With the Rate Management > Rate Floor parameter set to Active, the Rate Floor field on the Rate Code Configuration screen lets you set a minimum rate amount for the rate code. If you attempt to set a rate amount for an inventory room type that is lower than the rate floor limit, a message warns that Rate Detail cannot be saved.
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Rate floor evaluation is based on the Rate Floor Level of Control setting.
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Rate Level enables rate floor configuration at the rate code level.
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Room Type Level enables rate floor configuration at the room type level.
When initially setting the rate floor amount, or later changing the rate floor amount, you cannot specify a rate floor amount that is higher than a rate amount already set for a rate detail belonging to the rate code. Note: When configuring the rate detail for a pseudo room type only, you can set a rate lower than the rate floor for the associated rate code.
- From the Administration menu, select Financial, select Rate Management, and then select Rate Codes.
- If planning to edit an existing rate code, use the search function and select a rate code for editing. From search results, locate a rate code, click the row level vertical ellipsis, and select Edit.
- To create a new rate code, click New.
- On the Rate Code Configuration screen, scroll to the Rate Controls & Distribution panel and click Edit.
- Enter a Rate Floor amount.
- Click Save.