Pricing Management

Pricing Management enables you to review and, in some specific scenarios, override the pricing decisions from G3 RMS. Pricing is one of the three decisions made by the system. The other two are Overbooking and Last Room Value (LRV).

Heat Maps

The color-coded heat maps at the top of the Pricing Management page display pricing or demand data for multiple months. Use the heat maps for the following actions:

Select Occupancy Forecast The number of rooms (or percentage of the total number of rooms) that G3 RMS expects the property to achieve for the period. For the calculation, see the Demand and Wash - Overview topic (under Data Details). or Peak Demand Peak, or Total Demand, is the combination of the rooms on books and the remaining unconstrained demand. from the Calendar Heatmap menu on the left side of the heat maps to change your view from the Best Available Rates default view. If you select Best Available Rates, you can also choose to display the pricing decision by Room Class and, if applicable, by length of stay (LOS). If you select a different Room Class or LOS for the heat map, the data displayed in the calendar or table below also changes.
Point to a cell on a specific day on the heat map to see the pricing decision, Occupancy Forecast or Peak Demand data for that day, based on your selected view. Pricing decisions display for each room type of the selected Room Class.
Dates that have an LRA impact display in black. For more details, see information about the LRA Impact icon below, and Last Room Availability (LRA) Options.
Click a month in the heat map to change the start date in the calendar or tabular display shown below the heat maps.
View previous or succeeding months by clicking the left arrow or right arrow icon on either side of the heat maps.
Click the report icon in the lower right corner of a calendar month to download the Pricing or Data Extraction report for the selected month.
Click the Legend link on the right side of the heat maps to see the colors assigned to different Occupancy Forecast, Peak Demand, or BAR levels.

Calendar View

You can view data in the Calendar View or the Tabular View.

To switch to the Calendar View, click the Calendar View button . You can set up a default view in Preferences.

For each day, the two-month Pricing Management calendar displays the pricing decision, the Occupancy Forecast The number of rooms (or percentage of the total number of rooms) that G3 RMS expects the property to achieve for the period. For the calculation, see the Demand and Wash - Overview topic (under Data Details). (OF), the LRV Last Room Value (LRV) is a control that blocks lower-valued yieldable business when G3 RMS thinks that your property might sell out. LRV ensures that you accept only the most valuable demand. For example, an LRV of $150 means that guests can book a Flexible Rate product at $160, but not a discounted PrePay&Save product at $140. G3 RMS optimizes LRV by Room Class. decision and, if available, competitor pricing (Comp).

For an explanation of labels and icons on the Pricing Management page and in the details window, review Data in Pricing Management.

Changing the Dates

Click the month button to select the starting month that you want to monitor. View previous or succeeding months by clicking the left arrow or right arrow icon on either side of the month button.

Changing the Room Class

Select a Room Class from the menu on the left side to view the same Room Class for two months. Select a different Room Class from the menu on the right side to compare two Room Types side by side for the same month.

The pricing decision, LRV and, if available, competitor rate values display for the selected Room Class. The Occupancy Forecast (OF) is for the property level.

View BAR Value or BAR Name

Click to switch between viewing the BAR Value or the BAR Name.

Changing the Length of Stay

If your system is set up to price by length of stay for each arrival date (BAR by LOS), you can select the LOS of the pricing decision:

Select a LOS above the first month to view the decisions for the same length of stay for two months.
Select a different LOS above the second month to compare the decisions of two different lengths of stay side by side for the same month.

Regardless of your selection, LRV, Occupancy Forecast and, if available, competitor rate data in the calendar always display the value for LOS1. Only the pricing decision shows values for other lengths of stay.

Viewing Daily Details and Overrides

Click a calendar date to open a yellow window from which you can Enter Pricing Overrides or add a note explaining the reason for an override. Additionally, the window displays the number of Out of Order (OOO) rooms at the property level and provides links to pre-setup pricing reports, Pricing Management Details, and Competitor Details.

Tabular View

To switch to the Tabular View, click the Tabular View button . You can set up a default view in Preferences.

For each day, the table displays the same information as the calendar view, plus Occupancy on Books. For an explanation of all labels and icons, review Data in Pricing Management. If your system is set up to price by length of stay for each arrival date (BAR by LOS), pricing decisions display for all LOS for each arrival date.

Use the following options to change the information displayed in the table:

Select a different Room Class. The pricing decision, LRV and, if available, competitor rate values display in the table for the selected Room Class.
Click the Start Date or End Date buttons to change the dates displayed in the table and click Refresh.

Filters

The filters are useful if you are only concerned about specific dates or data conditions, for example, if you want to review dates when the highest (or lowest) pricing decision is active.

Click the filter icon to set filters for the displayed data, as needed:

Select one or more Days of Week to view certain days of the week in the calendars.
Select an option from the Dates with menu to see any of the following:
- BAR greater than / less than / equal to: Display days with a BAR decision greater than, equal to or less than the value you type in the text entry field.
- Occupancy Forecast less than / greater than: View only dates with an Occupancy Forecast Less Than or Greater Than a set percentage.
- Changes After: Select the Changes After option and a date and time (24-hour clock) to highlight dates on which a change in BAR rate occurred since the selected time. For example, you may want to view pricing changes after coming back from a week-long vacation. Green triangles or red triangles indicate BAR changes that have moved up or down.
Select a checkbox under Show to highlight only those dates in the calendar that have active overrides or other pricing conditions. For an explanation of the different icons, see Data Details below.
Under Show Values For, clear the checkbox for either Occupancy Forecast (OF) or Last Room Value (LRV) to remove them from calendar dates.

The filter criteria are saved when you click Apply. Click Reset to restore the filter selections.

Data Details

The following details and icons display on the Pricing Management page. They display in the calendar view, tabular view, or the details window that opens when a date is clicked in the calendar view.

Detail	Description
Day of Week	The day of the week that corresponds to the arrival date.
Rate Plan Name or Value	The Rate Plan selected as the pricing decision for the day. Click BAR Name or BAR Value to view either the Rate Plan name or the price. A No BAR Decision icon displays in place of the pricing decision if the Rate Plan was deleted and the system has not yet run an optimization. See Rate Plan setup for more information.
Comp	The rate for the default competitor and from the default channel (for example, the competitor with the median rate as reported by the Global Distribution System). Change your selection for the competitor in the Competitor Display settings and for the channel in Channel Settings. In the yellow details window, click the competitor rate to open Competitor Details.
Occupancy Forecast The number of rooms (or percentage of the total number of rooms) that G3 RMS expects the property to achieve for the period. For the calculation, see the Demand and Wash - Overview topic (under Data Details). (OF)	The constrained forecast of the occupancy that the property is expected to achieve for the specified period of time. This value is expressed either as a specific number of rooms or as a percentage of rooms.
Last Room Value (LRV)	Last Room Value For BAR by LOS properties, the calendar view displays the average of the displayed length of stay. For example, if you filter for LOS2, LRV is the average of LOS1 and LOS2. The calendar view always displays LRV for LOS1.
OOO	The number of Out of Order rooms at the property level.
Occupancy On Books	The number of rooms sold as of the current system date.

Icons

Icon	Description
	Click the details icon to open the Pricing Management Details window.
or	Click the notes icon to enter a new note or display any notes entered for the date. The icon with the check mark indicates a note has been saved for the date. The Updated On date and time information is recorded in the property time zone.
	Click the report icon to open a window from which you can download a Decision Pace Report or a Price Override History Report for the selected date.
	A No BAR Decision icon displays in place of the pricing decision if the Rate Plan was deleted and the system has not yet run an optimization. See Rate Plan setup for more information.
	Click the arrow icon to enter or modify a pricing override.
or	The BAR value has moved up or down. These icons display only if you select Changes After in Advanced Filters. In the yellow details window, point to the icon to see the BAR value before the selected time.
	A Specific Pricing Override exists for the date. See Types of Overrides for more information.
	A Floor Pricing Override exists for the date. See Types of Overrides for more information.
	A Ceiling Pricing Override exists for the date. See Types of Overrides for more information.
	A pricing override conflicts with your Price Strategy. For example, if you set a price strategy that BAR5 is not available for arrival on Wednesdays. But then you override a Wednesday to BAR5, so the icon displays for that date. When you add an override, G3 RMS also places a star (*) next to the name of any conflicting BAR price point to inform you of this conflict. Use the Show Overrides filter to find all dates with a conflict.
	An Arrival LOS type Demand Override exists for the date. See Overrides by Arrival by LOS for more information.
	An Occupancy Date type Demand Override exists for the date. See Overrides by Occupancy Date for more information.
	A Wash Override exists for the date. See Overrides by Occupancy Date for more information.
	Unsaved Changes. It means that you have applied or removed overrides, but not saved the change. If you click the calendar date where you applied an override, clicking the icon allows you to revert the override.
	Price Impacted Price is impacted by LRA (Last Room Availability) business or business that is expected to cancel and rebook (if your property uses a Cancel/Rebook percentage). LRA: G3 RMS detected demand for LRA business that will book if your BAR is available. The system is informing you that lower-value LRA demand might displace higher-value BAR demand. See LRA Options for more information. Cancel/Rebook: G3 RMS detected that some on-books reservations will cancel higher-value reservations to get a lower rate. The system is informing you that you could experience revenue loss. See Optimization Settings for more information.
	Price Restricted BAR has been restricted due to LRA (Last Room Availability) business or due to business that is expected to cancel and rebook (if your property uses a Cancel/Rebook percentage). LRA: G3 RMS detected demand for LRA business that would book if the BAR was available. The system sent controls that restrict both the availability of the BAR and LRA business for the impacted Room Class and LOS. See LRA Options for more information. Cancel/Rebook: G3 RMS detected that some on-books reservations would cancel higher-value reservations to get a lower rate if available. The system sent controls that restrict the availability of the BAR for the impacted Room Class and LOS to restrict this from happening.
	LRV Greater Than Price The pricing decision for an arrival date and Room Class is restricted due to LRV. The relationship between BAR pricing and LRV for the impacted day depends on whether you use BAR by Day or BAR by LOS pricing: BAR by LOS: BAR is restricted because G3 RMS went to the highest price point on the BAR pricing, and LRV is still higher. BAR by Day: BAR might be restricted on a day when the pricing decision is below LRV, as a result of stay-through demand. In BAR by Day pricing, the BAR decision for each day is used by both one-night stays and guests staying through that night. G3 RMS can select a BAR level that is below LRV for a single day to encourage more stay-through demand. For an example of these scenarios and more information about LRV, see Last Room Value (LRV).
	The name next to this icon shows the Master Class that you set up.