How Do I Use Channel Markups in iGMS?

The iGMS Channel Markups feature enables you to adjust prices automatically on multiple channels. It will help you to increase the nightly price by a percentage to compensate for the OTA’s fees or to yield more revenue when demand is high.

Why should I use Channel Markups?

Here are a couple of benefits of using the Channel Markups feature:

• You can automatically change priсes across multiple channels within a couple of clicks.
• You can use both the Channel Markups and any dynamic pricing tool of your choice to make sure your rentals are competitive on the market and easily adapt to changes.

How do iGMS Channel Markups work?

The Channel Markups feature helps you to optimize and simplify your pricing strategy across multiple channels to drive more revenue based on the daily price of each listing and the percentage you set for it. You can use both negative and positive percentages to adjust your pricing strategy, and you can also choose which individual listings within the property’s group will be affected.

For example, if you want to add a 10% markup to your Airbnb rate, a 15% markup to your Booking.com rate and a 5% markup to your VRBO rate, but offer a 10% discount for direct bookings, you can set the Channel Markups like this:

How do I enable Channel Markups?

Important: If you enable Channel Markups, iGMS will take the pricing settings from an Airbnb listing as the base for calculating rates on the other channels. In case there’s no Airbnb listing, the settings will be taken from the Vrbo channel. 

To enable Channel Markups for a property, in your iGMS account:

1. Enter the Property Editor by going to Accounts and Listings and clicking on a listing you want to edit, or by going to Properties and clicking the Edit button next to a property.
   
   
2. Click on the Pricing tab of the Property Editor:
   
3. Scroll down until you see Channel Markups:
   
4. Make any changes you want to the percentage values next to each listing and click Save.
   
   
5. Click Yes, Enable to finish activating the Markups.
   

That’s it! Now you can start optimizing your pricing strategy across multiple channels all in one place!

Can I use Channel Markups with dynamic pricing tools?

Yes, you can. You can select a connected dynamic pricing tool in the Dynamic Pricing section.

In this case, the base price settings will be pulled from the tool. The Channel Markups percentage will be applied to these values.

How can I see Channel Markups changes on the calendars?

By default, you can see the Property’s base price on the Multi-calendar and Single Property Calendar. When you click on any specific date, you will be able to see the price for that date (set by you or by your dynamic pricing tool) and the percentage of the Channel Markups you’ve set.

And if you use the listing dropdown menu to switch between your different booking channels, you will see the percentage next to each day’s price as well:

Things to keep in mind

1. To disable Channel Markups, simply change the percentages of all the markups to 0% and save the changes.
2. The base price that will be affected by the Channel Markups can be set from the Listing Editor or from the Calendars.
3. Once you’ve enabled the Channel Markups, you can make changes to your pricing, availability, and rate on iGMS only. If you change anything on an external booking channel, the changes will be overridden by iGMS.
4. If one of your channels features a different currency, you will see the channel adjustments in the currency of this channel. The system will convert the adjustment according to the current exchange rate.

If you need any help with the Channel Markups feature or if you have questions, feel free to reach out to our Customer Experience team at support@igms.com.