During the installation, you will complete the Business Rules. The Business Rules consist of four components: minimum daily rates, maximum daily rates, occupancy supplements, and minimum length of stay. Ultimately, these Business Rules form the basis for the occupancy-based rate recommendation and can be considered as your pricing strategy.
When determining the occupancy-based rate recommendation, a minimum rate must be established thirteen months in advance. The minimum daily rate ensures that when RevControl Auto Publish is enabled, the system will never fall below the minimum rate. In this overview, you can enter the minimum rates per month and per day for the entire hotel. Hotels may also have the option to enter minimum rates per room type. If multiple room types can be selected, the minimum daily rates must be filled in separately for each room type.
The subsequent step involves setting the maximum daily rates. This functionality can be activated by the Customer Success team. Within this feature, you have the ability to establish the maximum rates either for the entire hotel or on a per-room-type basis. When RevControl Auto Publish is enabled, the system will ensure that rates never exceed the defined maximum. Manually adjusting rates in the rate calendar is the only way to exceed the maximum daily rates, but RevControl will issue a warning when such changes occur.
Following that, you will proceed to input the occupancy supplements. The minimum rate constitutes the initial component of the occupancy-based rate recommendation, indicated in the left column. The subsequent element encompasses the occupancy supplements. The determination of occupancy hurdles depends on the hotel's size. Once the forecasted occupancy surpasses a specific hurdle, a supplement is added to the minimum daily rate. It is necessary to populate these supplements based on your pricing strategy.
Please bear in mind that the occupancy supplements are not cumulative, and their calculation relies on the forecast. Optionally, you can base them on the current business on the books. Moreover, you have the flexibility to enter occupancy supplements for multiple room types, necessitating separate input for each room type.
The final step entails configuring the minimum length of stay. In this section, you will specify the minimum duration of a guest's stay, taking into account daily, monthly, and occupancy-based thresholds. These thresholds are determined based on the hotel's size. When the forecasted occupancy, as calculated by RevControl, reaches a predefined occupancy threshold, the minimum length of stay restriction will be automatically activated. It is important to note that the minimum length of stay represents a stay-through restriction. For instance, if there is a minimum length of stay requirement of two nights for Saturdays, guests must book either Friday-Saturday-Sunday or Saturday-Sunday-Monday. Once again, you have the option to define the minimum length of stay separately for each room type.