Difference between revisions of "Yield Optimiser"

From Beds24 Wiki
Jump to navigation Jump to search
(14 intermediate revisions by 3 users not shown)
Line 2: Line 2:
 
[[Category:Prices]]
 
[[Category:Prices]]
 
[[Category:Automation]]
 
[[Category:Automation]]
  ''This page is about the menu SETTINGS->YIELD OPTIMISER''
+
[[Category:Dynamic_Prices]]
 
+
[[Category:Rules]]
I idea of the yield optimizer is to automatically adjust prices based on demand shortly before check-in.  
+
[[Category:Enhanced_Selling]]
 +
<div class="heading">Yield Optimizer</div>
 +
  This page is about the menu PRICES >YIELD OPTIMISER and explains how to create rules to automatically adjust prices.
 +
__TOC__
 +
The idea of the yield optimizer is to automatically adjust prices based on demand shortly before check-in.  
  
 
Prices can be adjusted up or down. Multiple rules can be created and will work together.
 
Prices can be adjusted up or down. Multiple rules can be created and will work together.
 
Each rule can be assigned to one or more rooms. A rule will only adjust the price when it's trigger condition is met and if the room multiplier is not manually over-ridden.
 
Each rule can be assigned to one or more rooms. A rule will only adjust the price when it's trigger condition is met and if the room multiplier is not manually over-ridden.
 +
 +
The multiplier will apply to all prices. If you use rates you can deactivate the multiplier by setting "Allow Multiplier" = No in the Summary tab of the rate.
  
 
== Rule ==
 
== Rule ==
Line 14: Line 20:
 
Examples: The regular price per night is €100. 40% will lower the price to €40. 150% will raise the price to €150. 100% will leave the price unchanged.
 
Examples: The regular price per night is €100. 40% will lower the price to €40. 150% will raise the price to €150. 100% will leave the price unchanged.
  
The percentage to which a price is changed by the yield optimizer will show in the CALENDAR with a blue background. These automatic values can be manually over-ridden. Manual overrides will have a white background. In the CALENDAR you can also set individual dates or days of the week to "manual" to override the rules.  
+
The percentage to which a price is changed by the yield optimizer will show in the CALENDAR with a blue background. These automatic values can be manually over-ridden. Manual overrides will have a white background.
  
 
[[Image:yield.png|300px|link=]]
 
[[Image:yield.png|300px|link=]]
Line 21: Line 27:
 
The maximum value is 250%.
 
The maximum value is 250%.
  
  Note: The yield optimizer will not override manual multipliers.
+
You can choose the rule not to apply for channel management.
 +
 
 +
<span style="color:#fe746c;“ >{{#fas:exclamation-triangle}}  </span> The yield optimizer will NOT override manually entered multipliers. To remove a manual rule go to the Calendar, click in the Price multiplier row, select 'Auto' from the drop-down list and enter a date range This will allow any Yield Optimiser rule to be applied.
  
 
== Trigger ==
 
== Trigger ==
Line 35: Line 43:
 
The rule will be applied to the ticked rooms.
 
The rule will be applied to the ticked rooms.
  
Multiple rules can apply at the same time and the percentage changes will accumulate.
+
Multiple rules can apply at the same time and the changes will accumulate.
  
 
Example: Original price = 100€, Rule 1 = 120%, Rule 2 = 150%. After the application of both rules the price will come to 180€.
 
Example: Original price = 100€, Rule 1 = 120%, Rule 2 = 150%. After the application of both rules the price will come to 180€.
Explanation: 120% of 100€ = 120€. 150% of 120€ = 180€.
+
 
Note: The order of the rules does NOT matter because: 150% of 100€ = 150€. 120% of 150€ = 180€.
+
Explanation:
 +
*120% of 100€ = '''120'''€.
 +
*150% of '''120'''€ = 180€.
 +
 
 +
Note: The order of the rules does NOT matter, because:
 +
*150% of 100€ = '''150'''€.
 +
*120% of '''150'''€ = 180€.
  
  
Note: We recommend you check carefully that your rules work as expected.
+
<span style="color: #f3e504; font-size: 250%;" >{{#fas:lightbulb}} </span> We recommend you check carefully that your rules work as expected.

Revision as of 09:53, 29 June 2020

Yield Optimizer
This page is about the menu PRICES >YIELD OPTIMISER and explains how to create rules to automatically adjust prices. 

The idea of the yield optimizer is to automatically adjust prices based on demand shortly before check-in.

Prices can be adjusted up or down. Multiple rules can be created and will work together. Each rule can be assigned to one or more rooms. A rule will only adjust the price when it's trigger condition is met and if the room multiplier is not manually over-ridden.

The multiplier will apply to all prices. If you use rates you can deactivate the multiplier by setting "Allow Multiplier" = No in the Summary tab of the rate.

1 Rule

Set the start and end dates when the rule is valid and the percentage value of your normal price to charge when the rule is triggered.

Examples: The regular price per night is €100. 40% will lower the price to €40. 150% will raise the price to €150. 100% will leave the price unchanged.

The percentage to which a price is changed by the yield optimizer will show in the CALENDAR with a blue background. These automatic values can be manually over-ridden. Manual overrides will have a white background.

Yield.png view large

The maximum value is 250%.

You can choose the rule not to apply for channel management.

The yield optimizer will NOT override manually entered multipliers. To remove a manual rule go to the Calendar, click in the Price multiplier row, select 'Auto' from the drop-down list and enter a date range This will allow any Yield Optimiser rule to be applied.

2 Trigger

Set the condition when the prices should be changed. Rules will trigger on a per date basis so they will only trigger on dates which meet the trigger condition.

A rule can be applied to bookings with arrival up to 30 days in advance. It can be restricted to a shorter period or a time window.

A rule can be set to apply when a certain number of rooms is available on the night.

  • If multiple rooms are selected the availability in these rooms will be added up. This sum is then the trigger which will apply the rule.
  • If no rooms are ticked the rule will automatically use the availability in the room or rooms selected in the "Apply to" tab. In this case the availability of each individual room is used to trigger the rule on that room.

3 Apply to

The rule will be applied to the ticked rooms.

Multiple rules can apply at the same time and the changes will accumulate.

Example: Original price = 100€, Rule 1 = 120%, Rule 2 = 150%. After the application of both rules the price will come to 180€.

Explanation:

  • 120% of 100€ = 120€.
  • 150% of 120€ = 180€.

Note: The order of the rules does NOT matter, because:

  • 150% of 100€ = 150€.
  • 120% of 150€ = 180€.


We recommend you check carefully that your rules work as expected.