Overview
The Rankbreeze Dynamic Pricing Engine is a powerful tool designed to automate and optimize your pricing strategy. With a fully customizable rule-based system, you can set and stack pricing rules to create a dynamic pricing strategy tailored specifically to your business. This next-generation revenue management tool gives you full control over your pricing strategy. By leveraging strategic pricing rules, you can maintain competitiveness across different markets and seasons.
Why It Matters
The Dynamic Pricing Engine simplifies revenue management by automating price adjustments based on the custom rules you define. It instantly syncs these updates with your Property Management System (PMS), allowing for real-time pricing updates that align with your strategy. Key benefits include:
Instant Setup – The Pricing Wizard makes it easy to get started quickly.
Flexible Custom Pricing Rules – Stack multiple rules for precise control over pricing.
Automated Rule-Based Pricing Adjustments – Dynamically update prices based on your pre-set conditions such as time, occupancy, and/or gaps.
Seasonal Optimization – Create tailored pricing strategies for peak, low, and shoulder seasons.
With Rankbreeze’s Dynamic Pricing Engine, you maintain full control over your pricing strategy while benefiting from seamless automation—ensuring efficiency and consistency without the need for constant manual updates.
Prerequisite
To push your prices from Rankbreeze, you must be integrated with one of our Property Management System (PMS) partners, and your PMS listing must be connected to your Rankbreeze listing. Follow the applicable guide below to complete this step:
Step-by-Step Walkthrough
Step 1: Set up your Basic Rules
On the "My Properties" page, click the listing's "Pricing" button and use the Pricing Wizard to set up your basic rules for pricing & availability.
Your basic pricing rules serve as the foundation upon which your advanced pricing rules are built.
Completing the Pricing Wizard does not automatically push updates to your PMS.
Step 2: Define your Pricing Goals/Strategy
Determine your objectives. For example:
Maximize revenue from early bookings
Fill gaps with last-minute discounts
Step 3: Create your Advanced Pricing Rules
Click on the "Advanced" tab.
Customize your pricing strategy with one or more of these advanced rule types:
Time Based Rules
Automatically adjust your prices for early and/or last minute bookers by
Increasing rates for early bookers to maximize revenue.
Discounting unbooked upcoming dates to boost occupancy.
Occupancy Based Rules
Automatically increase prices as your listing gets booked.
Gap Night Rules
Set rules to adjust prices and fill specific gaps in the listing's calendar. Increase or decrease rates for any day, weekends, or weekdays.
Step 4: Create your Advanced Minimum Night Rules
Click on the "Advanced" tab.
Customize your minimum night requirements using one or more of these advanced rule types.
Time Based Rules
Automatically adjust your minimum night requirements manage your calendar for early planners and last minute guests, maximizing your occupancy and revenue.
Occupancy Based Rules
Automatically increase prices as your listing gets booked.
Gap Night Rules
Strategically adjust your minimum night requirements to increase flexibility and fill calendar gaps, reducing unbookable nights and maximizing revenue.
Step 5: Sync to PMS
After setting up your prices, enable the 'Sync to PMS' toggle to automatically push updates to your PMS daily.
If your property is in a seasonal market, create a new set of basic and advanced rules for each season.
Pro Tips
Create Seasons: If you are in a seasonal market, create customized basic and advanced rules to match your strategy for each season.
For Seasons, time based rules apply when the current date is within the season.
Customize Single Dates: Adjust the base price, minimum night requirements and/or restrictions for special dates (e.g., Christmas, New Year's) by selecting the date in the calendar and modifying the values.
When you enable advanced pricing rules, the customized base price will become the minimum price for that day.
Customize Multiple Dates: Click and drag to select multiple dates, then customize their base price, minimum night requirements and/or restrictions in one go.
Tool Tips: Hover over calendar icons to view insights on the settings for each available date.
