Before we can price or provide recommendations for your inventory, you will need to define your Default minimum and maximum price settings. This is important as it gives Pace guidance on the price range within which it can position each inventory type.

Factors to consider for your minimum and maximum price settings

Your Default price settings will always apply to all dates within the next 365 days (except where you add a set of Event or Seasonal price settings). You may want to consider:

  • Your minimum price should be set at the absolute lowest price you would accept during low season for the base rate code you chose.

  • The maximum price should allow enough space to accommodate for any one-off events or general high-demand dates - be ambitious with the ceiling you define.

  • Vary the settings by day fo the week if you know that certain weekdays, or perhaps the weekend, typically attract higher demand.

Where to configure your Default Price Settings

Defining your price settings is easy:

  1. Head over to the Strategic Controls page.

  2. Navigate to the Price Controls tab.

  3. Click on the blue Default Price Setting bar.

  4. Fill in the minimum and maximum price setting for each day of the week* and each inventory or inventory group.

    *If the price settings you have in mind are the same across multiple days, use the Copy and Paste option.

For more details on Seasonal and Event price settings read this article, and check out this one for some background to the hierarchy of price settings.

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