Open pricing and pricing rules

A system comprising:

• a processing device;
• a memory operatively coupled to the processing device, the memory to store a pricing rules engine, executable by the processing device from the memory, the pricing rules engine to:
• determine an offer price for a booking at a travel property, wherein the offer price is based on a capacity of the travel property and a forecasted demand for bookings at the travel property;
• compare the offer price to a rule threshold;
• and
• when the offer price exceeds the rule threshold, adjust a sub-rate price discount for a sub-rate at the travel property according to a representative rate charged by competitor travel properties in an identified competitor set, the sub-rate price discount comprising a difference between a sub-rate price and the offer price, wherein to adjust the sub-rate price discount for the travel property, the pricing rules engine is configured to reduce the sub-rate price discount in order to make the sub-rate price equal to the representative price, and maintain an availability of rooms at the travel property for the sub-rate.

A method comprising:

• determining an offer price for a booking at a travel property, wherein the offer price is based on a capacity of the travel property and a forecasted demand for bookings at the travel property;
• comparing, by a processing device, the offer price to a rule threshold;
• and
• when the offer price exceeds the rule threshold, adjusting a sub-rate price discount for a sub-rate at the travel property according to a representative rate charged by competitor travel properties in an identified competitor set, the sub-rate price discount comprising a difference between a sub-rate price and the offer price, wherein adjusting the sub-rate price discount for the travel property comprises reducing the sub-rate price discount in order to make the sub-rate price equal to the representative price, and maintaining an availability of rooms at the travel property for the sub-rate.

A non-transitory computer-readable storage medium storing instructions which, when executed, cause a processing device to perform operations comprising:

• determining an offer price for a booking at a travel property, wherein the offer price is based on a capacity of the travel property and a forecasted demand for bookings at the travel property;
• comparing, by the processing device, the offer price to a rule threshold;
• and
• when the offer price exceeds the rule threshold, adjusting a sub-rate price discount for a sub-rate at the travel property according to a representative rate charged by competitor travel properties in an identified competitor set, the sub-rate price discount comprising a difference between a sub-rate price and the offer price, wherein adjusting the sub-rate price discount for the travel property comprises reducing the sub-rate price discount in order to make the sub-rate price equal to the representative price, and maintaining an availability of rooms at the travel property for the sub-rate.