Getting Started Guide: Escapia Rates Manager

Use this step-by-step guide as a roadmap for learning Escapia’s new Rates Manager. You'll find out how to easily adjust global settings, incrementally build out your existing rates in the new Rates Manager, and push rates live in the new system.

Important note: The new Rates Manager is completely separate from your current rate system, which is still located under Units > Pricing Plans. All your existing rate rules will continue to work until you choose to go live with the new system. When you’re ready to make the switch to exclusively use the new Rates Manager, simply follow the instructions in Step 6 below in this guide!

You can now change global settings independently from rates. These global settings for minimum night stay, lead time, and check-in/checkout days will apply to all of your units.

How to do this:

• Navigate to: Rates > Global Rates Settings.
• Select your default value for minimum night stay by clicking the up and down arrows or typing in a new value.
• Select your default value for lead time by clicking the up and down arrows or typing in a new value.
• Select your default check-in and checkout days. Click a day to change its status.
• Click “Save Settings".

In the new Rates Manager, setting and changing rates is as easy as selecting one or more properties and using the rate editing drawer on the right-hand side of your screen. When you first access the Rates Manager, your rate grid will be blank as no rates have been set. It is completely up to you whether you want to start fresh or use your existing nightly rates to jumpstart the process.

How to do this:

• Navigate to the Rates Manager by either clicking the “Go to rates manager” button on the top right of the Global Rates Settings page or by navigating to: Rates > Rates Manager.
• Populate Your Rates (Optional): In the top right corner of the new Rates Manager, there is a “Populate rates” button. Click this button to learn more about the option to get started faster by populating the grid with your existing nightly rates; you can review this document for details on which rates will populate. If you choose not to leverage this option, proceed with the steps below to start from scratch.
• Select a property by clicking the checkbox to the left of the unit's name OR click the unit filters icon and filter by unit code or name to quickly narrow down the grid view so you can focus on a single property. 

• Once the edit drawer opens on the right, choose the dates of your desired time frame or period of demand on the calendar.

• Input a weekday rate and a weekend rate.

Note: Rates can be identical if you do not differentiate your rates by weekday/weekend.

• Click “Save.”
• View your new rates in the grid view for the associated calendar days.

Don’t stop now! Keep the momentum going and set rates for all 365 days.

How to do this:

• Select the same unit you selected in Step 2.
• Repeat Step 2 and input rates for the same property for each of your remaining time frames and/or periods of demand until you have at least one full year’s worth of rates set.  As you go, consider taking advantage of the optional settings outlined below, like overriding rates for high periods of demand or adding discounts for longer stays.
• Pro tip: Use one or both reports listed in the section below to help you determine your remaining periods of demand and your nightly rates for each of those periods.

Optional settings: Override rates, weekly/monthly discounts, and more

The right edit drawer contains several options to make it easier than ever to adjust rates on the fly, reward longer stays, and account for periods of high demand like events or holidays.

• Adjust by percentage: Use this feature to quickly increase or decrease set nightly rates by a percentage, such as during a period of high or low demand.
• Weekly discount: Attract longer stays by adding a discount for stays of 7 nights or more (get details here).
• Monthly discount: Attract longer stays by adding a discount for stays of 28 nights or more (get details here).
• Minimum night stay: Override your default minimum stay set in global rate settings.
• Check-in & checkout days: Override your default check-in and checkout days set in global rate settings. 
• Check-in & checkout days: Override your default check-in and checkout days set in global rate setting. 

Right drawer options:

check in and check out override in action:

To review your settings at a high level, you can leverage the view options in the top right of your rates grid: 

For the “Check-in/checkout days” view, the icon visuals are as follows: 

• No icon: Check-in or checkout is not permitted on this date. 
• Icon with green arrow on left side: Only check-in is permitted. 
• Icon with blue arrow on right side: Only checkout is permitted. 
• Icon with green and blue arrows: Both check-in and checkout is permitted. 

Helpful Tools for Setting Rates

The Rates Manager includes a built-in Market Rates view, plus there are several reports in Escapia that can help you set your rates in the new Rates Manager. While these reports do not yet integrate with the data in the new Rates Manager, the data may be useful to view if you are unsure of your nightly rates and various periods of demand.  

1. Market Rates View

Fueled by billions of data points from the Vrbo marketplace, Market Rates make it easier than ever for you to competitively set your rates (get details here).

How to do this:

• Select “Market rates” in the view dropdown at the top right of the Rates Manager. 
• Scroll through the rate grid to view data-based rate opportunities. 
• Input suggested Market Rates by selecting at least one property and using the set by weekday and weekend option in the right edit drawer. 

How to do this:

2. Seasons Period Report

This report is useful to get a list of time periods you can use as a guide to help you with Step 2 and beyond.

• Navigate to: Units > Reports > Rates and Seasons > Seasons Period Report.
• Select a period year and status.
• Click “View Report” to get a list of time periods you can use as a guide to help you with Step 2 and beyond.

3. Season Rate Summary By Unit Report

This report is useful to view rate details (nightly, weekly, monthly, weekend and weekday rates) for a specific unit across all time periods.

How to do this:

• Navigate to: Units > Reports > Rates and Seasons > Season Rate Summary By Unit.
• Select unit.
• Click “View Report” to see rate details for a specific unit in a specific time period.

You’re on a roll! Now that you’ve successfully set up one unit, simply repeat the process for additional units.

Pro tip: Even if properties are not identical, start by setting the same rates for like properties, then keep an eye on occupancy rates and adjust by using the percent increase/decrease feature as needed.

How to do this:

• Open unit filters and select a filter, such as bedrooms, that include properties that you tend to price similarly.
• Select all or just a portion of those properties.
• Repeat steps above to adjust rates.

After setting rates for at least one year for all your properties, as well as the accompanying rate settings, you are almost  ready to use the new rates and settings for all your channels. But first, let’s double check that your new rates are being applied by spot-checking a couple properties using the Verify Pricing tool.

How to do this: 

• Navigate to: Units > Verify Pricing.
• Change the Pricing Plan to “Rates Manager Pricing”
• Enter Booking Criteria that correspond to your new rates and rate settings.

Note: Consider using the “Ignore Rate Settings” checkbox option to quickly see nightly rates for every night, regardless of your minimum night stay (more details here). 

• Click the Test button.
• If what you have entered meets the criteria entered in the new Rates Manager, you will see a table that breaks out the rate your guests and reservationists will receive.

Once you’ve completed the steps above, you’re ready to push your rates live and begin exclusively using the new Rates Manager — exciting!

How to do this: 

• Review this checklist to double-check that all steps are complete.
• Navigate to: Reservations > Setup > Reservations.
• Change the pricing strategy to use the Rates Manager Pricing Engine.
• Click “Save.”
• Sit back, relax, and in just minutes your new rates will be automatically pushed live to your website and Vrbo.

Note: Other channels may take longer to begin using your new rates as they pull rates from Escapia at designated time intervals.

Once you go live with your rates in the new Rates Manager, you will no longer be able to use the old rates system. You will manage your rates exclusively in the new system for a faster, simpler rates-setting experience!

Additional Resources

• See a full walkthrough of the new system in our getting started video here.
• Get answers to top FAQ’s and more on our Rates Manager resource page.
• Still stuck? Contact us at CSM@escapia.com for help.