This FREE to use feature will enable you to maximise the revenue for each booking. Smart Dynamic Rate Management System based on property level inventory.
Why you should be using it?
- To drive up profitability for every room.
- The feature allows you to optimise your dynamic rates based on total inventory as opposed to the current per room availability structure. So, every room type works harder to get more revenue!
- It is a FREE additional feature for all MAX channel managert users.
How do I request for RMS?
To enable the feature, please contact your designated Partner Services team member.
- It is essential that the Total Room Count for each room type is setup correctly in “Room Type” Setup.
- This feature is not available for properties that manage rates via PMS.
RMS is enabled, what next?
Login to MAX extranet.
Go to Availability and Rates Module>Rates>Revenue Control. You will then be directed to start with RMS setup. This is a 5-step process:
Setting up STAAH RMS
1. Select Master Room: All Rates will derive from Rate that is set/applied for the Master Room selected.
- All Room Type(s) will be displayed as an option, to be selected as the Master Room.
- You can only have one Master Room.
- Note: Reset Master Room: This is used if you have selected the incorrect Master Room (i.e selected Deluxe as the Master, meant to be Superior).
- Select Master Room>Next.
2. Setting Seasons: You need to assign a season for specific dates/months to identify applicable seasonal prices.
Example: Shoulder, BAR High, BAR Low. Default season will apply automatically for any dates not assigned a specific season.
- Applying Seasons on a Monthly Basis using Calendar. Click on “From” date and then click “To Date”.
- Applying Seasons using Bulk Update. Use the Calendar widget to select your “From” and “To” Date(s). To add multiple date range simultaneously, click on the “+” sign.
- There are 5 seasons to choose.
- Apply Seasons> Next.
3. Dynamic Pricing: This is where you will define applicable Rate for each season (seasons, selected from previous tab), based on Total Inventory available. The rates loaded are for your Master Room.
- Enter your Inventory Count in the “From” and “To” fields. This allows you to define the rate for your Master Room based on Inventory Count.
- Enter applicable rates based on Availability and Seasons>Save.
- You need to assign Rates for each Season, covering the Total Inventory Count. (Example: Total Inventory Count is 30, must load rates per season to 0 availability)
- Once done>Save>Next.
4. Formula: Here is where you setup applicable formulas for all Child Room Type(s). The formula is calculated off the Master Rooms Rates (as setup in Dynamic pricing).
- Child Rates are derived from Master Rate using Formula applied.
- You are required to add a formula for All Child Room types.
- Properties have the ability to apply formula for week days and weekends. There is an option to add variable Weekend Formula.
- Weekend days is based on days marked as Weekend in “Weekend Marker” setup (Setup>Profile>Weekend Marker).
- If your weekday and weekend rates are the same, your weekend formula will be x 1 + 0 (Example: multiplier = 1, surcharge =0).
- Weekday Formula is calculated from Master Room Rates/Season Setup.
- Weekend Formula is calculated from Weekday Rate.
- Once you have added formula for both Weekdays/Weekends>Save>Next.
5. Revenue Control: A full overview of applicable rates for each Room Type. Rates displayed are calculated using setup applied in Seasons, Dynamic Pricing and Formula.
- All rooms and rates will be displayed.
- Rates displayed for all Child Rooms, are based on seasons/formula applied to derive from Master Room.
- Property can also identify Season applied for a specific date.
Example: In the below screenshot, there is a blue line above the rate. This indicates that BAR4 – low season is applied for that date.
- Properties also have the ability to manually adjust rate through the Revenue Control Tab. By selecting the applicable date/room you want to make changes too.
- When a rate is Manually updated, this will override Dynamic Pricing/Formula settings.
- Manual rate will no longer have the “Season” indicator (refer to above screenshot – 12 September).
- We have also added the ability for the property to see Formula settings. This is view only, to make changes to Formula, this must be done via the Formula tab.
- When Manually updating your Master Rate, you will have the option to update Rates for Child Rooms. You will see the following Pop Up.
-If you wish to make changes to Child Rates as well, select Ok>Update.
-If you wish to change Master Room Rate only select Cancel>Update.
- To switch from “Manual” to “Dynamic” mode.
- Control options>Mode>Uncheck Radio Button>Update.
- Bulk Update Mode change select “Mode” button.
- Select Mode>Select applicable Rooms.
- Enter date Range>Save.