Bookshelf Home | Contents | Index | PDF |
Siebel Hospitality Guide > Setting Up Pricing and Property Pricing > Setting Up Average Values and Function TypesAverage 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: Depending on the values for these three parameters, each property can have different average values. Function types are set up globally in the list of values (LOV) through the LOV Administration view, and then every property can choose a subset of the list of values using the Property Pricing screen. This task is a step in Process of Setting Up Pricing and Property Pricing. To set up function types and average values
|
Siebel Hospitality Guide |