Monthly Pricing with Beyond (available for Escapia and Track)
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.
- Review monthly rates in your BP Monthly Pricing Calendar.
- Start pricing monthly stays by enabling the Monthly Pricing toggle.
- Don't want to accept discounted monthly stays year round? Set Monthly Pricing Seasons to push monthly rates for certain date ranges only.
- Access all the Customizations you're familiar with for Short Term Pricing with Monthly Pricing too, including the Minimum Price, Seasonal Minimum Prices, and Manual Overrides.
- Set up Monthly Pricing one at a time in the listing view, or for several listings at once using Filters and Bulk Actions.
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.
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.
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:
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)
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.
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:
- To get started, first select and drag days on your Calendar or input your desired date range on the righthand sidebar:
- Then, enter the adjustment you would like to make and click "Save changes":
- Manually overridden rates will appear on your Calendar in orange:
- 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.
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 firstname.lastname@example.org. Our team is happy to help enable them for you.
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 email@example.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.