Get more long-stay bookings with weekly and monthly rate plans

Updated 1 week ago

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 travelers, families, and domestic travelers who are 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 operational hassle on your end: Less time spent checking guests in and out, plus simpler cleaning and sanitizing jobs.

What are long stays?

We consider reservations “long stays” when they’re seven nights or more. These fall under two categories

  • Weekly rates: These require a minimum stay of 7 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 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:

  1. Log in to the Extranet.
  2. Click Rates & Availability, then selectRate Plans
  3. Click Add new rate plan at the top-left corner of the page
  4. Choose a weekly or monthly rate plan (if you want to set up both, you can repeat this process once for each rate plan)
  5. 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
  1. Give your rate plan a name, then click Review.
  2. Click Activate rate plan to complete the set-up

Add your weekly or monthly rate plans here

Why add weekly and monthly rate plans?

We recommend considering these rates 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 

FAQ

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 on the Extranet. This should be available in September 2020.

2. How will connected properties be able to implement weekly and/or monthly rates?

It depends on what 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 7 nights or longer) so travelers 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 (7 nights for weekly rates and 28 nights for monthly rates). These rates will be automatically added and mapped to the 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 long-stay rates on the Extranet. These rates will only be shown to travelers on our platform but 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 which dates the rate applies to in your calendar on the Extranet.

5. Will the weekly and/or monthly rate be created as a new rate plan or be based on an existing rate plan?

These rates will be based on an existing rate plan and can’t be set up as a new rate plan yet. 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 a version of an existing 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 customize my weekly and/or monthly rate?

Yes. You can customize the cancellation policy, the meal plans to include, the dates when the rate is bookable, the discount to offer, 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 program in select cities where we’ve extended the maximum length of stay beyond 30 nights. Beyond this pilot, however, the global maximum length of stay will remain 30 nights for the time being.

9. How will the weekly and/or monthly rate be shown to travelers on Booking.com?

When you set up discounted weekly and/or monthly rates, your property becomes easier to find for travelers 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 (only available 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 info.

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