Cost Estimator

The Cost Estimator tool in AdvanceCM is designed to assist property managers in accurately calculating potential booking costs. This feature supports budgeting, forecasting, and ensuring all property expenses are accounted for, including guest services, maintenance, and repairs. Whether planning a renovation, estimating daily operational costs, or calculating guest-related expenses, the Cost Estimator provides an intuitive and efficient solution for real-time cost planning and management.

With the Cost Estimator, you can easily estimate the costs associated with a hypothetical booking for any selected dates in any rental.

Let’s look at an example to calculate the cost of a 3-night stay for a guest booking our rental over New Year’s Eve. This duration matches the average length of stay for our rental, and we’re interested in determining the cost during a popular holiday period.

Click the blue Cost Estimator icon in the top-right corner of the AdvanceCM screen.

It will open the Cost Estimator pop up as shown below.

The Cost Estimator requires four fields to be completed. First, select the Rental that will be used to estimate the booking cost.
In our example, we have selected Rental A. This will allow us to estimate the cost for a booking made for this rental.

Next, select the Arrive Date and Depart Date for the booking. This allows you to estimate the rates for a booking based on the specified dates and the selected rental.
In our example, New Year Night falls on a Friday. We expect this to be the arrival date most guests choose for that holiday. So, we have selected Dec 29th to Jan 02.

Next, enter the number of Adults and Children (optional) that will be booked for the stay. If there is an additional guest fee for the rental, then AdvanceCM will include that in its cost estimation.
In our example, we assume no children will accompany guests on New Year’s Eve. Therefore, we’ve entered an adult count of 2 and left the child count at 0. Once these four required fields are completed, the cost estimate is generated. Based on this information, a 3-night stay during Valentine’s Day for Rental A will cost $1,539 without any further adjustments.

Costs can be estimated without specifying a channel. However, if there is a Channel Adjustment in place, you have the option to select a Channel. Doing so will allow you to see channel specific booking totals.
In our example, we have selected Booking.com as the channel. Because we have a +15% Channel Adjustment set for Booking.com, we see that the cost estimate has increased by 15% to $1,770.

Next, if you are using Webready and have created any discount codes, then you can enter the Discount Code value to see the estimated cost adjusted.
In our example, we have a 10% discount code for guests who book during this time period. So, the cost estimate has now been adjusted down by 10% to $1,593.