This is how the events help you with pricing!
How can I weight events and use the slider?
You can use the demand impact slider to determine the expected impact of an event on demand and therefore on room rates. You can adjust the prices accordingly by moving the slider up or down. A higher demand effect generally leads to higher prices, while a lower demand effect can lead to lower prices. Please note that you can select an individual event at any time and adjust the price of individual days independently of each other.
To better understand how the weighting affects the prices here, here is the formula used:
New base price in the event + suggested price
__________________________________________________ = event price
2
You have probably noticed that you can organise the weighting differently for each day. Simply use the slider next to the days of the week.
Our slider is perfect for personalising the importance of events and, above all, allows individual days to be prioritised.
For most trade fairs or events, the first days and arrival days are the most important for dynamic prices.
Therefore, thanks to our slider, you can edit two days before and two days after the event so that you can optimally cover the corresponding demand patterns (higher prices at the beginning, lower prices on departure days).
The adjustments, which are based on the corresponding change in demand effect, are also displayed directly in the event overview next to the slider. You can therefore also enter an adjustment with a fixed amount and always see the resulting new base price directly next to it. This then helps the algorithm to adjust the actual demand of the day in the desired direction before the calculation of other factors such as booking speed, occupancy or others come into play. This means that the adjusted price is only the new basis on which the price suggestions or changes are made.