Yield management functionality can be found in Rates >> Hostelworld Agent >> Daily Rates.
Alternatively, you can reach the page via Today >> Calendar View >> Price View >> Hostelworld Agent
Yield Management must be set up day by day per each room type, so just click on any box to open the popup.
At the top of the popup you can see your Current Sell Rate (with the NRR value if in use), the date to which it applies, how many beds you currently have available on Hostelworld for that date, and how many beds you have already sold on Hostelworld.
To set up Yield Management prices, select Yield Management in the drop down menu:
A grid will appear where you can set up the new rates you wish to sell on Hostelworld and the number of beds you wish to sell at that rate.
By clicking on “Add New” you can add 2 further tiers, so you will have 4 rates available per day (3 tiers + standard rate), each of them with a minimum number of beds to sell:
Once the Yield Management Prices are saved, the system will start selling your beds at the rate you have setup in your top tier. Please note this rate will apply to all your available beds, because the system can only sell one rate at a time.
As soon as you sell all or more beds allocated to your current rate, the system will automatically increase the price of all your remaining beds to the next tier:
Once all your tiers are sold out, the remaining beds will be sold at the standard rate.
Good to know:
Bear in mind that you might sell more or less than the set beds at the requested rate. This is because the beds you allocate to each rate are a sales threshold, not a specific number of beds –for example, if you set your first tier at 4 beds, the price will switch to the next tier when you have sold 4 beds at the current rate, but also if you sell 5 beds, 6 beds etc in one booking.
The Price View page will always show your current sell rate. A three line symbol will show you the dates for which you have setup Yield Management rates. By hovering your mouse over each box you will be able to see a summary of your set prices and beds
If the number of “Beds sold” is more than 0, these beds will need to be included in one of the tiers you are setting up. Otherwise, if you are setting up a tier including the same number of beds that were sold, that tier will display the message “sold out”.