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:

  1. Select Rate and Sales > Pricing > Room Rates.
  2. In the Rate Configuration section, click the New Property Rate link. The Define New Property Rates window is displayed.
  3. Click Add corresponding to the rate plan that you want to configure. The Property Rates tab is displayed.
  4. In the Rate Plan Details section on the Property Rates tab, the following information is displayed:
    Rate Plan
    The name of the rate plan. This is a display field.
    Market Segment
    The market segment assigned to the rate plan on the Standard Rate Plan page. This is a display field.
    Track
    Specify 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 property parameter CMSINTG is selected.
    Rate Level
    Specify 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 basis on which the rates for the rate plan that you are modifying is calculated. Following are the available options:
    • Base Rate
      Use As Derivative Only
      This field is displayed only when you select the value Base Rate in the Rate Basis field. Select this check box to indicate that this rate plan must be used to derive the rates for other rate plans. The rate plan itself will not show as a sell option when this setting is enabled.
      Allow Manual Adjustments
      This field is displayed only when you select the value Base Rate in the Rate Basis field. Select this check box to allow the user to manually modify the rates for this rate plan.
      Rate Duration
      The duration for which the rates defined in this rate period are valid. Following are the 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. Following are the 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
      If this check box is selected, the system allows 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
      Select the baseline rate plan that must be adjusted to calculate the new rates.
      • 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

      Select a 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 the check box to indicate that the rate can be used for dynamic pricing.

    See Calculating Tier-2 adjustment rates.

    Yieldable
    Select the check box to calculate the yield from this rate using Revenue Management Controls..
    Exclusive Rate
    Select the 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 the 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 the check box to allow the user to override the rates and specify a new rate for a reservation.
    Commissionable
    Select the check box to indicate that commission amount can be allocated to the relevant party if this rate is used for reservation.
  5. Click Save Parameters to save the information that you have specified.
Related topics