Yield Management allows you to automatically raise or lower rates in response to your occupancy levels. Create automatic Yield Management rules, which we call Auto Actions, so you never miss another opportunity to drive revenue!
1. Select the Inventory tab -->Demand Management
2. Goal Interval
• You can measure your occupancy and revenue by month or by week. Select the option that best suits your property
3. Goal Setup
• This forecasting tool will help you calculate your property's revenue using your Average Daily Rate (ADR) and estimated occupancy goal.
• Enter your estimated occupancy per month. The projected revenue will be calculated for you
• Below is an example of a monthly forecast
• Below is an example of a weekly forecast
• You are also able to break down the goals by weekday and weekend by clicking this slider to the right
• If you would like to edit any of the information, simply click the Back button located on the bottom left corner
4. Set goal and performance alerts
• The innRoad system can monitor your property and alert you when certain conditions are met. innRoad will notify you of opportunities to make potential adjustments to your property in the digest and on the rates grid.
• Enter the email addresses of the employees who are to receive the performance notifications
• Turning this toggle on will send a Performance digest to those email(s) as well as any occupancy alert notifications you set
Would you always want to raise rates when you're above 80% occupancy? Or lower rates when occupancy drops below 20% with a week left? Here's how!
Create Greater than and Less than Alerts
• Greater than and Less than Occupancy Alerts allow you to know when your property is above or below a certain occupancy
• The Auto Actions change rates automatically at specified occupancy levels
• The Auto Actions can change rates automatically by Rate Plan, Room Class and Channel so you have total control
To do so:
• Enable a Greater than alert and Less than alert to begin ( examples below )
• For your Greater than alert, if the hotel occupancy is greater than 80%, you will receive a notification
• For your Less than alert, if the hotel occupancy is less than 30% within 14 days of the stay date, you will receive a notification.
Add Auto Actions to your Greater than and Less than Alerts
• To add an Auto Action to your Greater than or Less than rule, click on Add Auto Action underneath each rule
• Add details to your Auto Action, including how much to increase/decrease rates and which rate plans, rooms, and channels you'd like to be affected
• You can change rates by a fixed amount (USD) or percentage and rates changes always occur based on top of your base rate
• Click Add to complete your Auto Action details
• After you have added your Auto Action, click Save in the top right corner to put your Auto Action into effect
Editing, Disabling and Deleting Auto Actions
• You can edit or delete your alerts and Auto Actions at any time
• Additionally, you can disable an alert to remove the effects of an associated Auto Action
• Make sure to click Save after deleting or disabling the Auto Action. This will remove the Auto Action wherever it is applied from today to 365 days in the future
• You can also create multiple alerts and Auto Actions as needed by clicking "Add Another Alert" next to the desired alert
Auto Action Date Parameters
Date parameters allows you to apply Auto Actions within X days of the current date (stay date), or between X and Y days of the current date (stay date). This is useful if you want to target a specific booking window or ramp up occupancy when you get close to the stay date
• Date parameters are required for Less than alerts and they can be added or removed for Greater than alerts
• Click Save after any action is made
Important Factors
• After adding an Auto Action to your Greater than or Less than alert and pressing the Save button in the top right corner, your Auto Action will go into effect. The chosen rates will change on any day up to 365 days into the future for which the Auto Action alert is true
• After you press Save, the Auto Action may take up to 15 minutes to be applied to all Rates Plans, Room Classes, and Sources and to be fully reflected on the Rates Grid
• The Auto Actions are updated automatically every 20 minutes, in case your occupancy changes (such as having cancellations)
• Only one Auto Action is ever applied to a rate at any given time
• Rates are always updated from the base rate (not the previous price)
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