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    Rate Table

    Set up a new pricing structure for standalone rates in RMS.

    Table of Contents

    Rate StructuresRate Formats & Based OnNaming ConventionsSetupAdditional GuestsDynamic Pricing

    A Rate Table defines the fee structure for a standalone rate and the calculation point for an adjustment set on a Derived Rate in RMS.

    The Rate Table will determine how rates are calculated using the selected 'Format' and 'Based On' in addition to the values entered. The Rate Structure determines the availability of these calculation options and which Rate Types the Rate Table can be linked to within a Rate Lookup.

    Length of stay restrictions, additional guest fees, dynamic pricing rules, and package components can all be added to a Rate Table, with many of these rate elements available for setup on multiple layers of rate components. The Rate Hierarchy will determine which validation criteria and rate rules apply to a reservation when they exist on multiple layers of the rate setup. 




    Rate Structures

    The two rate structures of 'OTA' and 'Direct' will determine the fee calculation options available on the rate table and which channel connections the rate can be used with.

    A Rate Type and Rate Table can only be connected in a Rate Lookup when set up in the same rate structure.


    OTA

    The 'OTA' rate structure has limited fee calculation options available on the Rate Table to remain compatible with all available connections in the RMS Channel Manager. 

    Online Travel Agents broadly only accept per-period rates for a defined value (price per date), which is reflected in the available options on the Rate Table when using the 'OTA' rate structure.

    Some available channel connections will also accept an extended stay fee structure, and this option is also available on a Rate Table set up as the 'OTA' rate structure.


    Direct

    The 'Direct' rate structure is the most flexible for available fee structures on the Rate Table and can be used within RMS, on the RMS Internet Booking Engine, and with limited channel connections. The third-party determines the types of rates their channel will accept, which can be viewed in the channel's connection information article in the Help Centre.



    Rate Formats & Based On

    The Rate Structure selected on the Rate Table will change which calculation options are available, with each format including one or more 'Based On' options to further customise how the entered rate values will be calculated on a reservation.

    The following Rate Formats are available on a Rate Table in RMS:

    Daily

    The 'Daily' Rate Format is only available when the Rate Structure is set to 'Direct' and includes the 'Based On' options of Day of the Week, Number of Days, and Per Day. Daily rates count each date's reservation stay period from midnight to midnight, calculating these periods using the selected 'Based On' option.


    Day of the Week

    A daily rate based on the day of the week will be calculated using the specific day on which each reservation stay date falls with the ability to charge a different amount for the check-out day is included.

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    Using the above Rate Table, a reservation arriving on Thursday and departing on Sunday will pay the following rate amounts:

    Thursday (Arrival Day) - $100

    Friday -  $150

    Saturday - $150

    Sunday (Departure Day) - $50

    Total Rate: $450


    Number of Days

    A daily rate based on the number of days will use the reservation's length of stay to determine the rate amount for each reservation stay date.

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    Using the above Rate Table, a reservation staying three days will pay $180 per day, while a reservation staying seven days will pay $120 per day.


    Per Day

    A daily rate based on each day will be calculated using the value entered for each reservation stay date.

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    Using the above Rate Table, a reservation staying four days and departing on the fifth will pay the following rate amounts:

    Arrival Day - $250

    Day Two - $200

    Day Three - $150

    Day Four - $100

    Departure Day - $30


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    Extended Stay

    The 'Extended Stay' Rate format is available for the 'OTA' and 'Direct' Rate Structures. The 'Direct' Rate Structure will include the 'Based On' options of Night of the Week or Per Night, whilst the 'OTA' Rate Structure can only be set up as Night of the Week.

    Extended stay rates provide greater flexibility for longer-term reservations, using a combination of nightly, weekly, and monthly rate values to calculate the amount due for a reservation.

    A cap on the number of cycles a weekly or monthly rate applies can be set and once reached, the reservation will use the Best Available Rate for any additional reservation stay dates.

    The 'Extended Stay' Rate Table can be used to set up a weekly or monthly rate or to create a single rate that accommodates short and long stays by utilising all three sections.

    The below examples of different lengths of stay demonstrate how the rate will be calculated using the above Rate Table.

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    A reservation for six nights or less will use the 'Nightly' rate amounts entered on the Extended Stay Rate Table.

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    A seven-night reservation will use the weekly rate instead of the nightly rate.

    This weekly rate will be used for each seven-night block of the reservation.

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    The weekly rate amount will only apply to each seven-night block. The above example calculates the rate using 1 x Weekly Rate + 1 x Nightly Rate for the eight-night reservation.

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    A fourteen, twenty-one, or twenty-eight-night reservation will multiply the weekly rate by each block of seven days.

    Above, 4 x Weekly Rate = $5,680.

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    The monthly rate applies for each calendar month, from the first of one month to the first of the following month.

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    Any reservation stay date above the calendar month will use the nightly and/or weekly rate amounts for the remaining reservation dates.

    Above 1 x Monthly Rate + 1 x Nightly Rate = $5,755.

    Below 1 x Monthly Rate + 2 x Weekly Rate = $8,370.

    If the nightly, weekly, or monthly rate amounts are not set, they will be skipped during the calculation once a reservation reaches that length of stay, and the next available block will be used instead.

    Weekly and monthly rates are divided evenly across the reservation stay dates, which will affect the individual transactions when using the nightly rate and the allocated revenue per reservation stay date.

    Setting a cap on the number of cycles a weekly or monthly block can be used will revert to the Best Available Rate for all additional reservation stay dates once that cap is reached.

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    Hourly

    The 'Hourly' Rate Format is only available with the 'Direct' Rate Structure and does not include any alternative 'Based On' options. The rate amount for a reservation will be calculated per hour using the values entered on the Rate Table with options to set a flat hourly rate after ten hours or loop back to begin at the first hourly rate after a set number of hours is reached.

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    Using the above Rate Table, a reservation staying six hours will pay $425 total based on the following calculation:

    First Hour - $100

    Second Hour - $75

    Third Hour - $70

    Fourth Hour - $65

    Fifth Hour - $60

    Sixth Hour - $55

    Total Rate: $425

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    Using the above Rate Table, a twelve-hour reservation will pay $1,100 total (10 x $100 + 2 x $50).

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    Using the above Rate Table looping back after five hours, a six-hour reservation will pay $515 using the following calculation:

    First Hour - $100

    Second Hour - $85

    Third Hour - $85

    Fourth Hour - $85

    Fifth Hour - $60

    Sixth Hour (Loops back to First Hour Price) - $100

    Total Rate: $515


    An eight-hour reservation will pay $685 using the following calculation:

    First Hour - $100

    Second Hour - $85

    Third Hour - $85

    Fourth Hour - $85

    Fifth Hour - $60

    Sixth Hour (Loops back to First Hour Price) - $100

    Seventh Hour - $85

    Eighth Hour - $85

    Total Rate: $685


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    Nightly

    The 'Nightly' Rate Format is available for the 'OTA' and 'Direct' Rate Structures. The 'Direct' Rate Structure includes the 'Based On' options of Night of the Week, Number of Nights, and Per Night, whilst the 'OTA' Rate Structure can only be calculated using the Night of the Week option.

    Unlike daily rates, nightly rates calculate each reservation stay date from the check-in time on the arrival date to the check-out time of the following date to determine the length of stay.


    Night of the Week

    A nightly rate based on the day of the week will be calculated using the specific day on which each reservation stay date falls.

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    Using the above Rate Table, a reservation arriving on Thursday and departing on Sunday will pay the following rate amounts:

    Thursday (Arrival Day) - $775

    Friday - $825

    Saturday - $825

    Total Rate: $2,425


    Number of Nights

    A nightly rate based on the number of nights will use the reservation's length of stay to determine the rate amount for each reservation stay date.

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    Using the above Rate Table, a reservation stay four nights will pay $725 per night whilst a reservation staying seven nights will pay $650 per night.



    Per Night

    A nightly rate based on each night will be calculated using the value entered for each reservation stay date.

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    Using the above Rate Table, a reservation staying four nights will pay the following:

    First Night (Arrival Day) - $820 

    Second Night - $775

    Third Night - $750

    Fourth Night - $725

    Total Rate: $3,070


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    Per Guest

    The 'Per Guest' Rate Format is only available with the 'Direct' Rate Structure and will calculate the rate amounts per reservation stay date based on the number of adults and children entered as guests.

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    Using the above Rate Table, a three-night reservation with two adults and one child will pay $405 per night for a total of $1,215.


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    Naming Conventions

    A systematic formula for naming all rate components in RMS will streamline rate setup by keeping everything neatly together and making it easier to find. It will also simplify future rate maintenance, making rate setup in RMS far easier to manage.

    The naming conventions used for rate components are ultimately up to you, and the most crucial element is to keep them consistent throughout.

    Below are some naming conventions that can easily be used for Rate Tables to organise and identify them in RMS.

     

    YYYY - Period - Rate Type - Category (2024 - PEAK - BAR - Acacia Cabin)

    YYYY - Rate Type - Period - Category (2024 - BAR - PEAK - Acacia Cabin)

    YYYY - Category - Rate Type - Period (2024 - Acacia Cabin - BAR - PEAK)

    YYYY - Property - Period - Rate Type - Category (2024 - The Lake House - OFF PEAK - S4P3 - Lake Cabin)

    YYYY - Property - Rate Type - Period - Category (2024 - The Lake House - RACK - HIGH - Lake Cabin)

    YYYY - Property - Category - Rate Type - Period (2024 - The Lake House - Lake Cabin - BAR - PEAK)

    YYYY - Rate Type - Category (2024 - Long Term - Rental Cabins)






    Setup

    Have your System Administrator complete the following.

    1. Go to Charts > Rate Manager in the side menu of RMS.
    2. Select the 'Rates' icon and 'Rate Tables'.
    3. Select the 'Add' icon.
    4. Enter a Description.
    5. Select a Rate Structure.
    6. Select a Format.
    7. Select a Based On.
    8. Optional: Enter the Person Base.
    9. Enter the Rate Amounts.
    10. Save/Exit.


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    Additional Information

    The selected Rate Structure and Rate Format will determine the 'Based On' selections.

    Entering a 'Person Base' will indicate the number of guests included in the entered rate amounts before any additional guest fees will occur.


    'Rate' is a default System Label that can be customised and may be named differently in your RMS.

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    Access

    System Administrators will require Security Profile access to the 'Rate Manager Chart' and 'Rate Tables' to complete this setup in RMS.


    Go to Charts > Rate Manager in the side menu of RMS.

    Select the  'Rates' icon and 'Rate Tables'.

    Select the  'Add' icon.

    Enter a Description.

    Select a Rate Structure.

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    The selected Rate Structure will change the available Rate Formats and 'Based On' options and determine which Rate Types this Rate Table can link to within a Rate Lookup.

    Select a Format.

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    The Rate Format defines the calculation method used for a reservation when this Rate Table is in effect.

    Select a Based On.

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    The selected Rate Structure and Rate Format will determine the available 'Based On' options. If this field is locked, no alternative options can be set for this Rate Structure and Rate Format combination.

    The 'Per Guest' Rate Format will not display a 'Based On' field.

    Optional: Enter the Person Base.

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    The value entered will be used to calculate the number of guests included in the base rate amounts entered when additional guest fees are set up.

    Enter the Rate Amounts.

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    The values entered here will become the base rate amount, with the total rate impacted by any dynamic pricing rules, additional guest fees, discounts, or package components.

    Select the  'Save/Exit' icon to store the changes made and leave the Rate Table setup.

    This Rate Table will now be available to link within a Rate Lookup and set up additional pricing components.





    Additional Guests

    Additional Guest Fees on a Rate Table allow for the definition of the number and type of guests included in the entered base rate amount and the cost for any guests above these values.

    Have your System Administrator complete the following.

    1. Go to Charts > Rate Manager in the side menu of RMS.
    2. Select the 'Rates' icon and 'Rate Tables'.
    3. Select an existing Rate Table and the 'Edit' icon.
    4. Navigate to the 'Additionals' tab.
    5. Enter the Number Included in the Base for each Additional Guest Type.
    6. Optional: Select the 'Include in Base' checkbox.
    7. Optional: Select a General Ledger Account Code.
    8. Optional: Select the 'Show on Account' checkbox.
    9. Enter the Minimum and Maximum Allowed for each Guest Type.
    10. Select a Fee Calculation option.
    11. Enter the Additional Guest Fees.
    12. Save/Exit.


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    Additional Information

    The 'Adults' Guest Type will use the Person Base entered on the Rate Table to determine the number of this type included before any additional guest fees apply.

    Guest Types and Additional Guest Types can be customised in System Labels.


    'Rate' is a default System Label that can be customised and may be named differently in your RMS.

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    Access

    System Administrators will require Security Profile access to the 'Rate Manager Chart' and 'Rate Tables' to complete this setup in RMS.


    Go to Charts > Rate Manager in the side menu of RMS.

    Select the  'Rates' icon and 'Rate Tables'.

    Select an existing Rate Table and the  'Edit' icon.

    Navigate to the 'Additionals' tab.

    Enter the Number Included in the Base for each Additional Guest Type.

    Optional: Select the 'Include in Base' checkbox.

    Optional: Select a General Ledger Account Code.

    Optional: Select the 'Show on Account' checkbox.

    Enter the Minimum and Maximum Allowed for each Guest Type.

    Select a Fee Calculation option.

    Enter the Additional Guest Fees.

    Select the  'Save/Exit' icon to store the changes made and leave the Rate Table setup.

    These fees will be used to calculate the additional guest fees on a reservation when more than the base number of included guests is entered.





    Dynamic Pricing

    Dynamic Pricing is a feature available on a Rate Table that automatically adjusts the rate amount based on occupancy and time rules in RMS.

    Adjustments can be set as a positive or negative flat amount or percentage adjustment, or an alternate Rate Table can be used once the criteria are met. Dynamic Pricing rules can be based on an occupancy percentage, lead time to arrival, or a combination of both.

    The occupancy percentage used for dynamic pricing is determined by the Occupancy Calculation Rule option set up on the property. It can be based on the category occupancy or overall property occupancy.

    Fluctuations in reported revenue due to dynamic pricing adjustments can be tracked using the Dynamic Pricing Profit/Loss Summary report, with applied adjustments visible in the Total Rate Breakdown on a reservation.

    Derived Rates set up to calculate from a standalone rate that includes dynamic pricing rules will be calculated using the linked rate's base rate plus dynamic pricing adjustment to determine the derived rate amount.


    Have your System Administrator complete the following.

    1. Go to Charts > Rate Manager in the side menu of RMS.
    2. Select the 'Rates' icon and 'Rate Tables'.
    3. Select an existing Rate Table and the 'Edit' icon.
    4. Navigate to the 'Rate Setup' tab.
    5. Dynamic Pricing by Occupancy:
      1. Select the 'Occupancy' icon and 'Add'.
      2. Enter the Occupancy Range.
      3. Select an Adjustment Type.
        1. Rate Adjustment:
          1. Select the Adjustment Type.
          2. Enter the Adjustment Amount.
          3. Optional: Select the checkbox 'Include Additionals in calculation'.
        2. Create New Rate Based on Existing:
          1. Select an existing Rate Table.
          2. Enter the new Rate Table Name.
        3. Use Existing Rate:
          1. Select an existing Rate Table.
      4. Save/Exit.
    6. Dynamic Pricing by Time:
      1. Select an Occupancy Range.
      2. Select the 'Time' icon and 'Add'.
      3. Select the Time option.
      4. Select and enter the Rate Adjustment.
      5. Save/Exit.
    7. Save/Exit.


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    Additional Information

    The default occupancy range of 0-100% can be used if only a lead time dynamic pricing rule is required, or a lead time component can be added to any occupancy range rule to set the rate adjustment criteria to require both the occupancy range and lead time to be met.


    'Rate' is a default System Label that can be customised and may be named differently in your RMS.

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    Access

    System Administrators will require Security Profile access to the 'Rate Manager Chart' and 'Rate Tables' to complete this setup in RMS.


    Go to Charts > Rate Manager in the side menu of RMS.

    Select the  'Rates' icon and 'Rate Tables'.

    Select an existing Rate Table and the  'Edit' icon.

    Navigate to the 'Rate Setup' tab.


    Dynamic Pricing by Occupancy

    Select the  'Occupancy' icon and 'Add'.

    Enter the Occupancy Range.

    Select an Adjustment Type.

    Rate Adjustment:

    Select the Adjustment Type and enter the Adjustment Amount.

    Optional: Select the checkbox 'Include Additionals in calculation'.

    Create New Rate Based on Existing:

    Select an existing Rate Table.

    Enter the new Rate Table Name.

    Use Existing Rate:

    Select an existing Rate Table.

    Select the  'Save/Exit' icon to store the changes made and return to the Rate Table setup.


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    Dynamic Pricing by Time

    Select an Occupancy Range.

    Select the  'Time' icon and 'Add'.

    Select the Time option.

    Select and enter the Rate Adjustment.

    Select the 'Save/Exit' icon to store the changes made and return to the Rate Table setup.

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    Select the  'Save/Exit' icon to store the changes made and leave the Rate Table setup.

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    Tip: Use the  'Copy Rate Table' icon to set up a new Rate Table with these dynamic pricing rules already populated.







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