Get more long-stay bookings with weekly and monthly rate plans
Highlight: With weekly and monthly rates you can make the most of the increased demand we’re seeing for longer stays. This is also an opportunity to expand your reach to more audiences such as business travellers, families and domestic travellers looking to stay longer.
One of the best ways to increase 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 reduce reservation hassle on your end: less time spent checking guests in and out and simpler cleaning and sanitising jobs.
What are long stays?
We consider reservations ‘long stays’ when they meet or exceed seven nights. These fall under two categories:
- Weekly rates: these require a minimum stay of seven nights
- Monthly rates: these require a minimum stay of 28 nights
Note: You can decide which cancellation policy applies to these rates based on the existing policies you’ve set up for your property.
How do I set up weekly and monthly rates?
You can set up both weekly and monthly rates by following these steps:
- Log in to the extranet
- Click on ‘Rates & Availability’ and then select ‘Rate Plans’
- Click ‘Add new rate plan’ at the top left corner of the page
- Choose the ‘weekly’ or ‘monthly’ rate plan (if you want to set up both, you can repeat this process once for each rate plan)
- On the next page, you’ll be asked to set up:
- Your preferred cancellation policy
- A meal plan (if applicable)
- The minimum advance reservation time
- How you want to manage the rate plan (if applicable)
- The discount you’ll be offering
- Which units or rooms the new rate applies to
- Give your rate plan a name and then click ‘Review’.
- Click on ‘Activate rate plan’ to complete the set-up
Why add weekly and monthly rate plans?
We recommend that you take these rates into consideration when building your revenue management strategy. Implementing them can offer you benefits when it comes to:
- Reaching more guests with attractive long-stay rates
- Securing future revenue
- Reducing operational work
1. Is it possible to implement weekly and/or monthly rates in bulk?
Not yet. But we’re working on this functionality in order to allow partners with multiple properties to implement both the weekly and monthly rates in bulk in the extranet. This should be available in September 2020.
2. How will connected properties be able to implement weekly and/or monthly rates?
This depends on the pricing model you use to manage your property’s rates and availability on our platform.
- If you’re already using our LOS (length of stay) pricing model to send us LOS-based prices via your Connectivity provider, you can continue as usual. Just make sure you send us discounted prices for longer stays (i.e. for seven nights or longer) so travellers can see these when they search on our platform.
- If you use your channel manager or property management system to set up rates directly on our channel, you can create new weekly and monthly rate plans by using minimum length of stay restrictions (seven nights for weekly rates and 28 nights for monthly rates). These rates will be automatically added and mapped to your extranet.
- If you don’t use our LOS pricing model or you can’t directly create rate plans from your channel manager or property management system, you can still set up these long-stay rates in the extranet. These rates will only be shown to travellers on our platform and not on your other distribution channels. The weekly rate will be created as a new, discounted version of a pre-existing rate plan already managed via your Connectivity provider. You can do the same with your monthly rate, or you can create an entirely new monthly rate. In either case, you should always map these rates back to your channel manager to avoid potential discrepancies in prices or reservations.
3. How will weekly and monthly rates work with other discounts and promotions?
The weekly and monthly rates plans will be combined the same way other rate plans are. This means that other discounts (e.g. Genius) and promotions will be added on top of the weekly and/or monthly rates.
4. Can I set up a seasonal weekly and/or monthly rate?
Yes. As with other rate plans, you can choose the dates on which the rate applies in your calendar on the extranet.
5. Will the weekly and/or monthly rate be created as a new rate plan or based on an existing rate plan?
Weekly rates will be based on an existing rate plan and cannot (yet) be set up as a new rate plan. However, monthly rates can be set up as either a new rate plan or based on an existing rate plan.
6. What’s the difference between creating a new rate plan and creating a version of an existing rate plan?
- The monthly rate can be created as a new rate plan or based on an existing rate plan. To set this up as a new rate, change your prices independently and send them to us through your Connectivity provider (if you’re working with one).
- The weekly rate can only be set up as a version of an existing rate plan. Restrictions on length of stay, minimum advanced reservation time, as well as opening and closing the rate can be done independently of your Connectivity provider.
7. Can I customise my weekly and/or monthly rate?
Yes. You can customise the cancellation policy, the meal plans you wish to include, the dates on which the rate is bookable, the discount you wish to give and which units or rooms the rate plan applies to.
If your weekly/monthly rate plan is a discounted version of one of your pre-existing rate plans, then your new weekly/monthly rate plan will automatically be open for bookings on the same dates as your pre-existing rate plan.
8. Are we extending the maximum number of nights a guest can book at one property?
We’re currently running a pilot programme in select cities where we’ve extended the maximum length of stay beyond 30 nights. Outside of this pilot, however, the global maximum length of stay will remain 30 nights for the moment.
9. How will the weekly and/or monthly rate be shown to travellers on Booking.com?
When you set up discounted weekly and/or monthly rates, your property becomes easier to find for travellers searching for longer stays. This targeted approach means that you’ll be reaching more guests with attractive rates.
10. What if I still have questions about the weekly and/or monthly rates?
You can learn more about this topic in the Partner Community (available only in English and Italian), where you can ask questions and swap knowledge with other partners. You can also reach out to your account manager or our Customer Service team for more information.
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