Dynamic Pricing FAQs

What is a dynamic pricing rule?

A dynamic pricing rule is a predefined set of conditions that automatically adjust the pricing of your room rate based on factors like your property’s occupancy and guests’ lead time to check-in.

How does dynamic pricing differ from manual pricing adjustments?

Dynamic Pricing automates the process, ensuring timely adjustments that are always aligned with market conditions.

What is the difference between dynamic pricing and RaccoonRev?

Dynamic Pricing is an integral feature located in the RoomRaccoon Channel Manager, designed to enhance your hotel's revenue management. This tool allows you to set up dynamic pricing rules that automatically adjust the pricing of select rate plans based on room occupancy and the lead time to guest check-in. Accessible to all hoteliers using RoomRaccoon, Dynamic Pricing offers the flexibility to create standard rules, with advanced custom rule options available for Premium and Enterprise subscribers.

RaccoonRev, on the other hand, represents an expansion of the Dynamic Pricing capabilities. As an optional upgrade within RoomRaccoon, RaccoonRev incorporates additional variables to refine your pricing strategies further. It enables you to set up dynamic pricing rules that not only consider competitor room availability but also respond to changes (increases & decreases) in competitor pricing. This means you can adjust your rates based not only on internal data but also on external market movements. Access to this competitor-based pricing adjustment is exclusive to users who opt for the RaccoonRev upgrade.

Can I use dynamic pricing for just one specific rate plan?

Yes, rules can be tailored to apply to individual rate plans or all rate plans under specific room categories.

How often should I click the “Synchronise” button on the dynamic pricing dashboard?

We suggest as best practice to click the "Synchronise" button whenever you create a new rule or update an existing rule to send updates to your rates instantly. However, suppose you forget to “synchronise” on the dynamic pricing dashboard after creating or updating a rule. In that case, the RoomRaccoon platform will automatically sync your rates whenever you receive a new booking, updating and checking your availability, and any changes to your existing rate plans.

How do dynamic pricing rules apply to base rates?

Dynamic pricing rules automatically adjust the default base rate set up in My Property unless you've manually changed it in the channel manager. To allow dynamic pricing to modify your manually set rates, tick the "Overridable by Dynamic Pricing" checkbox when making adjustments in the Channel Manager. If you leave it unchecked, your manually set rates will stay fixed, and dynamic pricing won't affect them.

How does the system handle rate adjustments when a dynamic pricing rule is no longer applicable?

Once a dynamic pricing rule is no longer applicable, the rate will revert to the last manual rate you set or to the default rate if no manual adjustments were made.