Team function: Beyonders Beyond, Revenue Management

Description: When we receive direct long-term enquiries (28+ nights), we have to use different prices than the ones we have on PriceLabs. 

We also have specific platforms (SITU, SilverDoor, ICAB, TheSquare) for long-term enquiries and they will usually call us on the dedicated phone line (+44 20 3868 4028) to ask for the availability of a property and the price for the stay. You might also receive emails from them on home@staybeyond.com or forwarded email either from Camilla, or Lee. 

We could also receive discounts requests on long-term stays through Airbnb, HA, TA, PlumGuide. 

Goal: To ensure we send the right quotes for long-term enquiries and we quote these enquiries directly on the phone or via email in a timely manner. It’s really important to send a quote either on the phone or within 5 minutes of receiving the email to increase the conversion rate for these enquiries. 

Document last updated: 28/12/2019

Quote Calculators - Long-Term Rates

https://docs.google.com/spreadsheets/d/1W-VDOkXIGVSEixDCEVKwYBg4xKKuO37HSkW1ybNLG40/edit#gid=0

Tracking Enquiries 

https://docs.google.com/spreadsheets/d/1TPPtof--OIJUfD9vgAM0losfG6AKrsNapz1XGPxygKg/edit#gid=0

Step

Action 

Step 1: identify the length of the enquiry and the platform

Every time you receive a long-term enquiry you will have to use the “Quote Calculators” Google sheet to generate the price for that specific quote.


Long-term enquiries are bookings for 28+ nights only.

Short-term enquiries are bookings for 1-27 nights only.


The calculator can be used ONLY for long-term enquiries.

PriceLabs can be used for short-term enquiries.


We usually receive long-term enquiries via phone or email from SITU, SIlverDoor, ICAB. We can also use this calculator for direct long-term enquiries or for long term enquiries from Airbnb.


The first thing to identify is the length of the stay. Every time you receive a call or an email please ask to specify the exact number of nights. 


If the enquiry is for a period between 28 and 90 nights, please use the sheet called “Quote Calc (28-90 Nights)”.


If the enquiry is for a period longer than 90 nights, please use the sheet called “Quote Calc (90+ Nights)”.


You will also need to identify from which platform they are calling from so you will be able to quote adding the right commission amount to the price. 


Please also double-check the number of guests for the specific enquiry. 


Step 2: use the calculators

For both calculators, you will have to just fill in the cells highlighted in yellow. 


On the “START DATE” cell A2, please insert the check-in date.

On the “END DATE” cell B2, please insert the check-out date.


On the “Property Code” cell B5, please insert the property code.


On the “Booking Platform” cell B6, please select from the dropdown menu the platform you are quoting for so it will take into account the right commission and VAT to add on top of the price. 



All these details will generate the right quote to provide to the booking platform.  


Step 3: understand the final quote

For both calculators, you will get the quote results on the cells highlighted in red. 


On the “TOTAL NIGHTS” cell C2, you will get the total number of nights for the enquiry so you will be able to double-check that you are using the right calculator. 




On the “TOTAL QUOTE PRICE” cell B8, you will get the total price for the enquiry. This price always includes the platform commission and taxes.



You will also get a breakdown of:

  • the “Average Daily Rate” on cell B10

  • the “Average Weekly Rate” on cell B11

  • The “Average Weekly Monthly Rate” on cell B12

If the platforms ask for these breakdowns please provide these details too.


H

Please double check with Camilla or Lee on the Slack channel #long-term-bookings if the quote is correct. Only after confirmation, you will be able to send the quote out. 


Please note that:

The appropriate Slack channel to use for 28+ nights booking is  #long-term-bookings. 

The Slack channel dedicated to 1-27 nights booking is #revenuemgmt.


Step 4: send the final quote


Once you got the approval on the price either from Camilla or Lee, you will be able to share the quote.


When they call on the dedicated phone line it would be best if you keep them on the call so you will be able to quote the property directly on the phone. In this way, the response time will be less than 15-minute. When quoting on hte phone, please share with the interested person:

  • The total amount for the booking

  • The nightly rate for the booking

  • The deposit value - please use the deposit value we have in BO in the rental page

  • The cancellation policy once guests have already checked-in - non-refundable

Please also mention that the quote already includes commissions and VAT. If parking space is available please mention it. If an outside space is available please mention it too.



If you do not manage to hold the person on the phone or if they ask you to send the quote via email or if the quote comes through directly via email, please use the following email template to send the quote out:


“Hi [first name],


Following our recent call, please find below the quote for [property name(s)] for the period [check-in date] - [check-out date].


  • Nightly rate (including commission and VAT): £xxx

  • Total booking value (including commission and VAT): £xxx

  • Deposit value: £xxx

  • Cancellation policy once guests have already checked-in: non-refundable

  • Details: [outside space] available, [parking] available.


Please don’t hesitate to get in touch if you need more details about the property!


Looking forward to hearing back from you.


Thanks,

[your signature]”



Step 5: update the tracking sheet

After you send the quote, it’s important you add the request in the “Tracking Enquiries” Google sheet. 


You will have to add also the enquiry we decline immediately as we do not have availability. 


Please always remember that we can easily move a few short-term bookings to convert a long-term enquiry. 

We should only decline long-term enquiries when we have too many movements to put into action.


On the tracking sheet, please select the right sheet according to the platform you are quoting for. 


You will have to add:

  • the city (Column A)

  • the property code (Column B)

  • the day we receive the Enquiry (Column C), 

  • the check-in and check-out dates (Column E and Column F) 

  • the status of the enquiry (Column G) that at this stage will be either Approved or Declined 

  • the number of nights, the number of guests, and any specific information important to remember (Column H)

  • The total LOS (Column I) that you can find dragging down the formula in the above cell

  • The total quote including commission (Column J)



Step 6: follow-up with the booking platform for updates 

1-hour after you shared the enquiry with the booking platform, check for updates, either via phone or email, about the enquiry. You can use the below message: 


“Hi [first name],


Just a quick note to see if you have any feedback on the quote for [property name(s)] below.


Do you have any feedback from the guest?


Please don’t hesitate to get in touch or let us know if there’s anything else we can do in order to close this one :)!


Thanks,

[your signature]”


Step 7: if the quote is accepted - create the booking in BO and update the tracking sheet

After the follow-up, if the quote is accepted and the booking confirmed, please add in BO the booking adding the total booking value and the right commission amount.


To calculate the commission amount you will have to take 12% of the total booking value for SITU and SIlverDoor, and 15% of the total booking amount for ICAB.


After creating the booking in BO, please go back to the “Tracking Enquiries” Google sheet and update the status on Column G to Booked. 


Step 8: escalate with management

For any doubts or special requests such as discounts on the quote, please contact Camilla or Lee and they will assist you.


Step 9: inform Finance to prepare the invoice

As soon as the booking is confirmed please inform Ruben about it via email (ruben@staybeyond.com).


He will take care of the invoice but you will have to share with him:

  • BO booking link

  • Platform

  • Check-in and Check-out

  • Gross Value of the booking (Total price including commission)

  • Contact person from the specific platform