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2019

Spot Rates

OwnerRez offers a powerful, flexible dynamic rate system using Seasons and Seasonal Rates, discussed in our Rate Engine Bible.  However, because of its flexibility, it's also pretty complicated and can require a good deal of time and testing to get right.

To get around this complexity, we offer another way to set rates: Spot Rates.  The Spot Rate system is as simple as the Seasons and Seasonal Rates are complex: It's a simple calendar, where you just type in the rate for each individual night for each property.

Rate Calendar

The primary interface to Spot Rates is the Rate Calendar, found in the Tools menu.  It offers a calendar showing existing rates for a property, or 0 if there aren't any.  Select which property you want to work with from the dropdown list.

To create a spot rate, simply click on a date, or click-and-drag to select a date range.  Then click the "Set Rate" button to bring up a window where you can enter and set the rate for the date(s) selected.  You can also clear Spot Rates for the selected date(s) by clicking the "Clear Rates" button.

Spot Rates list

What does using the Rate Calendar actually do?  It creates entries in the Spot Rates table, one for each date for each property set.  You can see this complete list under Settings > Spot Rates.  Note that, since each individual night/property combination gets its own entry, there can be hundreds or thousands of entries in this table.  It's usually best to use the Filter button to narrow down the results by property and/or date range.

Importing Spot Rates

While the Rate Calendar offers a convenient way to view and edit Spot Rates, it can be time-consuming if you have many properties.  OwnerRez offers several different ways to import and set Spot Rates:

  • If you are using PriceLabs to dynamically set rates, these rates appear in OwnerRez as Spot Rates.  PriceLabs will come in and alter the Spot Rate entries following its own algorithm, overwriting any changes you may make to them.
  • Channel Bridge can import Spot Rates that have been set in HomeAway/VRBO or Airbnb, using the "Import from Channel" button at the top of the main Spot Rates list screen.  This function will import all Spot Rates found in the channel, which can go out as far as two years.
  • You can also prepare a list of Spot Rates in Excel using our template, and import that to OwnerRez.

Notes:

  • There can only ever be one spot rate for any given date/property combination.  Therefore, any changes that are made to a date/property Spot Rate by any of the various methods to set Spot Rates, will override any previously set Spot Rate for that same date/property.

  • Spot Rates always override any Seasonal Rates that might otherwise be applicable.