Siebel Hospitality Guide > Setting Up Pricing and Property Pricing > Administering Function Space Pricing >

Setting Up Average Values and Function Types

Average 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 the average values of a property.

In the hospitality industry, events might be planned two or three years into the future. The customer might not have all the details for each function, but only macro-level details. By comparing 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 parameters:

• Business type
• Function type
• Date/Day

Depending on the values for these parameters, each property can have different average values.

Function types and Business types are set up globally in the list of values (LOV) through the Administration - Data screen, List of Values view. Afterward, every property can choose a subset of the list of values using the Property Pricing screen.

This task is a step in Administering Function Space Pricing.

To set up average values and function types

1. Navigate to the Property Pricing Admin screen, then the Properties view.
2. In the properties list, select the required property record, and click the link in the Property Name field.
3. Select the Function Types view tab, create a new record and complete the fields with values appropriate to the function type.

   The following table describes some of the fields.

   Field	Comments
   Primary	Select this check box if this is the primary function type for the property.
   Name	Select a name from the drop-down list.
   Meal Period	Select a meal from the drop-down list if there is to be a meal during this type of function. If you select a Meal Period for this function type, the meal period is automatically chosen with the function type when a property-specific quote is generated.
   Description	This field is automatically populated when the Name field is completed.
   Active	Click this check box if the function type is active at this property.

4. Scroll down to the Type - Applicability Time list and create a new record.
5. Complete the following fields:
   • Business Type
   • Start Date
   • End Date

     NOTE:  The Start Day and End Day are automatically populated with the values from Start Date and End Date.

6. Scroll down to the Average Values list.
7. To populate the Average Values list with all revenue categories, click Revenue Category. Otherwise, click New to add individual categories.
8. For each record in the average values list, update the following fields:
   • Average Value
   • UoM
   • Service Charge or Service Charge % (These two fields are mutually exclusive. When you populate one of these fields, the other is immediately overridden.) Setup for these values is done at the property level. For more information, see Setting Up Charge Codes, Taxes, and Service Charges. However, you can specify a value here, if necessary, which will override the corresponding value for specific function type or parent revenue value.