Overview: V1 Legacy Dynamic Pricing
- Sarah Holst
- Jenni Buonanni
- Marty Niessen
This feature is supported for: All versions of Aspenware Commerce using RTP|One for POS.
This feature is not supported for: Non-date based products or Siriusware POS users.
Key Terms
Season
A season is a collection of dates that share the same pricing rules. A season creates a “template” of dates from which an administrator can apply pricing rules across a set of dates.
Season Type
Seasons can be assigned to a Season Type to create a collection of seasons. Only one season type can be assigned to a product, but a season type can have many seasons assigned to it. All seasons within a season type are assigned to the product when the product is assigned to the corresponding Season Type.
Override Windows
This date window is based on the customer's days to arrival, meaning how many days in advance the customer is booking from the start date of that trip. Common override window examples include:
48 hours+ pricing - resorts often charge a lower rate to guests who are not last minute bookers.
Within 48 hours - resorts often charge the window rate or a slightly lower rate than what they would pay at the window.
30+ days - resorts may offer a larger discount if a guest books farther in advance
etc
Base Price
This price is never charged online, but is available as a behind the scenes override window for every dynamically priced product. Base price is synonymous with window rate pricing. It can be used to load “window rates” online and then is used to display the savings a guest recieves through buying online compared to purchasing at the window.
Tiers
A tier is defined as a price level in which there are defined quantities for a set price. Once that set price has sold out, the next tier (often with a higher price) will take into effect. For example:
Tier 1 - $50 - 5 tickets available for purchase
Tier 2 - $60 - 10 tickets available for purchase
Tier 3 - $70 - 10 tickets available for purchase
Tier 4 - $80 - Unlimited tickets available for purchase
Feature Description
The Dynamic Pricing feature within Aspenware Commerce enables resorts to utilize date-based pricing so that flexible prices can be set based on current market demands. Resorts are able to change prices based on date windows that take advantage of high volume days of the week, holidays, or weekends.
The following types of products can be set up for dynamic pricing:
Products where price changes depending on the reservation date (e.g. during a certain season, a product is sold at a higher price).
Products that are not available every day of the season but do not use inventory pools to narrow available dates.
Products that you wish to display the pricing calendar in order to display how much inventory is left throughout the season.
Products that you wish to charge more on more popular dates, using tiers.
Products that offer discounted pricing to guests who book further in advance and then charge higher rates to “last-minute bookers,” using override windows.
Display options
Resorts have the option to display a large interactive calendar where guests can select different attributes such as Age, Number of Days, etc that will change the values displayed on the calendar. Based on the configuration in Aspenware, guests can see:
The number of tickets left at a specific tier
The % savings off the window rate (configured as “base price” within dynamic pricing)
The price for available dates
Available inventory if configured
When a date is sold out
