Hostaway and currencies
With Hostaway, you can manage all your listings on different channels within a single and powerful tool. But, what happens when you have properties listed on those channels with different currencies?
How does currency work?
Hostaway allows you to set day rates on multiple channels, such as Airbnb, Booking.com, Vrbo, etc. The value is set by numerical data (that is: 50, 70, 100, etc.) and does not convert currency exchange automatically. So when you set a price of 100 CAD, for instance, it will set the price on 100 each channel even if they have different currencies set up, so it could show as 100 CAD on Airbnb and 100£ on booking.com.
In order to modify different prices on different sites, you can use a Markup to modify the price on one channel according to the currency exchange set up on that channel.
For instance, if your Airbnb listing is in USD and your Booking.com listing is in CAD, you can manually adjust that by following the next steps:
- Go to Channel Manager > Listing Mapping > click on the "Markup" button for the selected property.
- Select the desired channel and then modify the price according to the currency by clicking on the cogwheel (configure) right next to the price and select the percentage:
- 1 USD = 1,30 CAD so that would be 30% on all sites that have CAD as currency
You should set up a base price according to the strongest currency on your listings so it would be easier for you to modify your channels.
Learn more on how to set up a channel markup.
Currency and Financial Reporting
As explained earlier, Hostaway does not convert the rates we send to channels or the reservation totals that they send to us.
Please note that if you are using different currencies, the Financial Reporting will not be accurate since we will add up all totals, no matter the currency.