Applies to:          Stayntouch PMS          

Price Point

Price Point is a fully-automated Revenue Management System. Price Point analyzes property performance 24/7 and pushes back optimal prices to the PMS and then OTAs and other distribution channels. It is capable of increasing revenues by 19% and occupancy by 13% (on average, according to their pre-pandemic data).

Price Point uses Stayntouch Open APIs to pull data and push pricing decisions (daily price points) back to Stayntouch. Price Point  uses a one-to-many approach; meaning only one rate code in the PMS is updated, and all other dynamic rates have to be derived from it in order to effectively manage dynamic pricing changes.

SETUP

Hotels need to advise Price Point which "Master Rate Code" to use for pricing, and they need to ensure that any dynamically priced rate codes are derived from the "Master Rate Code". The "Master Rate Code" must have rate values available in the rate configuration. Price Point will support POST/GET restrictions in phase 2.

API USAGE

• GET/hotels – setup stage only
• GET/hotels{ID} – setup stage only
• GET/hotels/{ID}/rates – setup stage only + once per week
• GET/hotels/{ID}/room_types – setup stage only + once per month
• GET/reservations – parameter – updated today, once an hour
• GET/inventories – every 4 hours, broken down to 30 days of data in each call
• GET/rate/{ID}/amount – upon setup only, broken down to 30 days of data in each call
• PUT/rate/{ID}/amounts 

Updating (PUT) daily price points for one selected rate code in Stayntouch

• Rate values must exist in Stayntouch in order for Pricing Service to update daily prices. We do not have the ability to post (create) new daily price points without pre-existing values. Rate changes applied by Pricing Service are visible in the Rate Manager only.
• Price Point supports single and double pricing only. Phase 2 will support extra adults and children. Extra adults and children pricing will read from the rate settings in Stayntouch for now.

WEBHOOKS IN USE

• Reservations Endpoint
  • New Reservation
  • Edit Reservation
  • Cancel Reservation
  • No Show Reservation
  • Reinstate Reservation
• Inventory Endpoint
  • Update Inventory

OAUTH KEYS

• The hotel needs to send authorization to their CSM or Implementations allowing Price Point to access their data.
• Stayntouch to generate OAuth keys, and once created, they will share these with Price Point.
• Implementations/CSM will generate API OAuth keys using the below process.
• Price Point requires the following Stayntouch Connect credentials:
  • client_id
  • client_secret
  • hotel_id