Guesty’s pricing tools help you maximize income, and make your listing stand out in the booking channel platform. In this article, we explore the various tools you can use, including from third parties, and how you can use them in conjunction. These tools can also be utilized to control when a listing can be booked.
Guesty’s accommodation fare is the basic component of a reservation’s total price.
By default, the accommodation fare is calculated based on the listing’s base price. When the price is adjusted by a pricing tool, it becomes a “nightly rate.” To avoid confusion, we'll refer to the nightly rate (or base price, if it wasn't adjusted) hereafter as the "price per night".
Adjustments cannot result in a price per night of less than 10 USD or the equivalent value in other currencies. For example, a discount won’t be applied, if it lowers the price per night below 10 USD.
The accommodation fare is the sum of the price per night for the dates of the reservation. Each night’s price is calculated independently, and different nights can have different rates. Adjustment tools affect the cost of each night individually, except for weekly or monthly discounts, which apply to the price of all nights together.
Tools in the same layer may override one another, while higher-level tools are applied in addition to (“on top of”) adjustments by lower-level tools.
Following adjustments by all layers, the updated accommodation fare will be displayed in the guest invoice (folio).
Other costs can be added and calculated based on ("on top of") the accommodation fare, including basic fees, additional fees, and taxes.
Non-accommodation fare components will be shown on separate line items in the guest’s invoice (folio), with some exceptions.
Note:
- Channel commission can be added to the reservation total payout or just to the accommodation fare, fees, and taxes
The accommodation fare calculation layers
Let’s explore how pricing tools affect the calculation of the accommodation fare. Click a bullet to visit the article dedicated to the mentioned tool.
| 1st layer | |
| 2nd layer |
|
| 3rd layer | |
| 4th layer |
First layer: Base price
A listing’s base price will be the price per night for a listing, if no other tools are used to adjust it. You can set a weekday base price and a separate base price for weekends.
The base price will be shown in the calendar if it isn't adjusted by a higher-level tool.
When importing a listing from Airbnb, the listing's base price is pulled to Guesty.
Second layer: Calendar rates
The tools described in this section affect the price per night in the calendar. If you're not using any second-layer tools, the calendar rates will reflect the listing's base price.
When importing a listing from Airbnb, calendar prices are imported to Guesty and reflected in the calendar (similar to manual override via the calendar).
Manual adjustments via the calendar
You can use the calendar to manually adjust the price per night for specific dates without changing the default base price. The adjusted price will instantly be reflected in the calendar. Third-party tool adjustments to the price per night are considered manual adjustments via the calendar, as well. Thus, we recommend not to use manual adjustments and third-party tools together, as they may override one another.
Manual adjustments (and third-party tools adjustments) sync with Guesty PriceOptimizer and won't get overridden.
Higher-level tools, markups, markdowns, and discounts can all work with manual adjustments. These tools will apply “on top” of the second-layer tools.
Guesty PriceOptimizer
Guesty PriceOptimizer (GPO) is a data-driven, machine-learning tool that gives you recommendations for your listings' nightly rates based on different time period intervals. Our interactive software takes several details into account based on market trends to offer the best-suggested prices.
Ensure you make any adjustments to the price per night directly via the GPO settings.
Manual adjustments via the calendar (including adjustments via third-party pricing tools) will sync with GPO and won't get overridden by it.
When deactivating GPO, the price per night will be reverted to the base price.
Higher-level tools can be combined with GPO.
Third-party pricing tools
You can use third-party tools to adjust the pricing of a listing, and their adjustments will be reflected in the calendar. Third-party changes to the price per night are considered manual adjustments via the calendar. Thus, avoid using third-party pricing tools alongside manual adjustments, as they can override one another. GPO will sync third-party tools adjustments, and not override them.
If you disconnect with a third-party pricing tool partner, the nightly rates will not automatically change to the default base price, but keep its current values. Instead, You can manually adjust the nightly rate to the desired values.
Third layer: Markups and markdowns
You can use markups and markdowns to compensate for a booking channel commission fee.
Guesty automatically rounds up the price following a markup/markdown adjustment. For example, if the calculated accommodation fare is $79.20 after a markup is applied, it will be rounded to $80.
Note:
Weekly or monthly discounts are calculated based on the rounded price.
Fourth layer: Weekly and monthly discounts
Weekly and monthly discounts are set per listing and are synced with Airbnb, Vrbo, direct integration sources, and manual reservations. The discount is the last adjustment layer of the accommodation fare. The accommodation fare won’t be rounded following a discount.
Discounts are embedded in the accommodation fare.
