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Administrators control sleeping room pricing administration by setting up a series of pricing rules for each room. These pricing rules can be used to define benchmark rates for each of the different room types, a negotiation floor for sales representatives, minimum and maximum prices for each room type, and also costing rules for each room type. Exceptions to the established rates are typically used to adjust arrival day pricing and pricing exceptions on certain days of the week.
The pricing for each room type is an individual sleeping room item, or is included in a pricing matrix if matrix-based pricing is used. If a matrix is used, the benchmark room rate for the room type is defined as a line item in the matrix. For information on setting up matrix-based pricing, see Setting Up a Matrix Series.
Sleeping Room Pricing Administration is an important business process for the property revenue manager. The revenue manager performs a number of tasks as a part of setting up sleeping rooms. The various tasks that are performed in this process include:
These tasks are steps in Process of Setting Up Pricing and Property Pricing.
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