The Group Recommendation tool is a valuable resource for determining appropriate rates for groups based on your available group pricing structure. Before using this tool, it is necessary to provide certain key information. The minimum daily rates and group discounts are utilized to calculate the recommended rates for groups. You can access the Group Recommendation tool within the Rate Calendar.
Firstly, you need to input the minimum daily rates for groups. This can be done for each segment on a per-weekday or per-month basis. By setting these minimum daily rates, RevControl ensures that rates suggested will never fall below the specified minimum. The table containing the minimum daily rates can be conveniently exported to Excel using the green export button.
The next step is to complete the group discounts section. In this section, you can assign discounts to different group sizes per segment. This is where you establish your group strategy. You have the option to add various discounts or markups to the three levels of total revenue. The three levels of revenue and the three categories for the number of nights can be customized according to your preferences. When entering discounts, you can use both percentages and numerical values. To indicate a discount on the recommended rate provided by RevControl, be sure to include a minus sign (-) before the percentage or number. It's important to note that the recommended rate will never be lower than the minimum daily rate. Additionally, markups can also be entered as percentages or numerical values.
Now you are ready to use the Group Recommendation tool! The Group Recommendation tab enables you to calculate the appropriate room rate for groups. It utilizes various data points such as the number of rooms, additional F&B revenue, banqueting revenue, and other potential revenue to determine the room rate based on the availability of your hotel. To calculate the recommended rate for groups, please follow these steps:
Step 1: Enter the group name, arrival and departure dates, and the anticipated revenue that the group will generate for your hotel. You can also select the corresponding business segment from your PMS. Click the "Get Rate" button to proceed to the next step.
Step 2: In this window, you will determine if the group can be accommodated based on the available rooms for the specified date. If the group recommendation is displayed as green and "OK", it indicates that there are sufficient rooms available. However, if a red and "NOT OK" warning is shown, it means that there are not enough rooms to accommodate the group. Additionally, the recommended rate will be displayed. This rate is calculated using the pricing strategy defined in step 1. It takes into account the anticipated revenue, minimum daily rate, group discounts, and additional revenue income.
The breakdown per day provides information on scheduled events for the selected date, current business on the books, forecasted room nights, and the current published rate. This data can be reviewed to understand how the recommended price is calculated. The group recommendation logs allow you to access past group recommendations. You can specify the date and user to refine your search and retrieve relevant information from previous recommendations.