Properly maintaining your property’s inventory is one of the most important activities within innRoad. Proper maintenance of your property’s inventory will ensure that the right rooms are sold to your guests at the right prices to the right sources.
Basic inventory management within innRoad is comprised of three different components: SEASONS, RULES, RATES
SEASONS -
Seasons start the whole process. A season is a range of dates (you can specify certain days within that date range) corresponding to changes in your property’s Rates, Rules and Policies.
Rate Seasons – Can reflect when your rates change season to season, they could reflect a year-round season midweek and weekend, they can reflect the dates of a temporary special.
Rules Seasons – Can reflect when certain rules need to apply, dates where you may have a minimum length of stay required.
Policies Season – Can reflect the dates you need to change your policies. If you have a stricter Cancellation Policy during certain holidays of festivals.
I highly suggest labeling your Seasons well; High Season Deposit Policy, Summer Midweek – rates; Festival – MLOS (minimum length of stay)
RATES –
Rates can be as simple or as complex as you want. Rates can also be applied to specific Seasons, Room Classes and Sources. A simple example of two rooms with the same rate applied to the In-Season Midweek season, applied to the two specific Room Classes at that price, and applied to two Sources. As before, detailed titles will be very helpful.
To create Specials, you have many options in the RATE CONDITIONS box such as requiring a Minimum length of stay, creating a Promo Code, or Setting an Advance Booking requirement.
RULES -
Rules are a great tool. They can be applied to Seasons, Room Classes, Sources and Rates. There is so much you can do here to improve your revenue. Again, I highly suggest a rather detailed title.
A simple example is a Two Night Minimum on weekends. You would apply that to a specific season, all your rooms, all sources and all rate plans.
A more complex example would be a Seasonal Special. Let’s say you sent your guests an email blast offering a 10% discount if they book 2 nights in the Starfish Room in July and August, and they must book direct, no OTA bookings.
Another example is to limit check-ins and check-outs. The most popular use of these is Christmas. Both “no check-ins” and “no check-outs” can be selected so guests can only stayover that day, so you are able to limit your staff. Also popularly used in off-seasons if you are closed a few days a week.
Once you have Base Rates for the year entered you can go into the Overview Tab and make subtle changes. You can also set up Goals, Alerts and Auto Actions to further improve your revenue.
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