Note 1: Minimum Nights Restrictions are advanced features that control how long a booking you require on certain dates. These settings should be used with a knowledge of your market, and the kind of bookings you want to get. Please email email@example.com if you have any questions.
Note 2: These features are currently not available for Kigo.
Note 3: With Airbnb and Guesty, PriceLabs will overwrite the all minimum-nights settings you might already have in place for certain dates with what you have set on PriceLabs.
We're excited to announce the launch of a very important feature that many of you have asked for! With PriceLabs you can now setup rules for applying default Minimum-Night values, and apply special minimum night rules for last-minute bookings, for orphan-day bookings, and for far-out bookings. If this sounds interesting - read on!
The minimum stay options can be accessed from the "Edit Customizations" link when you review prices for a listing.
Once you enable the "Minimum Stay Update" option, a larger menu will open up.
Here's how you can use the 4 options available:
- Minimum Stay Update: This setting needs to be turned ON for any of the other minimum-stay options to work. Once you turn this on, the dropdown has 3 options:
- None: This implies that by default we won't apply a minimum stay for all listings. Any of the next 3 options can still be used.
- Fixed: You can choose a default min-stay to be set for weekdays and weekends. If the value in the first box is 2 (as an example), then we will apply a min-nights of 2 for all dates by default. If you also specify a value in the second box, then that will be used for the weekends.
- Booking Value: If the value in the box is 300 (currency same as that of the listing), then we will calculate a minimum stay for each date such that a booking with value less than 300 is not possible. As an example, if the prices for 5 consecutive dates between two bookings is (100, 100, 150, 200, 200), then the minimum nights for those dates will be (3,3,3,2,2).
- Minimum Stay for Last Minute Bookings: You can specify a minimum nights length and specify how many days out this should become active. In the image above, we have set the next 7 days to have a minimum 1 night rule - this can greatly increase the chances of getting last minute bookings which tend to be shorter in length.
- Minimum Stay for Far Out Bookings: You can specify a minimum nights length and how far out this should be active for. In the example above, we have set a minumum stay of 4 nights more than 180 days out. This is useful to try and fill up your calendar with longer bookings far out, and allowing regular 2 day min in the main booking window (depends on your location!)
- Minimum Stay for Orphan Bookings: You can specify that any of the above minimum nights rules be overridden if the default minimum nights rule is longer than an orphan gap in bookings. You get two kinds of options in the drop-down:
- Length of Gap: For any gap of length specified in the box (in the example above, gaps between 1 and 4 days), we will setup the min-stay to be the same as the length of the gap.
- Choose a number: If the value in the box is 1 (as in the example), then we will apply a min-nights of 1 for all days in gaps between 1 and 4 days.
Once the rules have been setup, you can hover over each date and see the minimum-stay setting. You can use the "Download CSV" link at the lower right corner to see all the settings at a glance.
You can also apply these settings for certain groups of listings or your entire account by setting these up on the Customization page (Navigation Bar: Dynamic Pricing >> Customizations). Any rules you apply here will be used for all the listings in the account. If you want certain listings not to have the default rule, you can apply a special setting for those listings individually as described above. A full description of the hierarchy is available here.
Like always, you can click on certain dates and override these custom settings except the orphan day min-stay setting. If you setup a custom 4 day min-stay for certain dates, and two bookings result in a 2 day gap, we will apply the orphan day setting to ensure that you are able to get a booking in that gap as well.
We hope you find these new features useful! Each market is unique in how long the bookings are, and how far out they come - do keep this in mind when using these settings to your advantage. Do email at firstname.lastname@example.org if you have any questions, or if you'd like to discuss more!