How to Set Room Prices

ThinkReservations allows you to configure pricing for the next six years. Each rate type contains a price and restrictions for each room, every day. Follow the six steps below to set your pricing for each rate type. 

We recommend that you review the next 90 days of pricing and restrictions on a weekly basis for just a few minutes to see if any manual changes need to be made.

  1. Click settings in the black bar in the top right.
  2. Click Rate Types on the left.
  3. Click on the rate type that you wish to edit. Changes made to the rate type's Rates & Restrictions tab will apply to this rate and any rate types which are derived from it. Other base rates in your account that are not derived will need to be updated manually.
  4. Make sure that you have the box checked next to the rooms that belong in this rate type.
  5. Click the Rates & Restrictions tab at the top. Here you will see a version of the calendar where you can enter new pricing or edit the pricing currently set. Each block or cell is a room-date pair where you can set the appropriate rate. This is also where you program restrictions, such as your Minimum nights.
  6. Edit the prices on the Calendar to set them as you wish. A double dash means no pricing is set, and not bookable for this rate type for those dates. See below for more help on how to best do that.

Editing the number on the Edit Rate Type Calendar.

There are three ways to configure your pricing:

Option 1 - Direct Edit - small changes

Click directly on the price you want to change. The cell will turn blue. Simply type the new rate to update the cell.

Option 2 - Highlight, then Modify - faster small changes, larger changes
Click multiple cells that you want to change by clicking and dragging. Holding down the Ctrl key allows you to select cells that are not next to each other and holding down the Shift key will connect two selections. If you messed up, you can click Clear Selection and start again, or use Shift and/or Ctrl to deselect one or more cells.
Verify you have selected the desired blocks visually on the Calendar. They will be highlighted in a light blue, similar to how the weekends are highlighted. You can also see exactly how many blocks are selected just above the Calendar.

Then continue with the Modify button to modify your new selection to set your prices.

Option 3 - Begin with Modify button - bulk changes

  1. Click the Modify... button. The Modify tool lets you first select dates and rooms, then modify that selection. This is the easiest option for setting bulk prices and restrictions.
  2. Select the Date range, Days of the week, and Room Types you would like to adjust.
    In the popup, modify the following:
    • DATE RANGE: select the date range you would like to update. 
    • ROOM TYPES: mark the rooms that you wish to modify.
    • DAYS OF THE WEEK: the "Weekdays" and "Weekends" buttons easily change the selection.
    • SELECT:  click select to make adjustments
  3. Click Select.
  4. Once you click Select, you are taken to the second page in the popup. Click on No change and choose Set to from the dropdown.
  5. Enter the price for the selection you made in Step 2.
  6. Click Update and check your work before you save.
     

The Modify tool allows you to make multiple changes at once if the Rates & Restrictions toggle is set to Summary. Decide what changes to make and click Update once complete. Seven restrictions can be configured, although typically a business will only configure a subset of these:

  • Price: Prices are required. If the price is not configured, the room-rate type combination will not be bookable by either the internal reservation calendar or external booking engine. To lower the price, enter a negative value with "Adjust by percentage" or "Adjust by dollar."
    Related: Setting Rates
  • Minimum nights on arrival: If a customer is arriving on a date that has minimum nights on arrival set, they must meet the minimum nights indicated. If reservations have been made that make the minimum nights infeasible, then the minimum nights will automatically be adjusted. For example, if Friday has minimum nights on arrival set to 2, then someone who tries to book a room on Friday must stay at least two nights. If Saturday is already reserved, then the minimum night on arrival for Friday will automatically adjust to 1.
  • Minimum nights through: If a customer is staying on a date that has minimum nights through set, they must meet the minimum nights indicated. If reservations have been made that make the minimum nights infeasible, then the minimum nights will automatically be adjusted. For example, if Friday has minimum nights through set to 3, then someone who tries to stay Thursday and Friday must stay at least one more night. If Wednesday and Saturday are already reserved, then the minimum night through for Friday will automatically adjust to 2.
    Related: Setting your minimum nights
    Related: Minimum Nights on Arrival vs. Minimum Nights Through
  • Maximum nights on arrival: A customer arriving on a date that has maximum nights on arrival set must stay no more than the maximum nights indicated.
  • Maximum nights through: A customer staying on a date that has maximum nights on arrival set must stay no more than the maximum nights indicated.
  • Closed on arrival: XA: Customers cannot check-in on a date that is closed on arrival. Guests can still stay through this day, but not arrive on days you have this set.
  • Closed on departure: XD: Customers cannot check-out on a date that is closed on departure. Guests can still stay through this day, but they cannot check out on days you have this set.


Note: By setting the price to be completely blank (not $0) in one or more blocks, you are marking that room as unavailable. You can also use the Modify tool to set the price to "Set to STOP SELL." This is how you turn "off" a block.


Important final step. Once you are done, please check your work and then click the Save button at the bottom right. Once you save, there is no undo.
Complete for each rate type you need to modify. Rate types are not linked to one another if the Pricing selection in the rate type is "Set rates and restrictions manually."

Related: Copy Your Work from One Rate Type to Another.


 

S
Sean is the author of this solution article.

Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.