Configuring Market Codes

A market code is required in each reservation and group block and is used track the room nights and revenue generated by each reservation for statistical purposes.

When defining these codes, you must assign the appropriate market group to each market code. When booking a reservation, you must select the appropriate market code by either entering the market code or selecting a rate code with the market code linked to it (the market code is automatically populated for you). Based on the market segmentation codes, OPERA Cloud can produce daily, month-to-date, and year-to-date statistics of revenue, number of guests, number of rooms occupied, and average room rate. Again, these market codes must be linked to a market group. In addition, monthly revenue budgets can be entered for each of the market codes.

Note:

All Market Codes can be distributed to multiple properties from the Generic Template Configuration screen if the MHOT Multi-property add-on subscription is active.

Adding a Market Code

  1. Select the Administration menu, select Booking, select Marketing Management, and then select Market Codes.

  2. Click New and complete the following fields:

    1. Property. Search for and select a property or confirm the property.

    2. Market Code. Enter an alpha-numeric code to be used for the market code (for example, FGOV, SGOV, GA, GC, CO, HS, CORP, LCORP, and so on).

    3. Description. Enter a description of the market code (for example, Federal Government, State Government, Group Association, Corporate Group, Complimentary, House Use, Corporate, Local Corporate, and so on).

    4. Manage Translations. (Available when the Multi Language function under the General group is active.) Select to open the multi-language descriptions screen and configure a language translation for the description.

    5. Market Group. Select the Market Group to which the market code belongs.

      For more information, see Configuring Market Groups.

    6. Color. Assign a display color code to any or all market codes to differentiate between reservations for each market segment on the Room Diary or Telephone Operator screens. In OPERA Controls, the Reservation Color Definition setting under the Reservations group must be set to MARKET CODE.

    7. Sequence. Enter a number that controls the position of this code in listings. Codes without a sequence number assigned are listed in alphabetical order following codes with a sequence assigned. 

  3. Click Save to save and exit or click Save and Continue to save this code and add another.

Editing a Market Code

  1. Enter search criteria and click Search.

  2. In the search results, select the code and click the vertical ellipsis.

  3. Click Edit.

  4. Inactive. Select to mark this code inactive. Inactive codes are not available for selection from lists in OPERA Cloud. The code remains for historical and statistical purposes only.

  5. Update the configuration and click Save.

Deleting a Market Code

  1. Enter search criteria and click Search.

  2. In the search results, select the code and click the vertical ellipsis.

  3. Click Delete and confirm the deletion.

Parent topic: Marketing Management