New property rates

You can use the Maintain Room Rates page to create new property rates. Before you can configure new property rate, you must define a standard rate plan.

To create new property rates:

Select Rate and Sales > Pricing > Room Rates. The Room Rates screen is displayed.
In the Rate Configuration section, Click the New Property Rate link in the Rate Configuration section . The Define New Property Rates window is displayed.
Click Add corresponding to the rate plan . The Property Rates tab is displayed.
Specify this information in the Rate Plan Details section:
Rate Plan

The name of the rate plan. By default, the application displays the value..

Market Segment

The market segment assigned to the rate plan on the Standard Rate Plan page. By default, the application displays the value..

Track

The track codes categorized by the market segment.

Player Comp Rate

Select this check box to display the comp rate instead of the transfer rate amount in the Rate Shopping and other related screens.
Note: This field is displayed only if the CMSINTG property parameter is selected on the Property Parameter screen.

Rate Level

The code for the rate level. Rate levels are used to categorize rate plans for the purpose of booking restrictions.

Rate Information

The rate plan description that is displayed to the reservation staff.

Rate Basis
The rate option to calculate the rate plan. Available options:
- Base Rate
- Adjust Baseline Rate
  
  Use As Derivative Only
  
  Select this check box to indicate that this rate plan must be used to derive the rates for other rate plans. The rate plan is not available a sell option when this check box is selected.
  Note: This field is displayed only when you select the value Base Rate in the Rate Basis field.
  
  Allow Manual Adjustments
  
  Select this check box to allow the user to manually modify the rates for this rate plan.
  Note: This field is displayed only when you select the value Base Rate in the Rate Basis field.
  
  Rate Duration
  
  The duration for which the rates defined in this rate period are valid. Available options:
  
  Continuous Duration: The rate plan has a definite beginning date, but rates continue to be effective until new rate period is specified.
  
  Limited Duration: The rate plan is effective from the starting date through the end date that you specify.
  
  Adjust Baseline Rate
- Adjustment Type
  
  The type of adjustment that must be carried out to calculate the new rates. Available values:
  
  Adjust Baseline Rate: Determines whether the adjustment is to be calculated by fixed amount or percentage.
  
  Adjust rate based on the Best Available Rate: This is enabled when you use Revenue Management Controls.
  
  Use Adjustment Period
  
  Select this check box to allow the user to create seasonal amount or percent adjustments. For example, on June 1 the adjustment goes from 10% to 12%. If this check box is clear, the rates are based on a single amount or percentage for all dates in the future.
  
  Baseline Rate Plan
  
  The baseline rate plan that must be adjusted to calculate the new rates. Available options applied on the selected rate plan for adjustment:
  
  Increase Rates by: Enter the dollar or percentage values by which rates must be increased.
  
  Decrease Rates by: Enter the dollar or percentage values by which rates must be decreased.
  
  Rounding Scale
  
  The rounding option to use in the event that a rate is not adjusted to a whole number. When rounding up or down, enter the rounding value that must be calculated. For example, to the nearest 5c or full dollar.
Minimum Length of Stay

The rate can be used only when the guest stays in the property for the minimum number of days that you specify.

Maximum Length Of Stay

The maximum duration for which the guest may book using this rate plan.

Minimum Number of Guests

The rate can be used only when the minimum number of guests that you specify, stay in the property.

Room Only

The rates include the charge for the room only.

Price Includes Package Items

The rates include the room charge and the charge for package items.

Tax Included

The rate includes the room charge as well as the tax.

Apply Dynamic Pricing

Select this check box to indicate that the rate can be used for dynamic pricing.
See Calculating Tier-2 adjustment rates.

Yieldable

Select this check box to calculate the yield from this rate using Revenue Management Controls.

Exclusive Rate

Select this check box to indicate that the rate is exclusive. The exclusive rate is generally associated to an organization and is displayed only for a reservation associated to that organization. The exclusive plan is not displayed as a rate plan that can be sold on its own.

Qualifying Web Rate

Select this check box to indicate if the rate can be used for reservations that are completed using the internet. This is used in conjunction with Revenue Management Controls.

Allow Rate Overrides

Select this check box to allow the user to override the rates and specify a new rate for a reservation.

Commissionable

Select this check box to indicate that commission amount can be allocated to the relevant party if this rate is used for reservation.

Commission Percentage

The percentage to calculate the commission.

Commission Pricing
The criteria to apply the commission. Available options:
- Flat
- Per Night
Commission Transaction Code
The Transaction Code defined for the property on the Transaction Code screen.
Note:

You must specify only an active Transaction Code.

The commission is calculated on the entire amount.
Commission Pre-Paid Transaction Code
The Transaction Code defined for the property with Commission Type set to Prepaid on the Transaction Code screen.
Note:

You must specify only an active Transaction Code.

The commission is calculated on the entire amount.
Commission Folio

The folio to apply the calculated commission.
Note: You can specify other folios except the Accounting Folio and Corrections Folio.
Click Save Parameters to save the information that you have specified.