Monthly Pricing with Beyond (available for Escapia and Track)

Updated 1 week ago by Taylor McManus

Like with short term pricing, it's important to keep monthly prices dynamic -- because the correct discount might not be the same every month. With Beyond Pricing, you can price monthly stays as well as short term stays (currently available for Escapia and Track connections).

How does Beyond Pricing determine monthly rates? We use historical reservations to determine the optimal percentage discount for each month of the year in your market for a monthly stay. This discount is applied to your daily prices to generate the rates you see in your Monthly Pricing calendar. When Monthly Pricing is enabled, we automatically push these prices to your monthly rate plan, which is activated when a guest quotes a monthly stay.

If you currently use Pricing + Relay and are on Escapia or Track, please reach out to support@beyondpricing.com and request to have Monthy Pricing enabled for your account.

The basics

Configuring Monthly Pricing in your PMS

  • Escapia setup: No additional setup is required. Simply set up Monthly Pricing in Beyond Pricing to get started. To quote a monthly stay with Monthly Pricing is enabled, simply verify pricing for the selected unit, and make sure the date range you enter is equal to or longer than 28 nights.
  • Track setup: Requires setting up a Monthly Rate Plan. Check here for details.

Preview Monthly Rates

Looking at a listing's calendar, you can select "Monthly Pricing" on the right hand side to preview the discounted monthly rates for the next year. 

How do you determine monthly rates? We use historical reservations to determine the optimal percentage discount for each month of the year in your market for a monthly stay. This discount is applied to your daily prices to come up with the rates you see on your Monthly Pricing calendar.

To quote a month-long stay, simply select the desired dates on the Monthly Pricing calendar and reference the summary tool on the righthand side:

Start Pricing Monthly Stays

Start pricing monthly stays by enabling the Monthly Pricing toggle. When Monthly Pricing is enabled, the prices on your calendar are be Beyond blue and we automatically push these prices to your monthly rate plan, which is activated when a guest quotes a monthly stay.

Note that if you turn Monthly Pricing off, we will remove previously posted rates from the corresponding rate plan in your PMS. Toggling Monthly Pricing on and off does not impact short term pricing.

You must have general Price Syncing enabled to use Monthly Pricing. If you turn general Price Syncing off, you will also turn Monthly Price syncing off.

Monthly Pricing Seasons

To push monthly rates for only select date ranges, create monthly pricing seasons:

Know you want to accept monthly bookings for the same seasons each year? Create Monthly Pricing Seasons years in the future to keep the good prices rolling:

Note: If you set up Monthly Pricing Seasons, we will not push Monthly Prices for dates outside of the specified seasons. That means if a season you created has passed and there are no future seasons, we will not post Monthly Prices until you create a new season. Pro tip: If you previously used Monthly Pricing Seasons but would like to set Monthly Prices year round, simply enter a new season for the years to come. If you have questions, please reach out to our support team at support@beyondpricing.com -- we're always happy to help!

Monthly Minimum Price

Just like with short term pricing, you can set a Monthly Minimum Price in Beyond Pricing, which is the absolute lowest price you would be willing to accept accept. We will never suggest prices below this amount.

The Monthly Minimum Price is set at the daily amount. You can find the right Minimum Price by dividing the lowest overall monthly price you would accept by the length of a monthly stay, like this:

  • Monthly Min. Price = (Lowest Price for Monthly Stay) / (# nights in Monthly Stay)
For example, if my monthly stays are 28 days long, and the lowest price I am willing to accept is $1,200, I would set my Monthly Minimum Price to $43 ($1,200 / 28 = ~$43).

Seasonal Minimum Prices for Monthlies

You can set Seasonal Minimum Prices for Monthly Pricing in the Customize tab for each listing. Again, you will set the Seasonal Monthly Minimum Price at the daily amount.

Be sure to fill out the short term Minimum Price for each season, too. If you would like to keep your general short term Minimum Price, simply enter the default Minimum Price specified for that listing.

That means your Seasonal Monthly Min. Price should equal the lowest price you'd be willing to accept for a monthly stay divided by the # nights in Monthly Stay.

For example, if my monthly stays are 28 days long, and the lowest price I'm willing to accept is $1,500 during January and February, I would set my Monthly Minimum Price to $54 ($1,500 / 28 = ~$54) for that time period. In this case, I don't want to change my short term Minimum Price, so I'll set my short term Minimum Price to $61 (the annual Minimum Price).

Manual overrides for Monthly Pricing

Just like with short term pricing, you can also override prices (increase by a percentage, decrease by a percentage, or set to a flat price) in your Monthly Pricing Calendar. Manual overrides implemented on the Monthly Pricing Calendar will not impact prices on the short term pricing Calendar, and vice versa.

Overriding Prices is easy:

  1. To get started, first select and drag days on your Calendar or input your desired date range on the righthand sidebar:
  1. Then, enter the adjustment you would like to make and click "Save changes":
Note that if you want to set a flat price, the price you enter should be set to the daily rate for a monthly stay. For example, if I would like to set the aggregate monthly price to $1,800 for the selected date range (28 days long), I would input $64 ($1,800 / 28 = ~$64).
  1. Manually overridden rates will appear on your Calendar in orange:
  1. If you would like to remove manual overrides, simply select the date range again and click "Clear manual overrides" on the righthand side panel. Once cleared, the rates will return to blue.

Maximum Stays

Annual and Seasonal Maximum Stays that you have set up in the Customize tab for each listing apply to both short term stays and long term stays.

If you don't already have access to Maximum Stays in your Customize tab and would like to, please reach out to support@beyondpricing.com. Our team is happy to help enable them for you.

FAQs

Q: What if a customer quotes a month-long stay where only some, but not all, of the dates have Monthly Pricing enabled?

A: In this case, the quote will include a mix of discounted rates and daily rates. For days that have monthly pricing enabled, we will quote the discounted monthly rate, and for days that do not have monthly pricing enabled, we will quote the daily rate.

Q: Can I use Monthly Pricing even if I'm not using short term pricing?

A: Yes! To push monthly prices, price posting must be turned on for your listing and the enable monthly pricing toggle must be "on". To only allow guests to book monthly stays using Beyond monthly prices, turn price posting on, monthly pricing on, and adjust your Minimum Stays to 28+ days.

Q: I'm not on Escapia or Track but I would like to use Monthly Pricing with Beyond. When can I expect this feature to be available to me?

A: Please reach out to our support team at support@beyondpricing.com to request Monthly Pricing for your channel or PMS. We'll take note of your request and reach out to you when the feature is available to you.


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