Add / Edit Rate Types

Hotelitix apprAIse supports unlimited number of Rate Types. Users can create rate types to handle pricing for various yield segments and rate plans. The number of rate types will depend on how granular the user wants to be with pricing. To add or edit a rate type, click on the Settings tab on the left-side menu bar and select the Rate Type option in the submenu.

Add a Rate Type by clicking the Create new rate type button. 

In the Rate Type Details window, fill out the rate information as follows:

Rate Type: Enter the desired name or code for this Rate Type

Allow Decimals: If checked, Hotelitix will price to the decimals level. Leave uncheck to round to nearest whole number.

Pricing Method: Select Yieldable if the rate type is used in connection to a dynamic rate strategy. Select Non-yieldable for yield segments and rate plans with fixed negotiated pricing such as Group Blocks, Corporate rates, Airline/Crew, etc.

Rate Linkage: Yieldable rate types allow the user to derive the Rate Type pricing either from the RMS Base Rate or derive pricing from another Rate Type. When the latter option is selected, the user must select the desired Parent Rate to be used.

Rate Differential: Enter the desired type of pricing adjustment for this Rate Type.

• Keep same as Base/Parent - Sets pricing at the same level as the RMS base rate or the selected parent rate.
  
  
• Adjust by Amount - Sets pricing by applying a fixed amount offset from the base or parent rate.
  For example, selecting increase and entering a value of 20 will make this Rate Type $20 higher than the base or parent rate.
  
  
• Adjust by Percent - Will increase/decrease the rate by a percent value
  For example, selecting decrease and entering a value of 25 will make this Rate Type 25% lower than the base or parent rate.
  
  
• Adjust by Amount then Percent - Applies a fixed Amount adjustment and then a Percent adjustment
  
  
• Adjust by Percent then Amount - Applies a Percent adjustment and then a fixed amount adjustment

Select Room Types: Users can make the rate type available for all room types (most common) or they can create the rate type for specific room types only.

Advance settings are designed to help users identify costly reservations with high commissions and deep discounts. This is particularly important during peak season when properties want to maximize the revenue opportunity in high occupancy dates.

Pricing Structure: Select Gross rate if reservations under this Rate Type generally do not have commissions deducted in advance. Select Net rate if commissions are deducted in advance from the rate. 

Distribution cost: Enter the commission or margin value associated with this Rate Type. Select the currency option to use a fixed amount commission, i.e. $20 or set it to % to track as a percent commission/margin.

Group block: Mark this box if this Rate Type is used for a group or block. Leave unchecked if this rate code is used for transient business.