How do all Revenue Management features work and how do I set them up?

Below is a complete guide explaining all key features inside Revenue Management along with step-by-step instructions to help you configure each tool easily.
This includes: Competitor Setup, Demand-Based Pricing, Rule-Based Pricing, Time-Based Pricing, Promotions, Coupon Code Offers, and Rate Templates.

1. Competitor Setup

Competitor Setup allows you to add or edit competitor hotels so the system can compare your pricing with similar properties in your market. This helps improve your demand-based and rule-based pricing accuracy.

Steps to Set It Up:

Log in to Your Stayflexi Dashboard:
- Use your username and password.
Open Revenue Management:
- Click the four-boxes (More Apps) icon.
- Select Revenue Management.
Open Competitor Setup:
- Click Competitor Setup on the left sidebar.
Add a Competitor:
- Click Add Competitor.
- Search the competitor on Google.
- Copy the competitor’s Google hotel profile link and paste it here.
- Click Save.
Edit your google profile and Remove Competitors:
- click on edit your google profile and do the changes
- Select the competitor and click on Remove

2. Demand-Based Pricing

Demand-Based Pricing uses AI to adjust your room prices based on market demand and your property’s star category. It automatically increases or decreases your prices depending on whether demand is low, moderate, high, or occupancy-based.

1. Open Revenue Management
Log in to your account → go to More Apps → select Revenue Management.

2. Open Dynamic Pricing
In the left menu, click Dynamic Pricing, then choose Demand-Based Pricing.

3. Add a New Configuration
Click Add New Configuration to begin.

Important Note: Before configuring demand-based pricing, make sure your room types and rate plans are properly set up. If they are not linked correctly, it may lead to rate mismatches. For example, the system may remind you to sync the base price of your Premium 1BHK with Balcony Garden View with the market demand before continuing.

4. Choose the Star Category and also enable the demand based configuration toggle
Select the hotel’s star rating (e.g., 3-star, 4-star, etc.).

5. Select the Demand Type
Pick the demand level you want to target:

Low Demand
Moderate Demand
High Demand
Occupancy-Based Demand

6. Set the Price Behavior
Choose whether the price should Increase or Decrease when this demand condition is met.

7. Enter the Adjustment Value
Add the amount or percentage you want to adjust
(e.g., +₹200, -₹150, +10%, etc.).

8. Save Your Configuration
Click Save to activate your demand-based pricing rule.

3. Rule-Based Pricing

Rule-Based Pricing lets you create your own custom pricing rules based on occupancy levels. You can increase or decrease the price depending on how full the hotel is and apply these rules to specific room categories.

Steps to Create a Rule:

Open Rule-Based Pricing:
- Revenue Management → Dynamic Pricing → Rule-Based Pricing.
Add or Edit a Rule:
- Click Add Rule OR edit an existing one.
Set Occupancy Ranges:
- Example:
  - 0–50% → Decrease price
  - 51–70% → Increase price
  - 71–100% → Increase price more
Choose Adjustment Type:
- Select fixed amount or percentage.
- Enter the value.
Select Room Types:
- Apply to all rooms or specific categories.
Choose Date Range:
- Select the period when the rule should apply.
Save the Rule:
- Click Save.
- You can also run the rule immediately.
Edit, Disable, or Delete:
- Select any rule to modify it, switch it off, or delete it permanently.

4. Time-Based Pricing (Time Slot Configuration)

Time-Based Pricing allows you to schedule when dynamic pricing should run.
Instead of applying rules continuously, Stayflexi will only update prices during specific times you choose (example: every morning at 9 AM).

Steps to Configure It:

Open Time Slot Configuration:
- Revenue Management → Dynamic Pricing → Time Slot Configuration.
Enable Time-Based Pricing:
- Toggle ON the Time Slot mode.
Add a Time Slot:
- Click Add Time Slot.
- Enter a time (example: 09:00 AM)
Save the Time Slot:
- Click Save.
Edit or Remove Slots:
- Click a slot to update or delete it.

5. Promotions

Promotions allow you to create special offers such as discounts or seasonal deals that automatically apply to selected dates and room types.

Steps to Create a Promotion:

Log in to Your Stayflexi Dashboard:
- Use your username and password to log in.
Go to Revenue Management:
- After logging in, click the four boxes icon (more apps) in the top right corner.
- A dropdown menu will appear.
- Select “Revenue Management” from the list.
Go to Promotions:
- On the left sidebar, click on “Promotions” (the 4th option) to view the promotions page.
Add a New Promotion:
- Click the “Add new promotion” button to start creating a new promotion.
Set Stay Duration Criteria
- In the section “How long do guests need to stay to get this promotion?”, enter the following:
  - Minimum number of nights required for guests to stay to qualify for the promotion.
  - Maximum number of nights guests can stay to qualify.
Set Room Booking Criteria
- In the section “How many rooms do guests need to book to get this promotion?”, input:
  - Minimum number of rooms guests need to book.
  - Maximum number of rooms guests can book.
Set the Discount Percentage
- In the section “How much of a discount do you want to give?”, enter the desired discount percentage.
Choose the Rate Plan
- From the dropdown in the “Which Rate?” section, select the rate plan that the discount applies to (e.g., EP).
Set the Date Range for Discounted Stays:
- Specify the date range for when guests can use the promotion
Select Days of the Week for Discount Availability:
- Choose the days of the week that the discounted rate will be available. You can select all days or specific days as needed.
Make Promotion Available Online
- Decide whether to make the promotion available online
  - Turn On the Toggle: Promotion will be available on the Stayflexi direct booking engine.
  - Turn Off the Toggle: Promotion will not be available for the Stayflexi booking engine.
Enter Promotion Name
- Provide a descriptive name for your promotion to help identify it easily
Save the Promotion
- Once you have entered all the details, review them carefully.
- Click the “Save” button to finalise and activate your promotion.

6. Coupon Code Offers

Coupon codes allow you to give guests special codes that apply a fixed or percentage discount during booking.

Log in to Your Stayflexi Dashboard:
- Use your username and password to log in.
Go to Revenue Management:
- After logging in, click the four boxes icon (more apps) in the top right corner
- A dropdown menu will appear.
- Select “Revenue Management” from the list
Go to Coupon/Offers:
- On the left sidebar, click on “Coupon Code / Offers” (the 5th option) to view the Coupon Code/ Offers page.
Add a Coupon/Offers:
- Click the “Add Coupon Code / Offers” button to start creating a new Coupon Code / Offers
Enter Coupon Code / Offer Name:
- Provide a descriptive name for your coupon code/offer to help identify it easily
Describe Coupon Code / Offer:
- Provide a brief description of your coupon code/ offer for better understanding
Choose the type
- From the dropdown in the “Choose type of your coupon code/offer” section, either of the following types:
  - OFFER
  - COUPON CODE
Set Room Booking Criteria
- In the section “How many rooms do guests need to book to get this coupon code or offer?”, input:
  - Minimum number of rooms guests need to book.
  - Maximum number of rooms guests can book.
Set Stay Duration Criteria
- In the section “How long do guests need to stay to get this coupon code or offer?”, enter the following:
  - Minimum number of nights required for guests to stay to qualify for the coupon code/ offer.
  - Maximum number of nights guests can stay to qualify.
Set the Discount
- In the section “How much of a discount do you want to give?”, enter the desired discount and select the type of discount (Percentage or Flat ) from the dropdown.
Set the Date Range for Discounted Stays
- In the “When can guests check in using the discounted rate?” section, specify the date range for when guests can use the Coupon code/offer.
Select Days of the Week for Discount Availability:
- Choose the days of the week that the discounted rate will be available. You can select all days or specific days as needed
Valid Booking Period:
- In the section “When can bookings be shown?”, select the date range during which the coupon code/offer is valid for bookings
Coupon Code/Offer Usage Limit:
- In the section “How many times can the coupon code/offer be used? (leave blank for no limit)”:
  - The coupon code or offer can be used as many times as you want unless a limit is set.
Save the Coupon code/ offer:
- Once you have entered all the details, review them carefully.
- Click the “Save” button to finalize and activate your Coupon code/ offer.

7. Rate Templates

Rate Templates let you store pre-set pricing for seasons like high season, low season, weekends, festivals, or events.
You can apply these templates to any date range with one click, saving time and ensuring pricing consistency.

How to Set Them Up?
- Set Up a Rate Template:
  - Log in to the Stayflexi Dashboard.
  - Click the four boxes icon (more apps) in the top right corner.
  - A dropdown will appear.
  - Select “Revenue Management” from the list.
  - Click on “Rate Template” (second option on the left sidebar).
  - Click “Add New Template.”
  - Fill in the required fields (template name, color, and description).
  - Define the start and end dates for the season by using the template calendar button in the top right corner of the Rate template page (refer to the above Images).

Did You Know?