A Rate Type is the charge description that identifies a pricing structure used on a Reservation.
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Information
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Setup
- Add Button
Information
A Rate Type is the charge description that identifies a pricing structure used on a Reservation.
Derived Rates determine their pricing using an adjustment amount set against the selected Master Rate Type.
A Rate Type will only be available for selection on a reservation if it has been linked with a Rate Period and Rate Table using a Rate Lookup.
The Rate Structure selected on the Rate Type will determine the type of Rate Table it can be linked with in a Rate Lookup.
Only a Rate Type and a Rate Table with a matching Rate Structure can be linked together.
The Rate Structure selected on the Rate Table will determine the pricing structures available.
Two Rate Structures are available that will determine how the Rate can be used and what calculation options are available.
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.
Enterprise customers can use Rate Type Property Rules to share a Rate Type between properties and maintain separate Rate Type rules or conditions per property.
The Rate Hierarchy determines which rate rules take precedence when a rule exists on more than one layer of the rate.
A Rate Type can be set to 'Inactive' to remove it from view.
A Rate Type Description can be used as a Promo Code on the RMS Internet Booking Engine without mapping that Rate Type in the Channel Manager unless the Rate Type Option 'Do Not Use as Promo Code' is selected.
The following Rate Type Options are available.
| Rate Type Option | Description |
|---|---|
| Advanced Purchase | The Advanced Purchase option can be used to setup a lead time of availability for a Rate Type. The lead time set will determine how far in advance from the 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. An Advance Purchase Rates set as 14+ Nights from Today will allow the Rate Type to only be available for Reservations booking at least 14 days ahead of their arrival at the property. |
| Best Available Rate | The Best Available Rate checkbox identifies the leading price for the Property and will be referenced on the Rate Manager Chart collapsed views. Only one Rate Type can be set as the Best Available Rate unless using Multiple Best Available Rates. |
| Booking Source | A Booking Source on the Rate Type will automatically apply the selected Booking Source to any Reservation where that Rate Type is selected. The Booking Source on a Rate Type can be used when the Rate Type is only available to be booked from a single source to eliminate the manual selection of the Booking Source by Users on each Reservation. |
| Cancellation Policy | The Cancellation Policy selected on the Rate Type determines the rules applied to a Reservation when changed to 'Cancelled' status. |
| Colour | The colour assigned to the Rate Type will be used to represent that Rate on charts and graphs throughout RMS. |
| Contracted Rate | A Rate Type setup as a Contracted Rate will be used to determine the availability if using the option 'Rate Types for Companies and/or Travel Agents'. |
| Discount | The selected Discount will be automatically applied to the Reservation when this Rate Type is selected. Assigning a Discount to a Rate Type can be used for promotional rates where there is a requirement to report on the deduction of accommodation revenue against the Discount General Ledger Account Code instead of the Category. |
| Do Not Allow Base Rate to be Overridden | Prevents any User from Overriding the Base Rate when this Rate Type is selected on the Reservation. This option can be used to restrict a User's ability to manually adjust an already discounted rate. |
| Do Not Use as Promo Code | This option will prevent the Rate Type Description being entered as a Promotional Code on the RMS Internet Booking Engine to gain access to a Rate Type that is not otherwise available. |
| General Ledger Account Code | Revenue for this Rate Type will be reported against the selected General Ledger Account Code instead of the General Ledger Account Code on the Category or Area. |
| Grouping | Rate Type Grouping can be used to track performance of a Rate Type individually or collectively and is also used to determine the Rate Types that contribute to Complimentary and House Use on the Night Audit Report. |
| Last Minute | The Last Minute option can be used to setup a lead time of availability for a Rate Type. The lead time set will determine how far in advance from the Arrive Date the Rate Type will become available and can be used to setup promotional offers only available for a limited time prior to the Arrive Date. A Last Minute Rate available -2 Nights Prior to Arrival makes the Rate only available if the selected Arrive Date is within the next two days. |
| Market Segment | The selected Market Segment will automatically be added to the Reservation when this Rate Type is selected. Assign a Market Segment to a Rate Type when the Rate Type is only applicable to a single Market Segment to eliminate manual selection on the Reservation. |
| Meal Plan | The selected Meal Plan will automatically be added to the Reservation when this Rate Type is selected. Meal Plans can be used when there are tiers of food and board provided by the Property including student accommodation, mining camps or military base accommodation. |
| No Discount Allowed | Prevents any Discount being added on the Reservation when this Rate Type is selected. Can be used to prevent double discounts on promotional rates, negotiated rates or contracted ratesw here a lower price has already been provided. |
| Only Available to Members | Members Only Rates are only available on the Reservation if valid membership details have been provided. |
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Refundable Charge |
A Refundable Charge on the Rate Type will create the selected Refundable Charge on the Reservation Account when this Rate Type is on the Reservation. |
| Show Availability as Ticks for RMS Online | This option only applies to the Rate Type on the Availability View Grid for the RMS Internet Booking Engine and will replace the price per date with a tick if the Rate Type is available on the viewed date. |
| Start Each Rate Period from Night 1 on the Rate Table | This option can be used for a Rate Type available across multiple Rate Periods where RMS should refer to the first night on the Rate Table when a Reservation Stay Date crosses into a new Rate Period instead of using the Reservation Length of Stay to determine the ordinal pricing in the new Rate Period. |
|
Travel Agent |
A Travel Agent on the Rate Type will automatically apply the selected Travel Agent to any Reservation where that Rate Type is selected. The Travel Agent on a Rate Type can be used when the Rate Type is only available to be booked from a single source to eliminate the manual selection of the Travel Agent by Users on each Reservation. |
Category, Area, Sundry, Rate & Tax are default System Labels that can be customised.
System Administrators will require Security Profile access to use this feature.
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Setup
- Add Button
Setup
Have your System Administrator complete the following.
- Go to Charts > Rate Manager in the Side Menu of RMS.
- Select the
'Rates' icon. - Select 'Rate Types'.
- Select the
'Add' icon. - Optional: Enter a Rate Code.
- Select a Rate Structure.
- Enter a Rate Type Description.
- Enter a Charge Description.
- Optional: Select a General Ledger Account Code.
- Enter a Long Description.
- Optional: Select the additional Rate Type Options.
- Save/Exit.
- Select the Rate Type Access and choose 'Apply'.
A Rate Type will only be available for selection on a reservation if it has been linked with a Rate Period and Rate Table using a Rate Lookup.
The Charge Description will be used when creating the Rate Transaction on the Reservation Account.
Rate Type Availability will determine the days of the week a reservation can arrive on using this Rate Type and the minimum or maximum length of stay required.
Rate Type Options selected at Step 11 will be overridden by any Property Rate Rules.
The selected Refundable Charge will be created on the Reservation Account with the Rate.
The selected Booking Source, Market Segment and Sub Market Segment, Meal Plan, Cancellation Policy or Travel Agent will populate on the Reservation when this Rate Type is selected.
Rate Type Access will determine if the new Rate Type is made available to existing Security Profiles, Travel Agents, Companies or Discounts.
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Guide
- Add Button
Guide
Go to Charts > Rate Manager in the Side Menu of RMS.
Select the 
'Rates' icon.
Select 'Rate Types'.
Select the 
'Add' icon.
Optional: Enter a Rate Code.
Select a Rate Structure.
Enter a Rate Type Description.
Enter a Charge Description.
Optional: Select a General Ledger Account Code.
Enter a Long Description.
Optional: Select the additional Rate Type Options.
The selected Refundable Charge will be created on the Reservation Account with the Rate.
The selected Booking Source, Market Segment and Sub Market Segment, Meal Plan, Cancellation Policy or Travel Agent will populate on the Reservation when this Rate Type is selected.
Select 'Save/Exit' to store the changes made and leave the setup.
Select the Rate Type Access and choose 'Apply'.
This Rate Type will be available for selection in a Rate Lookup when creating Rates.
Setup
Have your System Administrator complete the following.
- Go to Charts > Rate Manager in the Side Menu of RMS.
- Select the 'Rates' icon.
- Select 'Rate Types'.
- Select the 'Add' icon.
- Optional: Enter a Rate Code.
- Select a Rate Structure.
- Enter a Rate Type Description.
- Enter a Charge Description.
- Optional: Select a General Ledger Account Code.
- Enter a Long Description.
- Optional: Select the additional Rate Type Options.
- Save/Exit.
- Select the Rate Type Access and choose 'Apply'.
A Rate Type will only be available for selection on a reservation if it has been linked with a Rate Period and Rate Table using a Rate Lookup.
The Charge Description will be used when creating the Rate Transaction on the Reservation Account.
Rate Type Availability will determine the days of the week a reservation can arrive on using this Rate Type and the minimum or maximum length of stay required.
Rate Type Options selected at Step 11 will be overridden by any Property Rate Rules.
The selected Refundable Charge will be created on the Reservation Account with the Rate.
The selected Booking Source, Market Segment and Sub Market Segment, Meal Plan, Cancellation Policy or Travel Agent will populate on the Reservation when this Rate Type is selected.
Rate Type Access will determine if the new Rate Type is made available to existing Security Profiles, Travel Agents, Companies or Discounts.
-
Guide
- Add Button
Guide
Go to Charts > Rate Manager in the Side Menu of RMS.
Select the 'Rates' icon.
Select 'Rate Types'.
Select the 'Add' icon.
Optional: Enter a Rate Code.
Select a Rate Structure.
Enter a Rate Type Description.
Enter a Charge Description.
Optional: Select a General Ledger Account Code.
Enter a Long Description.
Optional: Select the additional Rate Type Options.
The selected Refundable Charge will be created on the Reservation Account with the Rate.
The selected Booking Source, Market Segment and Sub Market Segment, Meal Plan, Cancellation Policy or Travel Agent will populate on the Reservation when this Rate Type is selected.
Select 'Save/Exit' to store the changes made and leave the setup.
Select the Rate Type Access and choose 'Apply'.
This Rate Type will be available for selection in a Rate Lookup when creating Rates.
