Learn how to align TakeUp Behavior with your rate strategy - from conservative to courageous.
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.
Overview
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.
In a moderate setting, you'll see a balanced approach.
More information about each different TakeUp behavior can be found on the TakeUp Configuration page underneath the selections and graph.
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."
The default rate Behavior will apply to all 12 months of the year.
From there, you can choose between a Conservative, Moderate, or Courageous setting for your TakeUp behavior.
Make sure to click Update when choosing a new Behavior setting.
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.
For example, 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. Alternatively, 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.
To change your TakeUp Behavior setting at the monthly level, start by navigating to the Rate Management tab on the left hand navigation.
Click the Month Adjustments button, to the right and above the monthly calendar.
You'll see the TakeUp Behavior Settings at the top, with the option to Use default behavior settings.
Change your behavior setting for the month by toggling off the button and selecting your desired Behavior. Make sure to click Update to save changes.
Check out the video below for a quick look at how to make these changes.