Siebel Hospitality Guide > Setting Up Pricing and Property Pricing > Sleeping Room Pricing Administration >

Setting Up Rates for Sleeping Rooms

When setting up rates for sleeping rooms, the administrator first sets up the default rates and then creates exception pricing.

This task is a step in Sleeping Room Pricing Administration.

Creating the Default Sleeping Room Pricing Rules

The administrator defines the default sleeping room pricing types and then sets the rate for each type. The defined rates apply to the sleeping room types when the active flag is set.

To create default sleeping room pricing rules

1. Navigate to the Property Pricing Admin screen > Properties list.
2. In the Properties list, select the required property and click the link in the Property Name field.
3. Click the Sleeping Rooms view tab.
4. In the Sleeping Rooms list create a new record, complete the fields, and save the record.

   The following table describes some of the fields.

   Field	Comments
   Sleeping Room	Select the sleeping room for which a rule is to be defined.
   Start Date	The date from which this rule will apply.
   Start Day	This field is automatically populated when the Start Date field is completed.
   End Date	The date on which this rule will no longer apply. There is some validation on the Start and End Dates as follows: End Date >= Start Date + 365 This means that a function space pricing rule can only run for one year at the most.
   End Day	This field is automatically populated when the End Date field is completed.
   Type	Select the appropriate rule type. There are six types as follows: Benchmark. The price at which the room is generally rented. Floor (Negotiation Floor). The variance from the benchmark room price below which a sales representative cannot negotiate prices for the room. For example, if the benchmark room price is 90 dollars, and the Floor is 20 dollars, then the sales representative cannot negotiate below a price of 70 dollars for the room. Floor %. Indicates the percentage variance from the benchmark room price below which a sales representative cannot negotiate prices for a room. Define either a Floor rule or a Floor % rule for each sleeping room type. Minimum. The minimum price at which a room may be rented. Maximum. The maximum price at which a room may be rented. Cost. Revenue Managers can define the costs associated with each sleeping room type at the property. The values entered are used to calculate the sleeping room profit, based on the event's arrival date. If the cost is defined for a date range, it is used to calculate the profit for all event opportunities scheduled to arrive within the date range. Generally, a set of rules is created for each sleeping room type.
   Monday - Sunday	These fields represent the value for each day of the week for the specified rule type. If the pricing rule runs for less than one week, then it will only be possible to edit the fields for the relevant days.
   Comments	Comments on the rule.

5. When you have created all the necessary pricing rules, click Apply. The Sleeping Rooms Pricing Controls list is populated with all the rules that you have created.

   If you wish, you can make direct changes to the prices in the Pricing Controls list. These edited prices will take precedence over the rules originally created.

Creating Exceptions to Default Sleeping Room Pricing Rules

The administrator can define exception rates for each rule type after the rule has been created. An administrator can define an exception by creating a new rule that has effective start and end dates. The newly created rule will take precedence over the existing rule when the quote price is calculated.

To create exceptions to the default sleeping room pricing rules

1. In the Sleeping Rooms list, create a new record with similar values to the rule for which you wish to create an exception.
2. Set the Start Date and End Date fields, and the sleeping room price from Monday to Sunday as appropriate.
3. Click Apply. The new rule appears in the Sleeping Room Pricing Controls list.