So how can you make the most out of this new websites markup function?
Please note - these are just examples and your commissions may vary from these. Please check with your channel to find out the actual commission.
The first question would be what your basic rate needs to be. The basic rate is the one you set when you create a new listing on a channel so it can be used to fill up the calendar. If you are planning to have higher rates during the summer season and lower during winter time for example. It is better to use a rate that is just a bit below the middle. So if your lowest rate would be $50,- and the highest $150 a base rate or $80 -$90 would be nice to use.
In Hostaway you have multiple channels that can use automated markups. Including a markup for your own direct booking website. Depending on what type of account your use at Hostaway you can use the markup to let your guests pay for your Hostaway vacation rental software in in a couple of easy steps.
To access the channels markups you go to your Settings - Listing mapping page.
The green "on" buttons indicate that the listing is connected and mapped to one of the channels.
When you click on one of the "on" channels it will show you your markup settings.
How to use the markups Example: you currently earn a $100 a night for classic apartment in Paris on Airbnb.
Your new channels Booking.com cost 15%, 9Flats cost 12%, Innclusive cost 10% and the Hostaway rental software cost you 1%.
In your markup window for this listing you can now add for example 17% (15+2%) for Booking.com, 15% (12+2) for 9flats, 12% (10+2) for Innclusive and 2% for your Hostaway website bookings.
When you have set this up in your markup settings you can start using it by your Hostaway calendar.
In this example we show the individual calendar view but you can also use the multi view for this. Click on one day in the calendar and on the right side of the screen you will see a menu opening up for this day.
Here you can now add a new base rate for this day and you see that the channel automatically show you the new rates for the other channels.
In this example it sends $116, $112, $110 to Booking.com because in Booking.com there are 3 different rate categories. It sends $111,- to Innclusive as there is only one rate category for this listing there. It sends $100 to Airbnb and it is using $101,- on your personal website. When you save this it will take a couple of minutes before all channels are updated with the new rate.
In this way it is updated for only 1 day but you can select multiple days, weeks, months or even years if you like to update all days at once.
You can use it in many different ways. For example you upload $100 for the month may and upload $130 for August. In both cases the markup will include the % you have set per channel and update the channels accordingly.
If you set it up this way there are less risks renting out your place at a to low rate. Due to the fact you add the 2% commission from Hostaway to the rate automatically you keep your current netto rate and have your guests pay for the software without a huge change to your prices.
After you have made changes to the markup it is always a good thing to check your rates on the channels to make sure it is syncing correctly. Automatic rate sync only works with API channels for the iCal channels you still need to set it manually per channel.