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Weekly Rates
Can you guide me as to what other Booking.com partners do to update their weekly rates and the best way forward for doing so? This is for a one-bedroom property and a 3-bedroom property - we would be grateful for any answers - thank you
Hi Kathleen
Its is not clear what you actually mean.
Have you actually created the Weekly Rate Plan itself?
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Kind Regards
We would like advice as to whether changing our rates in order to be competitive is a good way forward?
For example, our rates are as follows:
£110 a night for the one bedroom which comes to £770 for 7 days
and £190 a night for the three bedroom which comes to £1330
If we were to lower these rates so that when you book for 7 days you pay at the price of 5 days (£550 and £950) Is this something that would be worth doing?
Hi kathleen,
This is where first utilising the analytics section of the Extranet would be a good start to help advise on things such as general competition and selected other listings.
Its very subjective, so different minds will differ and approaches and how much to reduce by and still meet operating expenses for exmaple.
There are many tip s and tricks from , having one day of the week at the higher rate, to having Sun thru Tuesday, as the cheapest rate.
I cant see any listing in your partner profile, would be great if you could finish that please.
https://partner.booking.com/en-us/help/legal-security/how-do-i-remove-p…
Kind Regards,
Be Safe ,Be Well
Hi Kathleen Davenhall,
One of the best ways to improve your occupancy is to provide a discounted rate for longer stays at your property. Not only does this help you secure revenue, but long stays also simplify the reservation process on your end – less time spent checking guests in and out and carrying out cleaning and sanitisation.
If you do set up a Weekly or Monthly rate, it's not to say every single booking you receive will be on this but think of it like casting a fishing net out and seeing if you can 'catch' a longer stay. It may not be many bookings but at least you'll be very attractive for any longer stay searches if it works operationally for you.
Kind regards,
Shirley E.