PREVAILING RATE CODE Application Setting

Group. Rates

Type. Setting

Application. PMS

ORMS

Description. The rate code that will be referenced in the sell process as the 'Prevailing' Rate. The Rate Code defined here signifies to Opera which rate code to update/create rates against when receiving from TLP the proposed Bid Prices/Hurdles.

Internal Name. PREVAILING_RATE_CODE

Property Determination. The prevailing rate code identified by this setting tells Opera which rate code will hold the rate amounts (prevailing rates) created or updated based on the length of stay hurdle/bid prices from ORMS or the legacy revenue management system TLP. The prevailing rates will be calculated automatically and dynamically by Opera's Rates by Day by Room Type by LOS process. For this reason, in order for a rate code to be selected as the prevailing rate code via the Rates>Prevailing Rate Code application setting, the rate code must meet the following criteria:

It must not have rate details configured.
If the Rates>Rate Tiers application function is set to Y for the property, the rate code must not be flagged as Tiered.

The rate code must be of the same currency as the Yield Currency Code, set by the General>Yield Currency Code application setting, available when the ORMS OPO_, OPK_, and OPH_ license codes are active, or the TLP OPP_OPUS add-on license is active. If the property is not using ORMS or TLP, the rate code must be of the same currency as the property's default currency.

Activation / Inactivation Rules.

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Available Values.

Configured active rate codes that do not have any rate details defined, are not marked as Tiered rates, and are of the same currency as the YIELD CURRENCY CODE.

Add On Licenses/Country Specifics.

Available when the when the ORMS OPO_, OPK_, and OPH_ license codes are active, or the TLP OPP_OPUS add-on license is active.

Other Application Settings.

Visible when PREVAILING RATE application function is active.

Affected Areas

Menus / Screens / Fields.

Configuration>Setup>Business Events>Configuration>External System = Channel>Module = Rate>Apply Prevailing Rates

Reports & Report Forms.

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Permissions.

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Other Areas.

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