A rate determines the pricing structure used on a reservation with the ability to calculate based on a variety of factors including the day of the week, number of guests or length of stay.

Nuanced rate structures can be setup using more advanced options including Dynamic Pricing, Multiple Best Available Rates, Packages or Derived Rates.

Rate Components

A rate is made up of a combination of components linked using a Rate Lookup to determine the availability, pricing structures, rules and or limitations.

The Rate Type determines the name and features of a rate including the Rate Structure, options, conditions and criteria.

A Rate Period sets the available date ranges and can be used to define the seasons of change for fee structures.

The Rate Table sets the fees and determines how fees are calculated including any extra fee considerations for additional guests, packages or no show.

Any combination of components can be connected in a Rate Lookup enabling each component to be used multiple times to save on setup and maintenance labour.

Best Available Rate

The Rate Type set as the Best Available Rate (BAR) defines a property's starting rate and is the first rate that must be setup in RMS.

Except when setup to use Multiple Best Available Rates, only one Rate Type can be set as the Best Available Rate.

'Best Available Rate' can be used to set the key rate at a property whether that is a Rack Rate, Best Available Rate, Lowest Available Rate or Best Unrestricted Rate. The 'BAR' tag will define the selected Rate Type as the key rate at the property.

The Rate Type set as the Best Available Rate will be used to display the starting rate for a Category on the minimised view of the Rate Manager Chart or on the Booking Chart and Quick Quote.

Multiple Best Available Rates

Multiple Best Available Rates (Multi-BAR) is an alternative to the single key rate structure above that allows multiple price points to be defined as the Best Available Rate and the active price point toggled for a date or date range.

Using Multi-BAR with any subsequent rates setup as Derived Rates from the Best Available Rate allows for quickly shifting prices for all connected rates by toggling the active Best Available Rate for a date or date range to match with the revenue management strategy.

Rate Structures

The Rate Structure determines the fee calculation options available on the Rate Table and the rate's compatibility with channel connections.

The Direct Rate Structure is the most flexible with Hourly, Daily, Nightly, Per Guest and Extended Stay options that can be used in-house, on the RMS Internet Booking Engine and for select Channel Connections.

The OTA Rate Structure is limited to Nightly and Extended Stay calculation options that are accepted by Online Travel Agents.

OTA Rate Structure

The OTA Rate Structure has limited Rate Table options to remain compatible with all available channel connections to Online Travel Agents.

Online Travel Agents broadly accept rates as "Per Period" for a defined value (price per date) and this is reflected in the available Rate Table options when using the OTA Rate Structure.

The OTA Rate Structure also includes an Extended Stay fee structure on the Rate Table that can be used with compatible channel connections.

Direct Rate Structure

The Direct Rate Structure is compatible with all available Rate Table fee structures and is the most flexible. 

However, few channel connections outside the RMS Internet Booking Engine can accept rates in this format so these rate structures work best for direct bookings through the RMS Internet Booking Engine or in-house use.

Rate Types

A Rate Type is the charge description that identifies the pricing structure used on a reservation.

A Rate Type can be setup as a standalone rate with the pricing structure set in a Rate Table or as a Derived Rate that automatically calculates the rates based on a predefined adjustment amount set against the selected 'Derived From' Rate Type.

A Derived Rate can be setup to follow the availability of the selected Master Rate Type or be set with it's own periods of availability.

The Advance Purchase option on a Rate Type or Derived Rate Type can be used to setup a lead time of availability for the Rate Type. The lead time set will determine how far in advance from the Reservation Arrive Date the Rate Type must be booked.

Advance Purchase Rates can be used as part of a strategy to attract early bookers with promotional or discounted prices.

The Last Minute option on a Rate Type or Derived Rate can be used to setup a lead time of availability in reverse of an Advance Purchase Rate.

The lead time set for Last Minute will determine how close to the Reservation Arrive Date the Rate Type will become available for booking. The Last Minute option can be used to offer promotional or discounted rates at short notice as part of a revenue management strategy targeting occupancy.

Members Only Rate Types are only available if the Guest Profile on the reservation has a valid membership whilst Contracted Rates are only available to a Company or Travel Agent that has that Rate Type allocated to them.

Extras

A whole range of extra options can be setup on a rate to customise it's availability, the reservation criteria to make the rate available and the way pricing will apply.

Extras include fees for Additional Guests, Deposits, No Show Fees, Length of Stay Restrictions, and Dynamic Pricing.

Length of Stay Restrictions require the reservation to meet the minimum or maximum length of stay set to make that rate available for selection. Length of Stay Restrictions can be set at multiple levels and overridden in the Control Panel.

Dynamic Pricing can be set to automatically adjust a rate by the set value when the defined occupancy or time period occurs. 

Calculations for Dynamic Pricing are dynamic, determined by the occupancy at the property at the time Rate Recalculation occurs. Changing the quoted rate on a reservation that included a dynamic pricing adjustment can result in a variance from the previous adjustment amount if the occupancy level or time period is difference now than it was at the time the previous quoted rate was generated.