A Clear Guide to Managing Your Pricing Automation
Avantio Dynamic Pricing is designed to automate and optimize your pricing strategy. Below you'll find a step-by-step guide to activate or deactivate this feature and understand how it works in each case.
Key Definitions
Dynamic Pricing: a system that automatically adjusts your property rates based on market data, demand, and seasonality.
Revenue Tab: a section within your Avantio account where pricing strategies are set up and managed.
Opt-in / Opt-out: the action of enabling or disabling dynamic pricing adjustment on a specific property.
How to Add the Dynamic Pricing Module?
Before activating an individual listing, the module must be added to your account. To do this:
Contact your account manager.
The manager will send you a contract with the prices and conditions, which you can sign electronically.
Once the signed contract is received, the manager will activate the module in your account.
From that moment, you can access the Revenue tab and start activating Dynamic Pricing for each property.
How to Activate Dynamic Pricing on a Property?
To enable this feature on a listing, follow these steps:
Go to the Revenue tab.
Select the property from the grid view.
Click the Opt-in switch to activate automatic pricing.
Set up your pricing strategy (base rate, minimum, and maximum).
Save the changes.
Rates will automatically update in a few minutes, and you can see them reflected in your revenue calendar. From that point, the system will adjust nightly rates based on market data, demand, and your configured preferences.
What Happens When You Activate Dynamic Pricing?
Your listing prices will dynamically adjust daily based on real-time market data.
The system will consider market trends, seasonality, lead time in bookings, and fluctuations in demand.
Your manual price adjustments will be replaced, although you can still define a base rate and minimum and maximum prices.
Prices will automatically update daily on your property.
You won't be able to edit prices manually while the feature is active.
How to Deactivate Dynamic Pricing?
If you wish to return to manual price management, follow these steps:
Go to the Revenue tab.
Locate the property for which you want to deactivate Dynamic Pricing.
Turn off the Dynamic Pricing switch.
Confirm the deactivation in the pop-up window by selecting Confirm & Disable.
What Happens When You Deactivate Dynamic Pricing?
Prices will stop updating dynamically.
No more adjustments based on market data will be applied.
The last active rates before deactivation will be restored.
You can make manual price adjustments as needed.
If you were using another tool before, you'll need to set prices with the free rate list feature or connect another third-party solution to maintain live prices.
If you reactivate it later, the system will apply the most recent pricing strategy again.
Avantio Dynamic Pricing is a tool designed to simplify rate management and maximize revenue through real-time market data.
Understanding how to activate, deactivate, and monitor its performance will allow you to leverage its full potential efficiently and effortlessly.
Frequently Asked Questions
How can I check the prices set by Dynamic Pricing?
How can I check the prices set by Dynamic Pricing?
Once activated, the new prices are sent in seconds, and you can check them in your revenue calendar or rate list.
Can I try multiple base rate strategies?
Can I try multiple base rate strategies?
Yes, you can try multiple base rate strategies at no additional cost.
If I activate Dynamic Pricing mid-month, will I be charged for the full month?
If I activate Dynamic Pricing mid-month, will I be charged for the full month?
Yes, a fixed fee per listing is charged monthly, regardless of the activation date.
The recommended rates seem very high, why?
The recommended rates seem very high, why?
Check if you have any surcharges applied. All surcharges or discounts set in Avantio or the OTA are applied to the dynamic price. This system provides final prices, so it's recommended not to add additional surcharges.
Can I still use discounts and surcharges along with Dynamic Pricing?
Can I still use discounts and surcharges along with Dynamic Pricing?
Yes, although you should keep in mind that the system calculates the final price per night.
How to check the performance of Dynamic Pricing?
How to check the performance of Dynamic Pricing?
The best way is to review the performance dashboard and booking data. Compare the booking pace since the activation of Dynamic Pricing with the same period last year.
When is Avantio Dynamic Pricing invoiced?
When is Avantio Dynamic Pricing invoiced?
Invoicing is done one month in arrears. For example, usage in August will be charged at the end of September.