Setting up Prices and Rates

Setting up Prices and Rates

Price is an important variable in the tourism market. Many tour operators out in the market are selling the same tour as yours and price play an important role while distinguishing between them. Therefore, setting up your prices and rates for your tour package is equally important if compared with other details you display.


Before you start

Here are some things to know before you begin this process.

  • The first step while setting up the price is to decide the exact cost that you would like to incur. Vacation Labs allows you to display two types of pricing (i.e the Actual Cost and the Advertised cost)
  • The Actual cost is the price that the customer will pay while making the booking.
  • The Advertised cost is the price that you would like to show on the tour details page to attract customer. For example, if the cost is 500, 1000, 1500 Rs for Child, Adult, Participant respectively, then you can advertise the price as Starting from 500 Rs on your tour details pageThis has higher chances that the customer will proceed to checkout.


The below article will help you configure different prices and rates for your tour and several advanced options available in the Prices & Rates section.

Accessing Prices & Rates:

Please follow the below steps to set Pricing for the tour,

  1. Click on the Products tab.

  2. Choose the Tour for which the Prices & Rates needs to set.
  3. Click on the Prices & Rates tab.



Please Note: This section allows you to configure pricing for a simple adult, child, participant, etc to complex pricing similar to a trip having multiple variants.


Setting up Prices & Rates:


Create basic pricing:

This is helpful if you have a simple pricing based model. You can choose standard participant type from the drop-down or specify a custom participant type. You can give a name to the custom participant type (Eg. Navy veteran) and enter a description for that type. ( Eg. Ex-servicemen from the Indian navy) You will also have an option of booking slots for a participant type. (Eg. A couple will occupy 2 slots).
Please follow the below steps to create a basic pricing structure,
  1. Click on the Pick a participant type drop-down.
  2. You can easily use the predefined pax types (e.g Adults, Child, Group, Infant, Senior, Student, Couple, Family of 3/4/5, Custom pax type) from the drop-down.
  3. Every Pax type has 3 fields i.e Name, Description, Rate
    Here’s an overview of each Field,
    Name:
    This allows you to enter a required label for your pax type. Eg. Adult, Participant, Student, etc
    Description:
    This field allows you to enter a brief description of the pax type. Eg. For Pax type "Adult" the Description would be "Above 18 years".
    Rate:
     This allows you to enter the price for the respective pax type.
  4. To add multiple Pax type please click on the Add button.

Please Note: All the pricing are per pax only.

Creating variant based pricing:

Variants are a great way to sell versions of the same trip at different price points. For example, you may have the Luxury variant or Standard variant of the trip. You may also have a Spanish variant and an English variant or a Weekday variant and a Weekend variant.
To create variants please follow the below steps,
  1. Click on the Need tour variants link.

  2. From the popover click on the Create a new variant button.
  3. Provide the Variant Code, Name, Description.

  4. Click on Save button.
  5. Once a variant is created it by defaults picks the pax types which are already defined. 
  6. You can have additional pax types for particular variants if required. 
  7. Additionally, the Advertised price can also be specified for each variant.
  8. Click on Save.


Please Note: If you have created a variant for an existing tour for which the calendar is already opened, then you will have to open the calendar for the newly added variants manually. We would recommend you to read  Calendar: Opening/ Closing dates and managing them.

Creating Group based pricing:

You can also create group based pricing, and offer different pricing for different numbers of passenger. For example, if you provide a trek, you mostly go for group pricing structure, i.e 500/- Rs for 1-10 participants, if the participants are between 11-20 then you may charge them 400/- Rs, and so on.
To add group pricing follow the below steps,
  1. Click on Participant type
  2. Select the Group pricing option available from the options.
  3. Enter the name and description



  4. Enter the group size (i.e 1-10)
  5. Enter the charge per participants



  6. Click on + button to add pricing for next 11-20 participants



  7. Enter the charge per participants for 11-20 participants




  8. Follow the step 4-7 again till you wish.
  9. Click on Save.

Creating a Custom Pax type:

Most probably in addition to the basic pax types, you may also want to sell a different pax type which is not defined on the system. You can always add your own pax type.
To add a Custom Pax type please follow the below steps,
  1. Click on the Pick a participant type drop-down.
  2. Select the Custom pax type option available from the options.
  3. Add the required Pax Name, Description, Price.
  4. Click on Save.

Setting up Advertised Price:

This advertised price is showcased on your trip details page under the BOOK Now button. This is the indicative/advertised price for this trip. It will be shown on the trip cards across your website as well as the trip detail page.

The Price Label allows you to add a small text in addition to the advertised price. This helps the customer understand more about the price. 

The 3 options available are as follows,

  1. Before
    The text here is appended before the Advertised Price. For example, Starting from 1500 Rs.
  2. After 
    The text here is appended after the Advertised Price. For example, 500 Rs per participants.
  3. None
    You can also opt for no label. This will only display the Advertised price.


Changing currency at a trip level in Prices & Rates:


This allows you to change the currency for a particular trip. So you can have one trip in INR whereas others in USD. This helps your customer to make the payment according to their ease. 


Please follow the below steps to modify the currency,
  1. Click on the Currency: INR option.
  2. Select the preferred currency from the dropdown shown in the pop-up.
  3. Click on Save  
PLEASE NOTE: Changing currency will change currency only for the selected trip. If you change the currency and if your payment gateway does not support the new currency then during payments system will automatically convert your amount into the equivalent amount of the currency supported by the payment gateway.


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