How to Create and Manage Fares
Fares allow you to dynamically control the pricing by setting up one or multiple rules, where at least one or all of them have to be met. When these rules are met, the price of your product changes automatically.
In this article you will learn how to create and set up your fares, as well as view a demo of how they work using some examples.
In your Ventrata dashboard, go to Products > Products.
Select an existing product.
Go to the Fares tab.
Press the + NEW FARE button.
Enter the name.
Select the sources which should support dynamic pricing.
Select a conjunctive operator.
Select one or multiple rules.
Select a comparison operator.
Enter a value to complete the rule.
Press the Create Fare button.
On the product level, go to the Rates tab.
From the modifiers below the Rates tab, select the 'All Fares' drop-down and switch to your newly created fare.
You can add other modifiers, such as a specific reseller, to associate the fare with the selected reseller. When combining modifiers, be mindful of other dependencies that may affect how fares are applied. In case of resellers, make sure 'Allow Fares' is enabled on the reseller detail.
Set new prices for this fare.
Press the SAVE CHANGES button.
By default, fares are set to 'Automatic', meaning they are applied based on the rules created as per above. You have, however, the option to default to a specific rate.
Doing so will remove dynamic pricing and all rates will reflect rates set for the selected fare.
On the product level, press the pen and paper icon to edit the product detail.
Scroll down or simply search for 'Fare'.
Select the fare that should be applied by default.
Press the Update Product button to save your changes.
In this example we are using the 'Booking Size' rule, where 4 or more tickets in a booking will get a different rate compared to bookings with 3 or fewer tickets in one booking.
We set up our rates to the below values:
Notice how the price changes from 200 to 150 CZK depending on the number of tickets selected in the booking:
We have added a 1 hour 'Notice' rule to our previous 'Booking Size', therefore the booking now has to satisfy two conditions: the booking size must be 4 or more tickets AND it must be less than 1 hour before travel date (tour start).
We have changed our conjunctive operator from AND to OR, therefore the booking has to satisfy only one of the conditions: either booking at least 4 tickets OR the booking must be made within 1 hour before travel date.
Notice how pricing changes when only one rule has to be met:
No-rule fares are empty fares that override the application of your fares and applies your normal rates instead. This comes in handy when a one-time event has the potential to draw in more customers and you can forego fares that would otherwise apply.
To create a no rule fare,
Press the + NEW FARE button.
Enter the name.
Press the Create Fare button.
Go to the General Availability tab.
Select the 'Date' modifier.
Switch to 'Fare' in the view settings.
Select a date from the calendar.
Select the 'No rule' fare.
Review the fare update in General Availability.
If you select a date in another month than the current one, when you save the availability update, the calendar jumps back to the current month and the view goes back to the default 'Capacity'. Switch back to 'Fare' and to the month where the availability changed to see your changes.
Review the fare update in the manifest.
In this article you will learn how to create and set up your fares, as well as view a demo of how they work using some examples.
Create New Fare
In your Ventrata dashboard, go to Products > Products.
Select an existing product.
Go to the Fares tab.
Press the + NEW FARE button.
Enter the name.
Select the sources which should support dynamic pricing.
Select a conjunctive operator.
| Operator | Function |
|---|---|
| AND | all of the selected rules must be met for the fare to apply |
| OR | at least one of the selected rules must be met for the fare to apply |
Select one or multiple rules.
| Rule | Description |
|---|---|
| Occupancy | how full the tour is in percentages (%) |
| Vacancies | the number of remaining places available on the tour |
| PAX | the total number of tickets sold for the selected tour |
| Booking Size | the number of tickets sold in the booking |
| Notice | the length of time between booking date and travel date in minutes, hours or days |
| Duration | the amount of time the tour lasts for in minutes, hours or days |
Select a comparison operator.
| Operator | Description |
|---|---|
| > | higher than your value |
| >= | equal or higher than your value |
| = | equals your value |
| != | does not equal your value |
| <= | equal or lower than your value |
| < | lower than your value |
Enter a value to complete the rule.
Press the Create Fare button.
Set Fare Rates
On the product level, go to the Rates tab.
From the modifiers below the Rates tab, select the 'All Fares' drop-down and switch to your newly created fare.
You can add other modifiers, such as a specific reseller, to associate the fare with the selected reseller. When combining modifiers, be mindful of other dependencies that may affect how fares are applied. In case of resellers, make sure 'Allow Fares' is enabled on the reseller detail.
Set new prices for this fare.
Press the SAVE CHANGES button.
Select Default Fare
By default, fares are set to 'Automatic', meaning they are applied based on the rules created as per above. You have, however, the option to default to a specific rate.
Doing so will remove dynamic pricing and all rates will reflect rates set for the selected fare.
On the product level, press the pen and paper icon to edit the product detail.
Scroll down or simply search for 'Fare'.
Select the fare that should be applied by default.
Press the Update Product button to save your changes.
Fares in Practice
1-Rule Fares
In this example we are using the 'Booking Size' rule, where 4 or more tickets in a booking will get a different rate compared to bookings with 3 or fewer tickets in one booking.
We set up our rates to the below values:
| Regular Rate (CZK) | Fare Rate (CZK) | |
|---|---|---|
| Adult | 200 | 150 |
| Child | 100 | 80 |
| Family | 400 | 300 |
Notice how the price changes from 200 to 150 CZK depending on the number of tickets selected in the booking:
Fares with AND Conjunctive Operator
We have added a 1 hour 'Notice' rule to our previous 'Booking Size', therefore the booking now has to satisfy two conditions: the booking size must be 4 or more tickets AND it must be less than 1 hour before travel date (tour start).
Fares with OR Conjunctive Operator
We have changed our conjunctive operator from AND to OR, therefore the booking has to satisfy only one of the conditions: either booking at least 4 tickets OR the booking must be made within 1 hour before travel date.
Notice how pricing changes when only one rule has to be met:
No-Rule Fare
No-rule fares are empty fares that override the application of your fares and applies your normal rates instead. This comes in handy when a one-time event has the potential to draw in more customers and you can forego fares that would otherwise apply.
To create a no rule fare,
Press the + NEW FARE button.
Enter the name.
Press the Create Fare button.
Go to the General Availability tab.
Select the 'Date' modifier.
Switch to 'Fare' in the view settings.
Select a date from the calendar.
Select the 'No rule' fare.
Review the fare update in General Availability.
If you select a date in another month than the current one, when you save the availability update, the calendar jumps back to the current month and the view goes back to the default 'Capacity'. Switch back to 'Fare' and to the month where the availability changed to see your changes.
Review the fare update in the manifest.
Updated on: 29/03/2024
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