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Setting Up Average Values and Function Types

Average values define how much a property usually receives in revenue for a function similar to the one the customer is planning on holding. Projected revenue is derived from a property's average values.

In the hospitality industry, events may be planned two or three years into the future. The customer may not have all the details for each function, but only macro-level details. Based on these macro-level details, each hotel chain can analyze the historical records to determine the average amount of money spent by the customer or the average revenue the hotel has received for similar functions.

Average values are based on the following:

  • Business type
  • Function type
  • Date/Day

Depending on the values for these three parameters, each property can have different average values.

Function types and Business types are set up globally in the list of values (LOV) through the Administration - Data screen > List of Values list, and then every property can choose a subset of the list of values using the Property Pricing screen.

This task is a step in Function Space Pricing Administration.

To set up function types and average values

  1. Navigate to the Property Pricing Admin screen > Properties list.
  2. In the properties list, select the required property record, and click the link in the Property Name field.
  3. Select the Function Types view tab, create a new record and complete the fields based on the function type.

    The following table describes some of the fields.



    Select this check box if this is the primary function type for the property.


    Select a name from the drop-down list.

    Meal Period

    Select a meal from the drop-down list if there is to be a meal during this type of function. If you select a Meal Period for this function type, the meal period is automatically chosen with the function type when a property-specific quote is generated.


    This field is automatically populated when the Name field is completed.


    Click this check box if the function type is active at this property.

  4. Scroll down to the Type - Applicability Time list and create a new record.
  5. Complete the following fields:
    • Business Type
    • Start Date
    • End Date

      NOTE:  The Start Day and End Day are automatically populated with the values from Start Date and End Date.

  6. Scroll down to the Average Values list.
  7. If you wish to populate the Average Values list with all revenue categories, click Revenue Category. Otherwise, click New to add individual categories.
  8. For each record in the average values list, update the following fields:
    • Average Value
    • UoM
    • Service Charge or Service Charge % (These two fields are mutually exclusive—when you populate one of these fields, the other is immediately overridden.) Setup for these values is done at the property level. For more information, see Setting Up Charge Codes, Taxes, and Service Charges. However, you may specify a value here, if necessary, which will override the corresponding value for specific function type or parent revenue value.
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