📌 This article answers the following questions:
- What is a pricing plan in elloha?
- What are the different types of pricing plans (standard, special offer, promotion)?
- How can I increase my chances of getting bookings by adjusting my rates?
- What’s the difference between a standard plan, a special offer and a promotion?
Why is this important?
There isn’t just one type of guest. This is a basic principle of revenuemanagement.
That’s why each type of guest will be looking for different rates (with or without half-board, as a ‘family package’, as a promotion, including linen hire, or even last-minute deals, etc. The possibilities are endless.
Put simply, a pricing plan is tailored to specific types of guest. By simply increasing the number of your pricing plans, you also simply increase your chances of securing bookings, as your offers will appeal to several types of guest at once!
1 – What your customers will see
Here’s what your guests will see when they visit your booking engine and you’ve set up multiple pricing plans:
Firstly, the guest will see the offers you’re providing for the selected dates:
The offers, along with their names, so they can quickly identify each accommodation option or service on offer.
Their capacities, to help the customer check that the offer meets their needs.
The start of the description gives an overview of the atmosphere, facilities or specific features of the accommodation, to help them visualise their stay.
The ‘from’ price shows the lowest rate available for the selected period, giving the customer an initial idea of the budget required.
Once an offer has been selected, the customer can view the details of the rates available for their stay. Each rate is presented with the essential information to help them make their choice:
The name of the pricing plan identifies the type of offer available, for example a standard price (which could also be called the “basic price”) or a special offer.
The total price of the stay is clearly displayed, so the amount to be paid is immediately apparent.
The payment terms specify whether full or partial payment is required at the time of booking.
The cancellation terms indicate whether the offer is changeable or refundable, which reassures the customer when making their decision.
An availability indicator may also appear to show the number of places remaining, creating a sense of urgency.
Finally, the ‘Add to basket’ button allows the customer to select the rate and proceed to the next stage of the booking.
Finally, the customer can view the various special offers and promotions available for the selected dates. For each offer, the interface allows the customer to see immediately:
The benefit or service included (e.g. breakfast included).
A price comparison with the standard rate (for promotions).
The total cost of the stay.
The payment terms (e.g. 100% payment upon booking).
The cancellation policy (e.g. offer cancellable free of charge).
You have the option to offer one or more promotions for the same dates, each with different terms and conditions (regarding payment and cancellation).
Put simply, by offering several different options, I can reach several different audiences and therefore increase my chances of securing bookings.
2 – Key points to remember
In order for your accommodation to be sold, it must include at least one Standard Price Plan: this is therefore the basis of your elloha account, enabling you to activate your first bookings! See how to create your first Standard Plan
You can create a Special Offer based on this initial “Standard” plan by adding, for example, “breakfast”, “late check-out” or “a bottle of champagne on arrival”: these “Special Offers” will likely be subject to different pricing and cancellation terms. See how to create a special offer.
But you can also turn your Standard Rate Plan or one of your Special Offers into a Promotion: this plan takes all the settings from its “reference price” and applies a discount (as a percentage or in €) based on what you’ve specified. See how to create a Promotion.