Pricing Configuration

Use Pricing Configuration to share your price strategy with G3 RMS and to ensure the system picks an appropriate price. For example, define the price range from which G3 RMS chooses the price for the primary priced product 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..

Based on your subscription, you also define the pricing strategy for other products, like linked, group, or independent products.

What Help Do You Need with Setting Up Pricing?

I want an overview of the steps to set up pricing and how to share my pricing strategy with G3 RMS.
I want to understand how G3 RMS uses my pricing setup when it calculates the Final Price.
I need to complete or review pricing setup:

I need to define the Base Room Types for which G3 RMS optimizes pricing for each Room Class.
I have a Room Class with a fixed price. I need to ensure that G3 RMS doesn't price that Room Class.
I need to ensure that the system follows our rules about how pricing values end. See Rounding Rules.
I need to define the price range from which the system picks the price of the primary priced product. See Ceiling/Floor.
I need to define how G3 RMS prices non-base room types and other occupancy types, like extra adult. See Offsets.
I need to set up products that are linked to the primary priced product (or to other products). See linked products.
I need to set up products that automate pricing for groups that don't require profit and displacement evaluations. See group products.
I need to set up products that are priced independently from the primary priced product. See independent products.
I'm in a country with Tax-Inclusive Pricing Tax-inclusive pricing applies in countries where quoted and booked prices have to include taxes like a Value-Added Tax (VAT) or Goods and Services Tax (GST). If you are not in a country with tax-inclusive pricing, taxes are added to pricing only at the point of payment. In G3 RMS, tax-inclusive pricing is enabled and configured in Property Specific Configuration. and enter all pricing values inclusive of tax. Give me an overview of entering and display of tax.
Our pricing includes non-room supplements, like breakfast. I need to define these supplements.

I want to understand why a lower ranked room type is priced higher than a higher ranked room type. See Price Ranking.

How to Share Your Pricing Strategy with G3 RMS

View this video or review the description of the process below.

1) Follow this process to share your pricing strategy

Note that the order in the setup process differs from the order in which G3 RMS calculates the Final Price.

The key step that defines your pricing strategy is setting the Ceiling and Floor values. These values define the price range that G3 RMS uses to choose the Optimal Price. But the Optimal Price is a “raw” price, not ready for guests, so use other setup, like rounding rules, to produce the Final Price that your guests see.

After G3 RMS produces decisions, you can check your pricing strategy. Review the Highest and Lowest prices on the Summary tab of the Business Analysis Dashboard. Or, export to Excel to review pricing and Offsets on a spreadsheet. This is useful if you have many Room Classes and seasons.

2) If needed, share your pricing strategy for linked, group, and independent products

With a subscription, G3 RMS can manage the pricing of linked products, like Advance Purchase, group products, like third party group bookings, and independent products, like long-stay pricing.

Setup Steps

Click , then Decisions, and then Pricing.
Click Advanced Settings to review or set up Base Room Types and Rounding Rules.
Click to review or set up the Ceiling/Floor, Offsets and, if needed, Supplements of the Primary Priced product.
Click to add Linked Products, Group Products, or Independent Products.
If needed, define the Advanced Settings . For example, Package Elements for linked products.
For independent products, click to set up the Ceiling/Floor, Offsets and, if needed, Supplements.
Click to edit, copy , or delete products. For more details, review all the setup steps for linked products or group products. If a product is centrally managed by your company, you can only view it.
If needed, use the arrows to change the display order of your products.

Data Details

The details vary based on your subscription, for example, if you have linked products.

Column	Description
	Click the add icon to create a new product. For more details, see how to define a product.
Display Order	Use the arrows to change the display order of the products in G3 RMS.This is useful if you have many products and want your most frequently used products to display at the top, for example, when you select a product to override pricing. .
Product Name	The name for the product from the Definition tab, for example, Best Available Rate. G3 RMS sends linked and group products to the selling system by the product's name, not for each rate code within the product. indicates an optimized linked product for which the system selects the optimal price. indicates a linked product for which you define the pricing. indicates an independently priced product. indicates a group product.
Description	The product's optional description.
Product Type	Primary Priced: describes the product that G3 RMS prices independently. The default name is Best Available Rate (BAR) but you can change it. Linked Product - Optimized: with a subscription, this applies to products that are linked to the Primary Priced product and for which G3 RMS optimizes pricing, as set up in the Definition tab. Linked Product: with a subscription, this applies to products that are linked to the Primary Priced product and for which you define the pricing, as set up in Defaults and, if needed, Seasons. Independently Priced: with a subscription, this applies to products other than the primary priced that G3 RMS prices independently. Group Product: with a subscription, this applies to products that automate pricing for groups.
Active	The Primary Priced product does not show this setting because it is active and uploading by default. To activate a product, select the Active checkbox. G3 RMS calculates pricing for Active products and considers their value in the optimization. If it's Active and an optimized linked, group, or independently priced product, the system calculates the price. Because G3 RMS considers only active products in the optimization, forecasts and decisions might change each time you activate and deactivate a product. See the example for Better Optimization Results. By default, products are not active. Your subscription controls the number of products that you can set to Active. Invalid Products A warning icon displays in the Active column for invalid products. Products are invalid when their setup is incomplete. Point to the icon to see the reason, then review and update that product's setup. Some examples of actions that invalidate products are: deleting the product's Base Product, deleting one of its packages, or changing market segment attributes for the rate codes associated with the product. Deactivating Products Deactivate a product by clearing the Active checkbox. If you deactivate a product that is the Base Product for other products, they also become inactive.
Upload	The Primary Priced product does not show this setting because it is active and uploading by default. For other products, select the Upload checkbox to send the prices for a product to your selling system. Pricing is sent by product name, not for each rate code in the product. If you select the Active checkbox and do not select the Upload checkbox, G3 RMS considers the product in the optimization and creates pricing decisions. But it doesn't send the decisions. Your subscription controls the number of products that you can upload. Typically, selling systems can only accept up to 10 products. Contact your IDeaS representative to ensure that the selling systems are set up to receive uploads. When a product becomes invalid, G3 RMS clears the Upload checkbox and no longer sends the product's prices. Review and correct the product's setup before you reselect the Upload checkbox. How to Minimize the Amount of Uploads The selling system might struggle with a large volume of uploads and likely charge you for them. Therefore, don't select Upload for products that you price the same as another product. For example, you have a linked product for Advanced Purchase, ADV. You have a separate rate code for Advanced Purchase sold on Booking.com, ADVBCOM, which has the same price as ADV. In this case, upload only ADV and set up ADVBCOM at the same price as ADV in your selling system. Your selling system knows how to price both rate codes but charges you only for the upload of one.
Centrally Managed	Select Centrally Managed for products that you manage at the corporate level for all properties. In Role Management, assign permissions for who can configure and, under Manage Pricing, who can override Centrally Managed products. If you never allow overrides for a product, clear the Allow Overrides checkbox on the Definition tab for the product. It means that users can't override the product even if they have the permissions.
View, Edit, Copy or Delete a Product	Click the details icon to view the product configuration tabs. Click to edit a product. See the Definition tab. If you edit the Definition values for a Base Product, the products that are priced off that Base Product become invalid and inactive. Click the copy icon to copy a product. If you copy a product, you must assign rate codes to the copied product on the Definition tab, because each rate code can be associated only with one product. Click the delete icon to delete the product. If you delete a product that is the Base Product for other products, those other products become invalid.

Final Price Calculations

View the work flows below to understand how G3 RMS uses your pricing setup to calculate the Final Price based on the Optimal Price.

Note:

The Optimal Price also considers any Minimum Price Differential that you set up as part of your Rooms setup. To learn about Optimal Price calculation, review How G3 RMS Determines Pricing.
For properties with Supplements, G3 RMS removes the supplement value from Ceiling/Floor values before it calculates Optimal Price.

Pricing Configuration

What Help Do You Need with Setting Up Pricing?

How to Share Your Pricing Strategy with G3 RMS

1) Follow this process to share your pricing strategy

2) If needed, share your pricing strategy for linked, group, and independent products

Setup Steps

Data Details

Invalid Products

Deactivating Products

How to Minimize the Amount of Uploads

Final Price Calculations

Base Room Type (Single Occupancy)

Double Occupancy

Room Type 2, same Room Class (Single Occupancy)

Double Occupancy

Extra Adult

Base Room Type (2 Adult Occupancy)

1 Adult Occupancy

3 Adult Occupancy

Room Type 2, same Room Class (2 Adult Occupancy)

1 Adult Occupancy

Extra Adult