Rate Calendar
The Rate Calendar is utilized to transmit the modified rates to the Property Management System or Channel Manager. You have the option to modify the date range of interest within the blue bar. Additionally, you can make adjustments to the rate plan.
The Rate Calendar is divided into daily boxes, each representing a day. Within the box, the published rate is visually depicted in green, orange, or red. The color indicates whether the published rate falls within the recommended rate margins. The recommended rate, shown in blue, is positioned above the published rate. By selecting the blue recommended rate, the system will adopt the recommended rate from RevControl. Below the published rate, four key performance indicators are displayed. Users have the flexibility to choose which key performance indicators they wish to view and can modify these settings in the user preferences. In the top right corner of the box, a lock icon is present, allowing users to secure the rate and prevent the system from overriding it. In the top left corner, an information button provides comprehensive details that form the basis of the pricing strategy.
Rates can be modified in four ways:
1. The recommended rate can be accepted by clicking the blue arrow.
2. Rates can be manually adjusted by clicking on the published rate, entering the new price, and saving the changes. Additionally, the day can be locked, and Minimum Length of Stay (MLOS) restrictions can be added.
3. Applying recommendations by clicking "apply recommendations" in the bottom right corner. The system can adopt all recommendations or only those marked as orange or red.
4. The bulk update feature allows for simultaneous rate and restriction adjustments for specific periods or days of the week. Furthermore, changes can be easily locked in to maintain consistency.
The information screen provides a comprehensive overview of the factors influencing the recommended rate. Internal factors are displayed on the left side, while external factors are shown on the right side.
To begin, the occupancy development of the past 21 days and the forecast are presented. If data is available in the Property Management System (PMS), reservations for the day are highlighted by segment. Key performance indicators for the current year and the previous year, along with the budget and variance, are also showcased. On the right side, events and weather conditions for the current year are compared with those of the previous year.
Moreover, the last recorded rate of competitors and the market demand are provided. Below the competitors, the rate recommendation is displayed. It includes the occupancy-based rate, competitor-based rate, recommended rate, minimum daily rate, and maximum daily rate. The system primarily follows the hotel's price strategy, indicated by the occupancy-based recommended rate. Only when the occupancy-based rate deviates from market conformity, the system switches to the competitor-based rate. An occupancy-based recommended rate is considered market conform if it falls within a margin of €5 higher or €10 lower than the competitor-based rate. Lastly, the published rates for various room types are shown.
