During onboarding, room prices are broken down and allocated to individual room features on a basic level: Layout, Bedding and Size (please also see rate strategy in feature-based sales for more information). Setting up the prices in the Features section forms the basic framework for the further rate strategy.

 

As soon as a hotel is activated in GauVendi and rooms are sold directly and via the GauVendi IBE, functions such as automated pricing are also available in the GauVendi system. 

 

With the automated pricing function, ERFC prices (which have been activated for automated pricing) can also be automatically adjusted as soon as rooms from the respective RFC or ERFC cluster have been sold (more on automated pricing in a separate chapter). RFC prices are always calculated from the room characteristics..

 

  

In general, GauVendi enables the rate strategy to be set up via various functionalities.

 

Basic structure - setting up the feature prices

The existing rate structure is broken down to individual room features and the base prices are divided at the beginning according to layout, bedding and size. This forms the basis of the pricing. 

 

Additional pricing of further - now recorded - features/characteristics can be set up moderately or deposited with 0 Euro if the value of the feature is still unknown (e.g. no conclusions on the demand through guest feedback exist). 

 

The base prices are set up once under the Hotel Features section. Should it become apparent when checking the RFC price (other services such as breakfast or additional price points for single or double room occupancy are also included here) that a large proportion of the room prices do not correspond to the desired sales price, the base feature prices should be checked and adjusted until the prices correspond at least 75% or more to the base price. Further discrepancies can then be readjusted using the other features in the system.

 

So each room can get a different price point depending on the features included. Since we do not know at the beginning which feature has which value for which guest, it is important to compare the total room prices of the RFCs and ERFCs with each other and this corresponds to the perceived room positioning in relation to each other.

 

 

  

Feature Pricing - Change Feature Prices Daily (Layout, Bedding and Size as basic pillars).

To manually change the price on a daily basis (similar to the "Daily BAR" in category sales), features can be adjusted daily under the Rates section.  

 

For example, in addition to the basic rates that determine the majority of the room rate (Layout, Bedding and Size), you can also adjust features such as adjusting the balcony rate for a specific time or other features that are seasonal.

 

 

Flat rate increase/decrease of all room rates %.  

In order to adjust the overall price level at short notice depending on changing demand and occupancy, it is possible to change this percentage in the Rates area. To do this, simply select the period in which the price is to be adjusted as a percentage.  

Comment: The current function will be further developed and improved in the coming months.  

 

 

To show "round" prices, you can round up or down (or not round up) in the same area, price.

 

 

Adjust prices for single, double room occupancy for Room Feature Combinations (RFCs) and for Enhanced RFCs (ERFCs).

Some properties additionally adjust their prices by adding single or double room occupancy. This price point can be adjusted per RFC in the Room Feature Combinations section.

 

In addition, when rooms are creatively combined to form "new" combinations, it can happen that the base price is too low. The reason for this is often that other features are selected - or even fewer features than the features that would apply to the individual room or RFC. In this case, the prices can either be adjusted in the RFC Prices section (below), or also adjusted by the option of pricing according to occupancy for the 2nd person, 3rd person, etc.  

 

 


Adjustment of price points to RFC or ERFC level

A very good way to check whether the base prices are set up well as a basic structure (see first point above) is to check the final sales prices. It is also possible to check the prices according to single or double room occupancy as well as with or without inclusions (is breakfast included in the price or not, possibly also gala dinners on certain days such as New Year's Eve or other services that affect the price).


 

Recommendation: As far as possible, one should detach oneself from what price one "used to" receive for one room or another, since due to the feature-based sale, certain rooms may well receive a different "value" than before. 

 

However, the following points are important:

  • The lowest selling price should not be lower than the price one wants to sell for. 
  • Between the lowest and the highest selling price, the price spread should show many price points. 
  • High price jumps between the individual RFCs/ERFCs should be checked and, if necessary, supplemented with another ERFC. 

In principle, the following applies: smaller price jumps at lower utilisation/demand and higher price points at high utilisation/demand. However, thanks to feature-based sales, a harmonisation of price jumps can be achieved, which in category sales can only be achieved by using a revenue management tool. This function is already integrated in GauVendi.

 

 

If individual RFCs/ERFCs do not fit the price point, this can be adjusted directly by selecting the corresponding RFC and adjusting the price in the respective feature (recommendation layout, bedding and/or size).