Hosthub's Rate Management allows you to sync your rates with some of the most important channels of the STR landscape such as Airbnb, Booking.com, Vrbo and Expedia (WordPress sites can be supported too, but for specific plugins only).
In addition to this, Hosthub's system also offers capabilities to set rate plans and manage exceptions, ensuring maximum flexibility and optimized earnings for property managers. The system dynamically adjusts prices to account for service fees specific to each channel, ensuring you receive a consistent payout regardless of the booking platform.
How To Set Your Default Rates for Rental/s
Setting up default rates for your rental/s is the first and most important part to start synchronizing your rates centrally to all compatible platforms.
Here are the steps you need to take in order to set up your default rates for rental/s:
Step 1: Set your base rates amd settings
Enter your base Weekday and Weekend rate.
Enter an extra fee per person more than _ (if you have one)
Enter your Minimum and Maximum Length of stay.
Step 2: Review Your Rates
Click 'Preview Updates' button.
Review the changes you see in the Preview page
Step 3: Publish your rates and sync them across compatible channels.
Once you have reviewed the preview page and confirmed that these changes should be sent to the channels, please click the 'Publish Rates' button. This will push your updated rates to all connected platforms, with automatic adjustments for channel-specific fees (e.g., 3% for Airbnb, 15% for Booking.com). If you prefer to send exact prices without automatic adjustments, you can disable this feature in Setup > Channels > Edit by setting the Channel Fee to 0.
The changes will be sent to the channels only after you hit ''Publish rates'' and only if the connections with the compatible channels are already activated. If Hosthub's automatic rate copying feature encounters an issue, you can manually set rates for your property:
Navigate to the Rate Management section.
Select the respective property for which you want to set rates.
Enter your rate settings and save the configuration. This ensures your pricing remains consistent even if the automated process encounters problems.
Understanding Rate Plans
Hosthub's rental pricing system is designed to help you optimize earnings by allowing flexible adjustments to rates and policies. In Hosthub, a 'Rate Plan Available' refers to the default rate plans you've set for your property. These rates determine your property's availability for booking. If no rates are set, it will be marked as 'Not available,' and bookings cannot proceed.
Hosthub allows users to override default rate plans for specific dates or periods through the 'Exceptions' section. This feature is particularly useful for high or low seasons by enabling unique pricing strategies. Additionally, configurations and rates set in Hosthub automatically override those on connected channels like Airbnb and Vrbo, ensuring consistency across platforms. Minimum stay exceptions are another powerful tool within Hosthub's system, allowing hosts to temporarily modify minimum stay requirements and related pricing rules for specific dates.
When adjustments are made in the 'Exceptions' section, they appear as updated rates on platforms like Airbnb or Booking.com without being flagged as discounts. This approach ensures transparent pricing while maintaining customer clarity.
Managing and Reverting Exceptions
Rate exceptions are unique configurations that override your default pricing settings for specific dates. These exceptions are particularly useful for events, seasonal pricing adjustments, or any special circumstances requiring unique rates. In Hosthub, exceptions allow you to deviate from your standard pricing model for designated periods without changing your base rate settings. Minimum stay exceptions, for instance, allow you to specify unique minimum night requirements for specific dates, offering greater granular control over booking policies.
Visual Indicators of Rate Exceptions
Understanding how exceptions are represented visually in Hosthub helps you identify and manage them effectively:
Red Numbers in the Calendar: Red numbers indicate exceptions that differ from default rates. These exceptions are typically synchronized from your connected accounts.
Red Asterisk and Square in the Exceptions Table: In the exceptions table, a red square with a red asterisk highlights dates with exceptions, marking deviations from the default rate configurations.
Red Prices in Calendar: Red prices specifically indicate minimum stay exceptions, with details available upon hovering over the date.
Managing Your Exceptions
To review or revert exceptions in Hosthub:
Navigate to your rate management calendar.
Click the View all exceptions link below the calendar to see a full list of dates with exceptions.
Locate the specific date you wish to modify or reset.
To revert to default rates, click "Revert to base." This removes the exception and applies your default rate settings.
To create or update an exception, add it directly in the exceptions calendar, specifying the unique rate details for the applicable dates.
For minimum stay exceptions, open the Exceptions Tab in the rate management calendar and locate dates marked with red prices. Hover over a marked date to view minimum stay requirements or use the Multicalendar for comprehensive insights.
Troubleshooting Rate Display Issues
If changes to your rates aren't reflected in the calendar:
Verify whether exceptions have been set for the affected dates.
Follow the steps above to adjust or remove exceptions, ensuring that the changes align with your intended pricing plan. Rate exceptions are a common reason for discrepancies between updated rates and their display on your calendar.
If discrepancies involve minimum stay settings, verify the adjustments in the exceptions calendar or Multicalendar. Ensure that pricing parameters remain consistent while modifying minimum stay requirements.