Siebel Hospitality Guide > Setting Up Pricing and Property Pricing >

Pricing and Property Pricing

Event sales representatives and revenue managers are responsible for setting prices for products and services that are sold to individuals and groups requiring sleeping rooms, function space, and catering products at a property.

Prices quoted to customers vary by property, product type, customer, date, day or week, day part, number of nights required, and other factors. The property must establish the base prices for sleeping rooms, function space, and other ancillary products (for example, food and beverages or use of audiovisual equipment) that are sold during an event.

Event quotes that are furnished to the customer for anticipated goods and services include prices derived from a rules-based pricing system that relies on predefined data. Further negotiations with the customer results in a finalized quote (with price overrides) that is converted into an order.

Hospitality pricing administration typically consists of three processes:

• Pricing data management and pricing administration
• Opportunity, quote, and order pricing
• Revenue management and profitability analysis

Property Pricing Visibility

The users that should have access to the Property Pricing views are:

• Property Revenue Managers. Revenue managers of a property can only see their own rates.
• Regional Revenue Managers. Revenue managers of a Cluster of properties can see data for multiple properties for which they are responsible.
• Corporate Revenue Managers. Corporate managers are able to see data at a national level for multiple properties.