Setting Base Rates for the next season sets your property up for success. Typically, your first set of Rates and Seasons were built for you by your Implementation Advisor. During your second Training with your Implementation Advisor this section was briefly reviewed. Briefly, because at that point, you had much more important things to learn and set up. Now you are ready to move on to another year.
By creating Base Rates for each year you will be able to utilize the Demand Management Tab throughout the year with ease and accuracy. By having annual Base Rates and then utilizing the Rates Grid for any subtle adjustments throughout the year you will get accurate comparisons year after year.
Having annual Base Rates will also allow you to get the most information possible out of the Demand Management Tab. You will be able to utilize the BOOST REVENUE button by setting up Alerts and Auto Actions.
Click HERE and HERE for information on Demand Management.
Step One – Create your SEASONS for the new year
Here are three examples below of how your seasons could currently look.
PRO-TIP - Be sure and name them properly so you will know what year they are for. You can create seasons for Rates, Policies, and Rules; label them appropriately and you won’t get confused later. Once a particular Season passes you can make it Inactive to keep a clean system.
Step Two – Create your RATES for the new year
If you are not changing the rates for the new year, you can open your current Rate Plans and just ADD the new seasons to the current Rate. DO NOT remove the old Seasons.
If you are changing your rates for the new year, you will need to create new Base Rates for your new seasons.
Other Items that apply to Seasons that may need attention
There are some other Items you should double check on. Since many Items have the “Apply To” section that will include, Seasons, Rates, Room Classes and Sources you will need to double check that those are still accurate. Many have the optional check box of ‘always available’, but a quick check certainly can’t hurt.
Derived Rates – If you offer any Derived Rates – those are rates based off the Base Rack Rate you will need to add the newly created seasons to those. For example, if you offer a Summer Special for July & August you will need to add the new July & August Season to that plan.
Policies – You will need to add any new seasons to all your Policies. If you have different Deposit or Cancellation Policies for High Season vs Low Season you will need to add the new Seasons to those Policies. If you have year-round policies double check the ‘always available’ box is checked and the new seasons will automatically be applied.
Rules - These are most commonly Minimum Length of Stay Rules but can also be rules restricting check-ins and check-outs. If there are specific seasons that you had to re-create for the year, they will need to be added. For Example, to continue this Rule into the next year the new Season would need to be added.
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