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Sleeping Room Pricing Administration

Each property administrator typically sets up the property-specific benchmark rates for each of the different room types defined for the property. The defined rates apply to the sleeping room types when the active flag is set. Exceptions to the established rates are typically used to adjust arrival day pricing and pricing exceptions on certain days of the week. When defining exception rates, the exception flag must be set in the sleeping room type record, or the benchmark rate is used. It is not possible to define an exception for a day that is not in the effective date range specific to a room type.

The pricing for different room types varies, according to the following conditions:

• Room type
• Day of the week
• Season
• Special date (overrides)

The pricing for each room type is an individual line item in a price list, 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. There are seven benchmark prices for each room type representing individual benchmark prices for each day of the week. Additional adjustments to the benchmark prices are implemented using matrix-based pricing factors that outline pricing adjustments such as price overrides, price markup, discount amount, discount %, and % mark up.

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:

1. Setting Up Rates for Different Sleeping Rooms
   1. Creating Default Prices
   2. Creating Exceptions to Default Prices
2. Defining Government Sleeping Room Pricing Types and Rates
3. Setting Up the Negotiation Floor Rate and Exceptions
4. Defining Weekend Prices