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Brief Overview of Spot Rates (import/view/manage/push to VRBO)

Replies: 8 - Pages: 1 - Last Reply: Nov 2, 2019 6:03 PM by: Chris Hynes
Rich S
Registered: 12/28/18
Brief Overview of Spot Rates (import/view/manage/push to VRBO)

Since the good folks at OR added the ability to import Spot Rates (at exactly the time I needed it ;-)) I figured I'd write up a brief tutorial

Two methods for setting nightly rates
- Rates/Seasons - better when you are using predictable rates for periods
- Spot Rates - perfect for varying the rate every day. Can only have one spot rate for a given date

IMPORTING (to OwnerRez)
Navigate to Tools/ImportExport
- Import Rates/Seasons
- Import Spot Rates (can set the minimum reqd nights for each date!!)

EDITING (in OwnerRez)
Both kinds of rates can be viewed/filtered/cleared
- Settings/Spot Rates
- Settings/Season Rates

VIEWING (in OwnerRez)
Tools/Rate Checker
- offers a nice way to see all rates that exist inside OR

PUSH SPOT RATES TO VRBO
Settings/Channel Connections/VRBO/Actions/Push Rates
- Before clicking Push Rates, click on 'See details' and 'Set push options'

Why is this so valuable? Well, while it's pretty easy (and feels safe) to update nightly rates directly in VRBO, it can be cumbersome. And after you are done you have no record of what rates you have set. Come back in 4 weeks and you'll wonder why a given night is set to a given rate. Especially for minimum nights, it's very hard to see these settings within VRBO unless you click multiple times on each date. And next year you don't have an easy starting point of comparison for setting next season's rates.

Maintaining your own spreadsheet of rates is also very helpful if you are checking competitive rates from other people's VRBO's. For my case I have various 'competitors' and by comparing those individual owners along with a few management companies I find useful info about when they bump up rates for holidays, and how they vary min nights across them.

Maintaining a spreadsheet won't work for everyone since it requires a comfort level with Excel, but not really all that much.

In any case, thanks to the team at Owner Rez, I'm a very happy owner right now !!

Chris Hynes
Registered: 10/19/12
Re: Brief Overview of Spot Rates (import/view/manage/push to VRBO)

Awesome, thanks! Spreadsheet updates are cool because it's an easy way to set your own rules based on formulas.

Lydia B
Registered: 5/8/19
Re: Brief Overview of Spot Rates (import/view/manage/push to VRBO)

Hi, Rich! Sorry to bother you. Do you know: When you push rates to VRBO and ABB what actually gets pushed? The rates, obviously, but what about minimum nights and allowable check-in and check-out days? Also, as an example, if I have a 3 night minimum for April 1-14, then beginning April 15 I have a 5 night minimum for April 15-17, and in OR do not allow check-in/out on the 15th, 16th or 17th, what happens if guest rests a booking beginning on April 14? Will the 5 night minimum kick in since their stay gets into April 15-17? (These are just random dates for the example.)

Lydia B
Registered: 5/8/19
Re: Brief Overview of Spot Rates (import/view/manage/push to VRBO)

that last sentence should have been:

...what happens if guest on VRBO or ABB requests a booking beginning on April 14? Will the 5 night minimum kick in since their stay gets into April 15-17? (These are just random dates for the example.)

Chris Hynes
Registered: 10/19/12
Re: Brief Overview of Spot Rates (import/view/manage/push to VRBO)

When pushing rates via channel bridge, the rates and min nights will be pushed. Allowed check-in/out days won't be pushed.

If you're on an API connection like (HomeAway/TripAdvisor/booking.com/Airbnb) in API integrated mode, then we do push the allowed check-in/out days as well.

I believe that Airbnb and VRBO will use the longest minimum stay for a day in the period. I'd recommend double checking the logic once pushed because each site does things a little differently. Longest minimum makes sense, but some things like discounts are based on arrival day.

Rich S
Registered: 12/28/18
Re: Brief Overview of Spot Rates (import/view/manage/push to VRBO)

@Lydia B - I know that minimum nights do get pushed, and technically that means OR gives you the ability to assign a value (min nights) to each date, and then push that value to VRBO.

I've tested only with VRBO and that works.

As to how VRBO handles the min nights I'm not certain. I've read in forums people who complain that their algorithm is flawed, and that you can get into odd situations where your min night setting isn't observed. The example given was where only the min night reqt from the arrival night was honored, and where other (later) dates had min night settings that were violated. That seems to be what you're asking.

I don't know if that's possible, but I try to keep an eye on VRBO as my dates start filling in and I do micro-adjustments in VRBO that make sense. I suppose I could do that in OR too, but it's just so easy to tweak directly from the VRBO site so for little changes that's what I do.

In any case, once min nights are pushed by OR into VRBO, it's all about how VRBO handles things, so not really something OR can control.

Marcy B
Registered: 2/19/17
Re: Brief Overview of Spot Rates (import/view/manage/push to VRBO)

I cannot seem to figure this out, any help is appreciated. I have API integration. I want to change my rates for January so that if someone wants to book the whole month it is a set amount - let's say $50 a day for 30 days, so $1500 for the month. However, if they only want to book 3 days it would be $85 a day.

How do I do this? Right now I just have the daily rate set, when someone inquires about a month stay (as in a snowbird) through VRBO, it gives the a quote at $85 a night for 30 days which is way more than the monthly rate.

Also, when I make changes on the rates, how long does that take to reflect in VRBO.

I have someone right now inquiring for the monthly rate, so I did a spot rate for the month at $50 a day with a min of 30 days. But I do not see that it is updating in the quote VRBO gave them for the inquiry.

I have to be missing something.

Marcy

Chris Hynes
Registered: 10/19/12
Re: Brief Overview of Spot Rates (import/view/manage/push to VRBO)

VRBO no longer supports month rates -- instead they do length of stay discounts. Here's how to set that up: https://www.ownerreservations.com/support/articles/length-of-stay-discounts

When you're API connected, the updates will go over to VRBO within 15 minutes or so.

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