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Function Space Pricing Administration

An administrator or a property revenue manager can define benchmark rental fees for function space room types, and specify pricing exceptions using the Function Space Pricing Types list and the Function Space Rental fees list. The rental fees for each function space type may be adjusted according to the day of the week, the day part, as well as seasonal pricing variations. The administrator or manager must set up the defaults for daily rentals and then define any day part exceptions.

The user can define function space type prices at the category level, and the prices are applied to specific space associated with the category. Prices for specific space can be later modified, if necessary. If categories are not defined, the administrator defines prices for specific space.

The property revenue managers must complete some setup tasks for the function space pricing of the property. These tasks include the following:

1. Setting Up Pricing Day Parts
2. Defining Function Space Pricing Types and Rental Fees
3. Defining a Profit Series and Percentages
4. Defining Function Space Threshold Pricing
5. Setting Up Average Values and Function Types