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Siebel Hospitality Guide > Managing Property-Specific Event Quotes > Reviewing Revenue Estimates for Quote Functions > Reviewing Parent Revenue Category Revenue EstimatesReview the parent category revenue estimates from the Revenue Estimates view. Parent Category estimates take into account the revenue estimates for functions, their subfunctions, and child subfunctions. The section details how to review function revenue estimates, and also details how these estimates are calculated for functions with subfunctions. Reviewing Function Revenue EstimatesWhen reviewing the revenue for function space rental, you may notice that the values contained in the fields may reflect a number of different function spaces. This is because the revenue totals for all active function spaces are reflected in this view. There may be more than one active space if you have switched from a function space to its backup spaces. For more information about switching, see Switching to the Backup Space. This task is a step in Reviewing Revenue Estimates for Quote Functions. To review function revenue estimates
Overriding the Average Values for Subfunction CategoriesDuring the initial setup of a property's average values, the revenue manager assigns average values to the various function types that exist at a property. The revenue manager uses past history to estimate the average revenue contributions associated with each function type. During the opportunity capture stage, the sales representative may not fill in all information about a function, and may decide to keep the function details at a very high level. As a result, only the details of the main functions may have been added to the event agenda, and not subfunction details. This means that when the sales representative decides to detail the function by adding subfunctions, the revenue contributions are added twice to the function. This is because some of the categories for the function may be added at both the function level initially and then at the subfunction level when the function is detailed. For example, a Meeting function may be added to an opportunity with an Audio Visual and Coffee Break revenue contribution. Later, the sales representative may decide that the Coffee Break should be added as a subfunction of the main function. In this case, the revenue contribution for the function has been added twice. In order to make sure that the revenue contribution is not mistakenly counted twice, an average value override for subfunctions has been put in place in Siebel Hospitality. This average value override is subject to a number of rules as follows:
The rules for function category average value overrides are illustrated in the following examples:
Example 1: One Main Function that Contains Two SubfunctionsTable 8 provides the details of the main function. Table 9 provides the details of the first subfunction. If the user indents Subfunction 1 under Function 1, then Rule: 1 applies; The subfunction category revenue estimate takes precedence over the estimate that exists at the parent function level. Table 10 shows the changes to Function 1 when Subfunction 1 is indented. The Coffee Break revenue is overridden and is set to 0 at the parent function level. This means that the revenue estimate that is displayed at the quote level would be as shown in Table 11. At this stage, the sales representative decides to add another subfunction to the parent function, Function 1. Table 12 shows the details of this subfunction. When this subfunction is added, Rule: 2 is applied; Multiple subfunction revenues of the same category are added together. This is shown in Table 13. The revenue estimate that is now displayed at the quote level is shown in Table 14. Example 2: One Main Function that Contains a Subfunction and a Child Subfunction of the SubfunctionTable 15 provides the details of the main function. Table 16 provides the details of the subfunction. If the user indents Subfunction 1 under Function 1, then Rule: 1 applies; The subfunction category revenue estimate takes precedence over the estimate that exists at the parent function level. The revenue estimate that is displayed at the quote level would be as shown in Table 17. The sales representative then decides to add a child subfunction to the existing function. The details of this child subfunction are shown in Table 18. Table 19 shows the changes to the Subfunction 1 when Child Subfunction 1 is indented. Rule 3 is the applied: The subfunction category revenue override facility overrides one function level higher than the level at which it exists. The revenue estimate that is displayed at the quote level would then be as shown in Table 20. |
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