Overview: Dynamic Pricing

Time Period Group (TPG) - (formerly called Season Type in Legacy Dynamic Pricing)

A Time Period Group (season type) is a collection of Time Periods that share the same pricing rules. Only one Time Period Group can be assigned to a product, but a Time Period Group can have many Time Periods assigned to it. All Time Periods within a specific Time Period Group are assigned to the product when the product is assigned to the corresponding TPG. Examples of Time Periods that could be applied to the TPG EARLY FALL: September/October Weekend, September/October Weekday.

Time Period (formerly called Season in Legacy Dynamic Pricing)

A Time Period (season) is assigned to a Time Period Groups (TPG). A Time Period (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. Examples of a Time Period might be Early Fall, or Pre Season. Only one Time Period Group can be assigned to a product, but a Time Period Group can have many Time Periods assigned to it. 

Days to Arrival (formerly called Override Windows in Legacy Dynamic Pricing)

Rewarding a customer a discount for purchasing in advance starts with defining DAYS TO ARRIVAL window. Specifically, the value reflects how many days in advance the customer is booking from the start date of that trip. Common Days to Arrival Windows (formerly called override windows) 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

Max Price (Formerly known as Base Price or Old Price)

The Max Price represents the “Window” or “Rack Rate” of a product. It's used to calculate the percentage discount for any online price and is required to display the savings compared to the window rate. Max Prices can be displayed alongside the online prices crossed out in the cart notice and product detail page (PDP). Showing a crossed-out price helps guests see the savings they’re getting by purchasing online.

For dynamically priced products, the term Base Price is used interchangeably with Max Price in the Admin. The base price should be the first price set in the Pricing Calendar and is reflected in the variants list. When defining the base price, avoid applying tiers.

For non-dynamically priced products, the term Old Price is used synonymously with Max Price in the Admin. This price also represents a maximum amount for the product that would be charged at the window.

Levels (formerly called Tiers in Legacy Dynamic Pricing)

A Level (tier) is defined as a pricing tier 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. Levels should be generated in the order in which they are to be consumed, as the priority is set at creation. Use the description field to distinguish between tiers. Priority 1 ties are consumed first. 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