Introduction to price in FlatsWire
Principals of pricing in FlatsWire
FlatsWire team will help you to define your “Source” price (that depends on your business model). It can be :
– Owner price : you signed agreements with your owners, commiting to pay a preset rent, depending on the season and the visitors length of stay. Your manager price results from owner price by adding services and a management fee to this price.
– Manager Price : you give priority to your management price. In your owner contract, you commit to pay him at your management price, reduced by the cost of your services and your management margin (15% for example). You can then sell your inventory at a price integrating a distribution margin (on top of manager price) on your website and on portals.
– Agency Price : You give priority to your own distribution price (your website). Deducting commissions and service prices from your agency price (adapted to season and length), we will calculate the owner price (and if necessary a management intermadiate price).
To make the creation of a new property in the system more simple and to make a rate and pricing logic, FlatsWire pricing system is based on models.
Setting of your properties prices can be done in 5 steps :With the help of our team,
1. Understand your business model. We will define
– your pricing model (hence what is your source price),
– your services, taxes and fees,
2. We will build models with you :
– degressivity model (source price variation rules depending on the length of the stay),
– seasonnality model (source price variation rules depending on the seasons),
– pricing models (how to automatically calculate owner price, manager price, customer price),
– Payment modes (how you split deposit and balance and when you expect each payment),
3. You will create your properties using upper models to generate your pricing (adjusting the night price to each property).
4. You will set rules for Yield Management.
5. You will set rules to push prices towards the connected portals.
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