Pricing information is a key aspect of your property profile and is essential for your property to be listed on your chosen channels. Channels recommend having a minimum of 24 months of future pricing available. Having this in place means your property will show up in many more search results.
Here is an overview of how to add pricing information for your property and how to amend existing pricing.
Our pricing model
TravelNest uses a nightly pricing model. This means each night of the week needs to have a price added. We also use pricing periods. These are specific date ranges where set pricing is applied, e.g. from 1st January to 31st January - price per night is £100. Together, nightly pricing and pricing periods give you control over your pricing as well as the flexibility to amend the price for any night, at any time.
When you first add a property to TravelNest, our pricing generator tool enables you to set up 15 months of pricing with minimal effort. All you need to do is input the following information for your property:
- Minimum night stay
- Price per night
- Arrival and departure days
We offer advice, based on market insights, to help you choose an appropriate standard price per night and minimum night stay for your property.
Next, select the seasonality option that best suits your needs from the dropdown list. We currently offer 4 different seasonality options:
Flat rate seasonality: Pricing is consistent throughout the year. This is a good option if you want to maintain the same pricing for your property year-round.
Quarterly Seasonality: Pricing is split into different rates for spring (March, April, May), high summer (June, July, August) and low autumn and winter (September, October, November, December, January, February). This option suits those with a peak summer season and reduced winter season.
Gradual Seasonality: Similar to Quarterly Seasonality but with a more gradual increase and decrease in pricing across the year. This is a popular option if you have year-round bookings and high demand in the summer months.
Summer Peak Seasonality: This option provides a flat rate throughout the year but with an increased rate during peak summer (June, July, August) only. This option suits those looking for consistent pricing throughout the year with a peak summer season only.
Below is an example of how the Gradual Seasonality pricing option works.
If you don’t find a seasonality option that fits your needs, simply select the one that's closest to what you are looking for. You can opt to skip this step and manually enter your pricing at a later date. However, please note that pricing information is essential. Not including pricing means your property profile will remain incomplete and your property cannot be listed on your chosen channels or receive any bookings.
If you have not added any pricing, you’ll see a ‘pricing is incomplete’ flag highlighting this on the property edit page. If any other areas of your property profile are missing key information - you’ll also see relevant flags on the property edit page as shown below.
If a property has less than 6 months of future pricing remaining, you’ll see a notification to add at least another 6 months. We recommend having a minimum of 18 months of future pricing available at all times.
To update your pricing, simply visit the pricing section in the property profile. All of your current pricing periods will be shown in list format. Select the period you wish to edit, and update the pricing accordingly.
If you want to increase your weekend pricing in August, for example, simply select the existing pricing period containing the dates you wish to change. Change the pricing to a higher rate for Friday, Saturday and Sunday. Remember to save any changes by selecting save changes at the top right-hand side of your screen.
If you need to change your pricing for a specific duration where you already have a full month of pricing in place (e.g. Easter or bank holiday weekends), this is done by editing the existing pricing period for the month. Simply change the end date to the day before the uplift period. Then add a new pricing period to cover the dates on which pricing is uplifted. Then add a final pricing period to take the price back down following the uplift period to the end of the month in question. Below is an example of how pricing looks before and after a new pricing period has been added to cover the Easter weekend.
If you need to add a brand new pricing period, select ‘new period’. Give your new pricing period a name, then select the start and end dates using the calendar pop up. You’ll also need to include arrival and departure days, the minimum number of nights a guest can stay, pricing currency (choose from pounds, euros, and dollars) and the price for each night.
Remember to save your changes at the top right-hand side of the screen.
Full week discounts
If you want to provide guests with a discount for booking a seven-night stay within a specific pricing period, you can also do this within the pricing section. Under Full Week Discount at the bottom of the page, you can enter a percentage discount to be applied to seven-night stays.
Optimising your pricing
There are lots of ways you can optimise your pricing throughout the year to increase revenue. Check out our guide on How to pricing your property competitively to attract bookings for expert tips on how to do this.
If you need help
If you need any assistance with adding pricing to your property our team is on hand to help:
+44 333 6666 111 (option 3)
You can also contact us via live chat.