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.
Create New Fare
In your Ventrata dashboard, go to Products > Products.
Products
Select an existing product.
Go to the Fares tab.
Fares
Press the + NEW FARE button.
New Fare
Enter the name.
Fare Name
Select the sources which should support dynamic pricing.
Sources
Select a conjunctive operator.
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
Conjunctive Operator
Select one or multiple rules.
Occupancy Forecast - how full you expect the tour to be in percentages (%)
📒 NOTE
The forecast is based on weeks, not specific calendar dates. The calculation looks at occupancy data 364 days in the past and projects it forward to the corresponding week of the following year.
Use this option together with the occupancy rule and the 'OR' conjunctive operator, using identical settings. When calendar dates and times were sold out in the previous year, Ventrata automatically applies the corresponding fare for the corresponding week of the following year based on the expected occupancy. As a result, those high-demand slots will be sold at an adjusted, higher fare.
Occupancy Forecast
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
Fare Rules
Select a comparison operator.
> - 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.
Comparison Operators & Value
Press the Create Fare button.
Create Fare
Create Fare Groups
Fare groups enable you to combine dynamic pricing with other types of variability, such as seasons or options, allowing you to use different rules across modifiers for greater flexibility.
📗 TIP
Learn how to create fare groups.
Set Fare Rates
Ensure correct pricing appears across all sales channels by setting base and fare-specific rates.
📗 TIP
Learn how to set fare rates.
Re-arrange Fares
If you have multiple fares, the order in which they are listed in the table directly affects how fares are applied in your checkout widget and affects overall performance.
📗 TIP
Learn how to arrange fares in the right order for optimal performance.
Set Fare Without Overriding Availability
The 'Fare Only' option on the General Availability tab allows you to set fares or fare groups without tying them to a capacity or modifying resource allocation.
📒 NOTE
Using the 'Fixed' or 'Percentage' option will override the fare availability made using the 'Fare Only' option.
Fare Only
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.
📗 TIP
Learn how to set a default fare.
Fares in Practice
Fares can be applied across various sales scenarios, ranging from 1-rule fares to utilising entire fare groups.
📗 TIP
Learn how to apply different fare types effectively.
How to Control Fares on the Booking Form
In the backoffice, you will find two checkboxes on the booking form that control how fares behave when bookings are edited or updated — Fixed Fare and Prevent Fare Change.
📗 TIP
Learn when how to control fares using these options.