Setting Rate Rules
The article outlines an efficient approach to manage Rate Plans through automated Rate Rules. Rate Rules automatically adjust your rates (price, minimum stay, maximum stay, and availability) based on specific conditions you set. With features like dynamic rate adjustments and repeat annual settings, the system empowers you to increase revenue while maintaining control and flexibility over their rate plans.
Steps to Set Up a New Rate Rule
Log into your Zeevou account.
Navigate to Pricing, then Rate Rules on the main menu.
Click on Create a Rate Rule in the top right corner
Select one of the types of Rate Rule you want to create:
Change in Price
Change in Availability
Early Bird Bookings
Last Minute Bookings
Orphan Nights (If the number of nights between two bookings is lower than the minimum stay specified in the rate plan, those nights are classed as Orphan Nights.)
Booking Window (Vacation rental booking window (or booking lead time) is the period of time between when a reservation is made by the guest and their check-in date.)
Advanced Rule
Click on Proceed.
On the General Info card:
Give your rule a Title.
Select the Mode as One-time or Annual.
Set the Time Period: Choose the Start Date and End Date when the rule applies.
Rate Rules Settings
You can keep the default Rate Rule type or select another one that aligns with your reason for creating this rule.
Change in Price
Select Days of the Week and Price Adjustment (increase/decrease by percent) to apply the rule only on certain days.
Change in Availability
Select Days of the Week and the actions you wish to apply.
Note 1: There are four toggles of Override Length of Stay, Override Stop Sell, Override Stop Check-ins, and Override Stop Check-outs. If any of the toggles are not enabled, the Rate Plan settings will be automatically applied for the corresponding options.
Note 2: Each action covers the following functions:
Override Length of Stay: Adjust the minimum or maximum stay.
Override Stop Sell: Prevent or allow bookings on certain dates.
Override Check-Ins/Outs: Prevent or allow check-ins or check-outs.
Early Bird Bookings
Set the number of days/months when The Rule Ends before stay dates.
Select the actions you wish to apply (Override Price, Length of Stay, Stop Sell, Check-Ins/Outs).
Last Minute Bookings
Its setting is like the Early Bird Bookings except that you should set the number of days/hours when this rate rule ends before stay dates.
Orphan Nights
Its setting is like the Early Bird Bookings except that you should select the specific Days of the Week.
Booking Window
Set the number of days/months when this rate rule applies to the future.
Advanced Rule
Adjust the Conditions and Actions you wish to apply by turning on the different toggles.
You can turn on more than one condition and action at the same time but at least one action is necessary to create a rate rule.
You can turn all Conditions toggles off in advanced Rate Rule. This causes the Rate Rule to apply the condition on all days of the selected date range.
The Conditions card includes:
Days of the Week: The rule will be applied ONLY on the selected days.
Occupancy Level: If you turn this on and the occupancy level is lower/higher than a certain percentage, the rules will be applied.
Lead Time: This condition specifies how far in advance you want the Rate Rule Actions to be applied.
Booking Gap: To calculate the number of nights gap between two bookings,
Shouldr Nights: How many nights before and/or after a Unit Type being available, you want the rate Rule action apply to..
The Actions card includes:
Override Price: You can switch from percentage to Fixed Price. You can also tick Set Limit for increasing/decreasing the prices by selecting Percentage or Amount Price.
Note: You can choose your preferred currency for a fixed amount. On the Allocation card, you will view All Possible Rate plans with the selected currency.
Override Length of Stay
Override Stop Sell
Override Stop Check-Ins/Outs
On the Allocation card:
The Booking source of the Rate Rule is already set for both Channel, Direct Websites, and Manual Bookings. You can change if needed by clicking on Modify Rate Plans.
Select which Rate Plan this Rate Rule will apply to Specific Rate Plans or All Possible Rate Plans.
Click on Save to finalise the rule.
Created Rate Rules Overview
On the Rate Rules Dashboard, click on the three dots under Actions to select View/Edit, Activate/Deactivate or Archive.
Note: You cannot delete a created Rate Rule. When a Rate Rule is archived, it is deactivated.
To view archived Rate Rules, click on the Rate Rules arrow to select Archived Rate Rules .
You can click on the three dots under Actions to select Unarchive or View.
Click on the Filter icon to apply filters to view them.
Can't find what you're looking for?