For any future night and inventory type, Pace allows you to configure strategic controls that influence how high or low Pace will price when running on Automation. This will not only ensure that Pace's recommendations always consider your overarching strategic pricing strategy - but also to push you to your desired price level in case you made a manual pricing mistake.

What type of Price Controls exist

In Pace we have three different types of price controls that can be created:

  1. Default Price Settings
    Specify the min & max price for each of your inventory type for each day of the week (e.g. specify different min/max prices for a Tuesday vs a Friday).

  2. Seasonal Price Settings
    Create an additional set of seasonal price settings to configure the seasonal component of your yearly pricing strategy.

  3. Event Price Settings
    In case you are not aware of events, you can create event-specific price settings which help you to keep track of event days and give Pace additional insights how you want to price events.

  4. Property Closure

    Making use of this function during times of physical closure of the property (Covid-19 lockdowns are a great example of this!) will make sure our pricing engine understands that the data it sees' for this period, is due to the property physically being closed. Other examples could be refurbishments, natural disasters etc.

How to create new Price Settings

  1. Navigate to the Pricing Tab

  2. Navigate to Price Controls

  3. Click on Create New in the bottom right corner and choose your setting type, a title, the date range and the min & max prices

Configure your Default Price Settings Article with video demonstration

Tips & Tricks

  • To create a new seasonal or event price setting, you can simply click on the timeline and drag across the relevant dates

  • You can easily switch the type of a setting from Event to Season (or the other way around) by clicking on the respective setting, changing the type and clicking Save

  • If you have multiple days of the week in a setting which should be the same, make use of the copy & paste buttons to quickly populate the relevant fields.

  • For events which repeat on annual basis you can replicate existing settings. To do so, open the existing Setting and use the duplicate button.

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