 5.4%
Benefits for you
- More clarity on optimal API usage for discount purposes, including how to improve operational efficiency with the Promotions API
- Achieve maximum exposure of discounted rates through optimal integration
- Rules created in Rate Plans are automatically translated into identifiable discounts that enjoy strike-through and tagging benefits