Independent Products

For all clients, G3 RMS optimizes pricing for the Primary Priced ProductClosed Main pricing decision that G3 RMS optimizes. Usually this is the lowest non-restricted product with flexible cancellation policy that anyone can book. The default name is Best Available Rate (BAR), but you can change it in Pricing Configuration.. With a subscription, G3 RMS can optimize pricing for other products whose demand is completely independent from the Primary Priced Product or from Linked Products.

An extended-stay hotel has a product for stays of 15 days or longer, called LOS15, for which there is consistent demand throughout the year. For two days in a month, the demand (green bars) and price (blue line) of the the primary priced product is very high, due to a citywide event. If the LOS15 rate is set up as a Linked Product, G3 RMS considers its demand as related to the primary priced product and might price the LOS15 product too high (red line) to capture demand.

But if the LOS15 product is set up as an Independent Product, G3 RMS creates a separate Forecast Group for it and can better understand its demand and therefore price it optimally.

Setup and Management Steps

With Independent Products, there are some differences in setup and in how you manage demand and pricing:

Market Segments Configuration

By assigning the Equal to and Base Product attribute to a rate code or market segment you define the business that G3 RMS uses to price the primary productClosed Main pricing decision that G3 RMS optimizes. Usually this is the lowest non-restricted product with flexible cancellation policy that anyone can book. The default name is Best Available Rate (BAR), but you can change it in Pricing Configuration.. For each independent product, you also need to define the business that the system uses to price it. To do that you can change the Equal to Base Product attribute to apply to the independent product instead of BAR. The same applies to the Linked to attribute.

When you select a new Independent Product as the Base Product, G3 RMS forces you to name the product using the same name as in your selling systemClosed Any distribution system, like a PMS, CRS or a Channel Manager, that is used to sell your transient guest room inventory. Ideally, G3 RMS sends all controls to your selling systems, but this may vary based on their capabilities. For some integrations, the selling systems may not include the reservation system that provides with data..

Pricing Configuration

The setup for an independent product includes the steps for the primary product: Definition, Ceiling/Floor, Offsets, and, if needed, Supplements. The Base Room Types are the same ones as for the primary product. If needed, you can:

  • Create separate Rounding Rules for each independent product.
  • Define a Price Change Range when you want the price of an independent product to stay the same.
  • Set a minimum difference between independent products in Hierarchy.

Rate Shopping Configuration

For each Independent Product, you can set a different default channel, use the data of different competitors, and, if needed, create different Competitive Market Position Constraints.

Permissions

Control access to Independent Products in Role Management.

Demand and Wash Management

View and, if needed, override the demand for independent products.

Note: when you use independent products, you can override demand for any product only by Occupancy Date, not by LOS.

Pricing

You can view and, if needed, override pricing of independent products. If you subscribe to competitor data for independent products, you can view that data too.

Monitoring

At a Glance

When you select a date on the Calendar, the daily details display the pricing for the primary product and for all independent products.

Business Analysis

In the Summary tab a filter allows you to view pricing related data for any of your Independent products instead of the primary product.

Reports

In the Data Extraction, Decision Pace, Output Override, Pricing Override History, and Pricing reports, you can select to view the data for independent products.

Notifications

You can set up Notifications for independent products, for example, when pricing changes by a certain threshold.

Data Feed

With a subscription, the Data Feed includes data of independent products, for example, pricing overrides or configuration.