Cancellations- Changing the Minimum price?

[Louise231]

Ok so has anyone else had this problem or heard of it.

I get the odd cancellation, my policy is moderate, and they don't bother me, i've always been booked again by another person.

My problem is that after a guest cancels the pricing always seams to go really weird.

I have a minimum price for weekdays, and smart pricing is set but it can't go below the min price. (so basically I ignore smart pricing as it always want me to go lower). For weekends I charge a set base price, (usually it's more because most of the time two people book) but smart pricing is switched off, and weekend pricing is off becuase I charge a different amount for friday and saturday. (it's a two night stay min, but fri/sat is more expnsive than Sat/Sun)

But when a guest cancels all my pricing settings seam to go out the window. I've had guests cancel REALLY busy weekends (special event weekends where you can and should charge more so you don't get crazy guests) then the price showing is half what it was before, lower than the weekend price, lower than my smart pricing min price. and WAY lower than anyone else listing as all the cheaper places have long gone.

A few times i've noticed it (in the week or weekend) before somone books. But because the price is so low and i've got IB on, people see me pop up as available and super cheap and I can get booked a couple of hours after the cancellation, which is super awkward if someone cancels in the middle of the night, and i don't notice to check the price.

I've had a few times where i've been lucky, a new guest has booked but they booked because it's been cheap and didn't read the listing, then themselves cancel (one couple who wanted to check in 7 hours early, a lady who worked for an orchestra and wanted to practice violin) But with the 48 hour penalty free cancellation they were happy to try elsewhere and i could put the price bcak to normal.

But at some point i'm going to get stung and i'm not sure where to stop it from happening again? Ideas?

[Stephanie365]

Turn off Smart Pricing and manually set your pricing.  It doesn't take very long. I set the pricing for the entire rest of 2018 in about 10 minutes.  If I need to adjust up or down on given days because of circumstances, (local events, etc.) it takes a few seconds.

That way the price never changes unless YOU change it.

Smart pricing isn't smart at all.

[Louise231]

@Stephanie365but this is happening on days where smart pricing is already off.

I always have smart pricing off for the weekneds. I agree it's super quick to change, But when a person cancels a weekend booking this is still happening.

It's happening on days when smart pricing was already off, and on top of that it changes the price to below what my minimum price is, even if i had smart pricing turned on.

Even if cancelling randomly switched smart pricing back on (without my approval -which it shouldn't) the price shouldn't drop below what the smart pricing min is.

It's failing on both counts.

It's not like a get a tonne of cancellations but they do happen every now and again and this just keeps happening.

(also i feel like a need to clarify I leave smart pricing on for weekdays because for dates further away in the future it bumps the price up, and i'm fine with people booking early and paying more, but if no one books early it slowly goes down to the regular price)

[Clara116]

@Louise231I agree with @Stephanie365.....come on Louise do like many guests do not do. Read what Stephanie suggest. It is correct and the easiest and fastest way to go. You seem to be defending two systems and surprised that it doesn't work like you wish. As you will see on here many hosts say Smart pricing is not so smart. you ask for advice............and Stephanie has given it. That's why many have read but only one commented.......Just my 3 cents worth. happy hosting, Clara

[Louise231]

@Clara116ok clara perhaps maybe you need to take your own advice... Smart pricing is already off

Yet the problem didn't change. It happens with smart pricing off, it happens with smart pricing on.

[Stephanie365]

@Louise231 in your original post you wrote:

I have a minimum price for weekdays, and smart pricing is set but it can't go below the min price. (so basically I ignore smart pricing as it always want me to go lower). For weekends I charge a set base price, (usually it's more because most of the time two people book) but smart pricing is switched off, and weekend pricing is off becuase I charge a different amount for friday and saturday. (it's a two night stay min, but fri/sat is more expnsive than Sat/Sun)

Your first sentence says "...smart pricing is set..." I interpreted that to mean Smart Pricing is on.

Turn it off completely, as in don't use it AT ALL and set every single day manually, otherwise a cancellation will be a blank page and it will default to Smart Pricing.