Setup Daily Room Rates (Cloud) 🎥
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Visual Matrix provides significant flexibility in rate management, allowing you to configure up to 12 different rates per room type per season. If you handle separate weekday and weekend rates, you can double this number. This setup encompasses the base rate, up to 9 tiered rates for different occupancy levels or time periods, and specific rates for weekly and monthly stays. This robust configuration enables you to customize your pricing strategy to various scenarios and booking patterns, optimizing revenue across diverse time frames and customer segments.
Path: Management > Rates > Room Rates
Rates are configured by season and room type, with options to copy rates between different room types or use rates from one season to establish a new one. Further details on these processes can be found in other articles.
1. Choose the season and room type for which you are setting rates.
2. Directly below, you'll see the selected room type and the dates of the season you chose.
3. If you've specified weekend days (indicating different rates for weekdays and weekends), you'll need to set rates for both. This is where you'll transition from the weekday setup screen to the weekend setup screen.
If you set up a weekend definition but do not enter rates, you won't be able to create reservations for those days and weekend reservations from your channel manager will not be integrated.
4. A few features are available on the right side:
- Tier Offset: A quick tool calculator to assist you in entering tier rates.
- Copy: Allows you to copy rates from one room type to another, including both weekdays and weekends if applicable.
5. The rates screen features columns for the number of persons and rows for tier rates, ranging from Base to Tier9. The last four columns are dedicated to weekly and monthly rates.
6. You need to enter rates for the number of people indicated for that room type on the top right.
7. Begin by entering the Base rates, including weekly and monthly rates if applicable.
8. You don’t need to enter Tier rates (1-9) if you don’t plan to use auto or manual tiering in Revenue Management. If you are only managing rates based on peak dates, Tier rates are not required. However, they can be useful for automatically adjusting rates according to your occupancy rate when using the revenue management live feature.
9. Make sure to save your entries before leaving the page, including before switching to the weekend rates setup page.
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