TakeUp's rate behavior defines TakeUp's rate adjustment strategy. You can choose between a more conservative or courageous approach. TakeUp behavior can be adjusted at a default(year-round) level or at the monthly level.
Setting TakeUp Behavior at the Default Level
Your property's default rate behavior can be found by navigating to the "Settings" tab in the control panel on the left side of the web app and selecting "TakeUp Configuration."
From there, you can choose between a Conservative, Moderate, or Courageous setting for your TakeUp behavior. The different behaviors will dictate the rate at which the algorithm makes adjustments and its approach to identifying revenue-optimizing rates based on your risk tolerance. Each setting is designed to generate more revenue but gives a unique approach based on your risk tolerance.
In a conservative setting, new rate territory is explored more conservatively, which minimizes sharp rate adjustments and may favor rates on the lower end of the designated rate bounds. Rates being set have high confidence in generating bookings, and thus the potential to boost occupancy. In a courageous setting, you may see more frequent pricing changes and a wider spread of rates between neighboring days. Larger rate adjustments are more common in a courageous setting, increasing the potential for boosting revenue through exploring higher ADRs.
More information about the different TakeUp behaviors can be found on the TakeUp Configuration page underneath the selections and graph.
Setting TakeUp Behavior at the Monthly Level
There may be instances where you may want to get more granular with your TakeUp behavior settings. In cases where demand and revenue performance changes drastically month-to-month, you may want to customize the TakeUp behavior to reflect those differences.
In months where your property historically experiences high demand and the current performance shows your property in a position of strength, you may opt for a courageous setting. During months with historically low levels of demand and the current booking pace is slow, you may opt for a conservative setting. You can change these settings at any time easily in the web app.
Please see the video below for a better look at how to make these changes.