Dynamic Rates

Account Plan Management User Guide

Introduction

Dynamic Rates is a new enhancement that will allow for dynamic adjustment of prices in iBex based on occupancy levels. Operators can set up pricing rules against each individual rate, indicating that when the mapped occupancy threshold for each room changes, the prices are adjusted accordingly in iBex and also out to channel connections.

Dynamic rates are restricted to rate types mapped to one room type only. This requirement is due to the enormous technical changes allowing multiple rooms to work.

There is a job setup to sync the rate rule modifiers, this job will run a check against every property that has Dynamic Rates turned on and rate rules setup. The system will loop through each rate, checking the rules against the availability and removing any previous rate rule modifiers and applying new ones. It will then send a request off to the Interface Scheduler notifying of a rates update.

Note: The pricing updates will not be instantaneous. We will send the updates every 30 minutes.

Updates to prices will be applied periodically. Updates that occur on the fly can possibly cause too many updates to feed through to channels (some channels can take half an hour to apply a rate).

This feature is driven by a PMS option called ‘Dynamic Rates’. Accounts will be required to have the option activated for any of these described features to be available.

Video Instructions

iBex Backend Setup

Rates Management

Note: Ensure that the rate is assigned to only 1 room type, Dynamic Rates will not work when a rate is mapped to more than one room type.

On the Rate Details screen (Operations Rates Search Rates) there is a new section titled “Dynamic Rates”:

If the rate is mapped to multiple rooms, you will see the following note informing you that the dynamic rate feature cannot be used:

Note: The dynamic rate can be used in conjunction with a linked rate.

Selecting the “Add Another Dynamic Rate Rule”, will allow you to specify the count of availability to which the rate will be applied from, the amount and whether the rule is an amount offset or a percentage offset:

Save the rate once the rules have been setup.

Dynamic Rules can use dynamic rules from another rate to inherit dynamic rules, which are calculated used the availability of the room type attached to the rate that “owns” the dynamic rules. Rates that do not elect to inherit dynamic rules set their own dynamic rules and use availability of their own linked room type.

Lead Time
Dynamic rate will apply after X number of days. For example, if it is set at 1, then the dynamic rule will not apply for same day bookings.

Note: Dynamic rates must be main rates, not a child/infant rate.

Rooms / Rate / Selling Group Mapping

When on a Rooms / Rate or Selling Group mapping page you will be restricted to mapping the dynamic rate to only a single room. The following warnings and actions will occur:

Rate Type Mapping Screen

Room Type Mapping Screen

Selling Group Mapping Screen

Rate Calculation

Once a room’s availability drops to a level that activates a dynamic rate rule the pricing will be recalculated to incorporate the rate rule.

E.g. if a room usually has a price of $150, and a dynamic rate rule with an amount offset of $10 when availability reaches 2 or fewer (see example below of set up)

The price will increase to $160 once the availability drops to 2 or below on both the front booking screen and the backend in iBex.
Once the availability on a room increases to not being covered by any rate rules it will return the rate back tothe standard value.

Note: bookings that are made when no dynamic rate is applicable will book all rooms without any rate modifier attached regardless of how they affect the availability in regards to the rules. Only subsequent bookings where the dynamic rate is set when the booking is first made will have the modifier applied.

Rates Calendar

Prices in the calendar will show the current rate with all modifiers applied (if set to Sell Rate 1 or above).You can easily spot a dynamic rate by the “D” next to the rate name indicating it is a dynamic rate, they also appear as an orange / peach on the calendar:

On the ‘Key’ a new item has been added to show dynamic rates:

Prices on the calendar are the current active modifiers, not the live versions.

Clicking on the calendar cell will open the price window but only the base price is modifiable.Clicking the “How was this calculated?” link will open the description of the set occupancy modifiers (just like the selling group feature):

Backend Bookings

Making A Booking

When making a booking the booking will be made against the rate as it is at the start of the booking. If there is no dynamic rate attached when the booking screen is first opened the rate will not apply, however if a rate rule is already in place then this will affect the pricing.The rate remains the same from the start of the booking to the end, regardless of how the current booking affects the room’s rate availability.

Retrieve / Search

A filter has been added to the V4 bookings retrieve/export to show bookings that were booked with dynamic pricing activated.

Full Booking

The ‘D’ symbol will show inside a booking against any room that was booked with a dynamic rate.

Hovering over the suggested and actual rate will show an information bubble indicating the average dynamic rate which is now in place, and a dynamic rate was in use when originally booked.

The same symbol will show on the overview tab in the rooms section, with the same information bubble. 

When making a new booking / adding a new room, the price will be calculated/suggested based on the current rate rules.

Bookings Calendar

The bookings calendar hover bubble will show the price the rooms were booked at, it will not show whether or not a dynamic rate was used.
Quick New Booking will calculate the price based on the current rate rule.

Front Booking Screen

Desktop and Mobile Front Booking Screens

When the front booking screen loads (desktop/mobile), the prices will be calculated at that time and used:

As more rooms are added to the booking, any dynamic rate rules will not be applied.

When a room is added to the cart, the price it was displayed at will be locked into the booking. It will not be recalculated later on.

FBS will only show new prices as the rates are updated by the running job (the same time as channels are updated).