General Configuration

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General Configuration - Wiseprice

Note that Wise Price is only available to Multi Room Properties. For SRPs, the Lastminute functionality is available and is much more appropriate.

I got the idea for this plugin while watching Hotel Inspector. In that show the Inspector was berating the hotel owner for being inflexible with his pricing, and demonstrated how some of the major players in the game varied their prices almost on a daily basis. From that, the idea of wise price was born.

The general idea behind Wiseprice is simple:

If there are N number of rooms booked under a certain percentage of the total rooms available, and the arrival date is within N days, then calculate a discount off the base price of the room.

This is linked to the room types so for example if you have both Single and Double rooms available and few Single rooms are booked but many Double rooms booked then and a site visitor is trying to book a Single room, then a greater discount for the single room will be offered than if a Double room is being booked.

Wiseprice has several options. Beyond the usual "Activate" option you also have a threashold (the maximum number of days from "today" where this plugin can come into play (so for example the default settting in the plugin is 60 days, so the arrival date must be within 60 days from "today" before this plugin will be used to recalculate prices).

You then have some hardcoded options. I did play around with the idea of making this option more extensive, like allowing you to choose which room types the discount applies to but realised that they would just make it more complicated and that property managers might have trouble understanding where some of their prices were coming from.

You can choose the level of discount to offer if there are only 10%, 25%, 50% or 75% of rooms booked. The default discounts then are 30%,20%,10% or 5% respectively however these are figures that I've picked out of the air to make testing easy, you'll need to research your own preferred discounts.