11Setting Up Pricing and Property Pricing
Setting Up Pricing and Property Pricing
This chapter describes administrator procedures for setting up pricing of products and properties. It includes the following topics:
About Pricing and Property Pricing
Event sales representatives and revenue managers are responsible for setting prices for products and services that are sold to individuals and groups requiring sleeping rooms, function space, and catering products at a property.
Prices quoted to customers vary by property, product type, customer, date, day or week, day part, number of nights required, and other factors. The property must establish the base prices for sleeping rooms, function space, and other ancillary products (for example, food and beverages or use of audiovisual equipment) that are sold during an event.
Event quotes that are furnished to the customer for anticipated goods and services include prices derived from a rules-based pricing system that relies on predefined data. Further negotiations with the customer results in a finalized quote (with price overrides) that is converted into an order.
Hospitality pricing administration typically consists of three processes:
Pricing data management and pricing administration
Opportunity, quote, and order pricing
Revenue management and profitability analysis
Property Pricing Visibility
The users who must have access to the Property Pricing views are:
Property Revenue Managers. Revenue managers of a property can only see their own rates.
Regional Revenue Managers. Revenue managers of a Cluster of properties can see data for multiple properties for which they are responsible.
Corporate Revenue Managers. Corporate managers are able to see data at a national level for multiple properties.
Process of Setting Up Product and Property Pricing
The following list shows the procedures that administrators typically perform to set up pricing for products and properties using Siebel Hospitality. Your company might follow a different process according to its business requirements.
To set up product and property pricing, perform the following tasks:
Setting Up Price Lists
An administrator can create price lists to set prices for event order line items. Each price list can specify more than one kind of pricing, for example, list price, promotional price, and so on.
Using Siebel Hospitality, price lists can be set up for use by properties. When you create a price list, it can be associated with a property and can be used to price products associated with that property. Orders are typically associated with the default price list of the property.
This task is a step in Process of Setting Up Product and Property Pricing.
To set up a price list
Navigate to the Administration - Pricing screen, then the Price Lists view.
In the Price Lists list, create a new record and enter a value in the Name field.
In the new record form, click the Show More button, complete the fields and save the record.
The following table describes some of the fields.
Field Comments Aggregate Discount Sequence
Specify the Aggregate Discount Sequence for all the line items associated with the price list. For more information about setting up aggregate discounts, see Siebel Pricing Administration Guide.
Cost List
Select the cost list to associate with this price list. For more information about cost lists, see Siebel Pricing Administration Guide.
Currency
The currency of the price list. The field is automatically populated and Default value is the currency of the application when a new price list is created.
Description
Description of the price list.
Effective From
The beginning date the price list is in effect. The current date and time is automatically populated by default when a new price list is created.
Effective To
The last date the price list is in effect. After this time, orders, line items, and so on relying on this price list cannot access data in this price list.
Name
The name of the price list.
Organization
Set this field to the property associated with the price list.
Note: If you do not select a property in this field, the price list will not be associated with any property.Payment Terms
Select one default set of payment terms to be associated with this price list. This selection appears as the default data for Payment Terms when a user creates a Quote or Order using this price list. For more information about payment terms, see Siebel Pricing Administration Guide.
Pricing Procedure
Select a custom pricing procedure. The pricing logic in this procedure will be applied to all the line items in the price list. For more information about pricing procedures, see Siebel Pricing Administration Guide.
Select the new price list record and click the link in the Name field.
In the Price List Line Items list, click New and add a product to the price list.
Note: The following steps assume the products are already defined. If not, see Process of Setting Up Hospitality Products.Add a minimum and maximum price for the price list line item in the Minimum Price and Maximum price fields.
Provide information in the remaining fields of the Price List Line Items list.
For descriptions of these fields, see Siebel Pricing Administration Guide.
Repeat Step 5 through Step 7 for each product you add.
For general information about price lists, see Siebel Pricing Administration Guide.
Administering Property Pricing
The property pricing administration business process includes all the tasks that the property revenue managers must complete to set up all the prices for their property.
The tasks necessary for property pricing administration are:
About the Property Pricing Profile
The revenue manager sets up the property pricing profile. The profile defines the pricing parameters for each property record. These parameters include:
Nonparticipating Properties
Weekend/Weekday
Price Lists
Nonparticipating Properties Pricing
Nonparticipating properties are properties that do not use the Hospitality Event Sales Execution or Function Space Inventory processes. However, events for these properties might be sold by a member of the property brand and the National Sales Organization (NSO). Event Booking Centers sell space from and pass event opportunities to nonparticipating properties.
For a nonparticipating property, availability and pricing checks are bypassed during the generate quote process. This means that it is not necessary to perform pricing for nonparticipating properties. For more information about nonparticipating properties, see Managing Nonparticipating Properties.
Weekend and Weekday Properties Pricing
Some properties quote different rates for weekends as compared to weekdays and as a result, two different weighted average rates can be quoted to the customer. The administrator can define these properties by checking the Weekend/Weekday flag.
These properties implement business rules that price room rates for weekdays differently than room rates on the weekends because the guest profile on weekdays (typically business travelers) is different from the guest profile on the weekends (typically leisure travelers). Weekday and weekend pricing administration involves identifying the days that are priced using weekday rates, and days that are priced using weekend rates. Days defined as weekend days do not have to be consecutive, and the weekend day might include additional price adjustments on the room rate.
The location of the property is also a key factor in pricing room rates for weekends and weekdays. For example, a property located near a theme park such as Disney World might have different room rates for weekends and weekdays than another property in the same metropolitan area, but located near a financial district.
Creating a Property Pricing Profile
Existing price lists must be associated with the properties using the Property Pricing screen. The revenue manager typically sets up the property pricing profile, which establishes the pricing parameters for each property record. The following procedure details how to create a property pricing profile.
This task is a step in Process of Setting Up Product and Property Pricing.
To create a property pricing profile
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, query for the required property record.
In the property record, set the values for the pricing parameters:
Non Participating
Weekend/Weekday
Currency
Price List
Defining Weekday and Weekend Days
The property administrator can specify which days are considered to be weekdays and which are weekends for each day of the week. For example, the administrator can define Friday as a weekend day, define Saturday as a weekday, and then set Sunday as a weekend day. To define weekends and weekdays, you must select the Weekend/Weekday check box flag in the Property record.
This task is a step in Process of Setting Up Product and Property Pricing.
To define weekday and weekend days
Navigate to the Property Pricing Admin, then the Properties view.
In the Properties list, select the property and then click the link in the Property Name field.
Click the Weekend Admin view tab.
In the Weekend Admin list, select a weekday, and select the check box if the day is considered to be a weekend.
If the day is not flagged as a weekend day, it is designated as a weekday.
Defining a Profit Series and Percentages
The administrator or revenue manager can define a Profit Series that manages different profit percentages for different periods for each property. The Profit Percentage that is applied to an opportunity depends on the arrival day specified in the opportunity. The profit series is applied to any opportunity that falls within the start and end date of the profit series. In cases where the profit series has overlapping dates, the last date entered takes precedence.
This task is a step in Process of Setting Up Product and Property Pricing.
To define a profit series and percentages
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the property and click the link in the Property Name field.
Click the Profit Series view tab.
In the Profit Series list, create a new record.
In the new record enter a name, the start and end dates of the Profit Series, and a description.
With the Profit Series record selected, scroll down to the Profit Percentage list.
To populate the Profit Series list with all parent revenue categories, click Parent Revenue Category. Otherwise, click New to add individual categories.
Set the percentage profit to be made from each parent revenue category at the property.
Defining Future Date Adjustments for Revenue Categories
Property administrators can define future date adjustments on the pricing of revenue categories. This means at a certain date in the future, the prices of all products in a certain category will increase by the defined percentage. This markup is rolled up into each individual quote when the quote price is calculated.
This task is a step in Process of Setting Up Product and Property Pricing.
To define a future date adjustment for a revenue category
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the property and click the link in the Property Name field.
Click the Future Date Adjustment view tab.
In the Future Date Adjustments list, create a new record.
In the new record, complete the fields and save the record.
The following table describes some of the fields.
Field Comments Name
The name of the adjustment to be applied.
Revenue Category
The category to which the adjustment is to be applied.
Note: You must select a category in this field or the adjustment will not be applied.Revenue Parent Category
This field is automatically populated when the Revenue Category field is completed.
Start Date
The date from which the future date adjustment is to be applied.
Start Day
This field is automatically populated when the Start Date field is completed.
End Date
The date on which the future date adjustment is no longer valid.
End Day
This field is automatically populated when the End Date field is completed.
% Markup
The percentage increase on all products in the category.
Setting Up Special Dates
Siebel Hospitality provides you with the ability to flag special dates that must be acknowledged by an administrator when setting up pricing. Individual days or date ranges can be flagged as special dates. These dates can be occasions where extra function space or sleeping rooms are required for an event; they can be holidays or special events; or they can be dates flagged with sell notes or part of a particular sales strategy.
Special dates are typically set up by revenue managers. Flagging certain days as special dates for a property alerts sales representatives that the revenue manager wants to generate extra revenue on the days in question. More than one special date for each day can be set up at the property.
Special date can be viewed in the Function Space Calendar and Sleeping Room Calendar. For more information, see Accessing the Function Space Calendar and Accessing the Sleeping Room Calendar.
This task is a step in Process of Setting Up Product and Property Pricing.
To set up a special date
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, query for the required property record.
Drill down on the Property Name hyperlink.
From the Property form, click the Sell Notes view tab.
In the Sell Notes list, create a new record, and complete the fields.
Some of the fields are described in the following table.
Field Comments Start Date
Start date of the special dates period.
You can drill down on the link in the Start Date field to navigate to the Special Dates Calendar. For more information about the Special Dates Calendar, see Viewing the Property Calendar.
End Date
End date of the special dates period.
Type
Select the type of special date. You can select one of the following: Need Function Space, Need Sleeping Rooms, Sell Notes, Holiday, Sales Strategy, and Special Events.
Description
Description of the special dates period.
Created By
The User Id of the user who created this special date record.
Created Date
The date on which this special date record was created.
Last updated By
The User Id of the user who last updated this special date record.
Last Updated Date
The last date on which this special date record was updated.
Administering Function Space Pricing
An administrator or a property revenue manager can define benchmark rental fees for function space room types, and specify pricing exceptions for these functions. The administrator or manager must set up the defaults for daily rentals and then define any day part exceptions.
The user can define function space type prices at the category level, and the prices will be applied to all specific spaces associated with the category. Prices for specific space can be modified later if necessary. If categories are not defined, the administrator defines prices for specific space.
The property revenue managers must complete some setup tasks for the function space pricing of the property. These tasks include the following:
These tasks are steps in Administering Function Space Pricing.
Setting Up Pricing Day Parts
Day parts are used for rental and threshold calculations for function spaces. Either the administrator or the property revenue manager must segment the operational day into periods of time for threshold and rental calculations to work. To set up day parts for the property, see Defining Property Day Parts.
This task is a step in Administering Function Space Pricing.
Defining Function Space Pricing Rules
Function space pricing rules must be defined for each function space for quote prices to be generated. The pricing rules provide both the benchmark and threshold pricing for each day part and each day of the week. The benchmark rental price for a function space is the normal price at which the function space is rented out to a customer.
Some hospitality companies only accept function space business when an event on their properties meets a required amount of profit. This profit threshold is used to qualify an event opportunity according to the profit potential of the event. Thresholds indicate how much profit must be made to complete the booking. The aggregate function profit of the quote must be compared with the threshold defined for the function space for the indicated time period. If the quote falls short of the minimum threshold, the sales representative cannot change the quote status to anything higher than prospect. Any inventory being held is released after a predefined time interval if the function status is still at Prospect.
When setting up prices for function spaces, the administrator first sets up the default rates and then creates exception pricing.
This task is a step in Administering Function Space Pricing.
Creating Default Function Space Pricing Rules
The following procedure details how to create the default function space pricing rules.
To create default function space pricing rules
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the required property and click the link in the Property Name field.
Click the Function Space view tab.
In the Function Space list create a new record, complete the fields, and save the record.
The following table describes some of the fields.
Field Comments Function Space
Select a function space to which this rule will apply.
Start Date
The date from which this rule will apply.
Start Day
This field is automatically populated when the Start Date field is completed.
End Date
The date on which this rule will no longer apply. There is some validation on the Start and End Dates as follows:
End Date >= Start Date + 365
This means that a function space pricing rule can only run for one year at the most.
End Day
This field is automatically populated when the End Date field is completed.
Day Part
The day part for which this rule is applicable. You must create an individual rule for each day part.
Type
The type of pricing rule, that is, whether the rule is a benchmark rental rule or is a threshold rule. You must create a set of Rental rules (that is, a rental rule for each day part) and a set of Threshold rules.
Cascade
Select to apply this rule to all components (or specific spaces) of category or suite functions spaces. Selecting this check box means that you do not have to create a separate rules list for each specific space associated with the category or suite.
This check box is enabled only for Categories and Suites. This check box is read-only for specific spaces.
Monday - Sunday
These fields represent:
The benchmark rental price of the function space for each day of the week or
The profit threshold for each day of the week
If the pricing rule runs for less than one week, then it will only be possible to edit the fields for the relevant days.
Comments
Comments on the rule.
After you have created a pricing rule, click Apply. The Function Space Pricing Controls list is populated with the rules that you have created. Multiple rules can be applied at once by multi-selecting them and clicking Apply.
You can make direct changes to the prices in the Pricing Controls list. These prices take precedence over the originally created rules.
Creating Exceptions to the Default Function Space Pricing Rules
Administrators sometimes define exceptions to the pricing of a function space. For example, during certain busy periods, the administrator might increase the price of the function space, but allow the price to revert to the benchmark rental rate after the busy period is over. An administrator can define an exception by creating a rule that has effective start and end dates. This new rule takes precedence over the existing rule when the quote price is calculated.
To create exceptions to the default function space pricing rules
In the Function Space list, create a new record with similar values to the rule for which to create an exception.
Set the Start Date and End Date fields, and the rental price from Monday to Sunday as appropriate.
Click apply. The new rule appears in the Function Space Pricing Controls list.
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
Navigate to the Property Pricing Admin screen, then the Properties view.
In the properties list, select the required property record, and click the link in the Property Name field.
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.
Scroll down to the Type - Applicability Time list and create a new record.
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.Scroll down to the Average Values list.
To populate the Average Values list with all revenue categories, click Revenue Category. Otherwise, click New to add individual categories.
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.
Accessing the Function Space Calendar
The function space calendar can be accessed from the Property Pricing Admin screen when you drill down on a property. This calendar allows an administrator to view special dates and sell notes, function space rental by day parts, function space thresholds by day parts, and function space authorization for a particular function space at a property. This view helps the user to see all these related pieces of information for a particular function space. The administrator might find this useful when defining pricing rules. It is possible to drill down to a number of different views when using this calendar as follows:
By drilling down on the Authorization link, the user is brought to the Inventory Control view tab for the property.
By drilling down on the Threshold or Rental link, the user is brought to the Function Space view tab, with the particular pricing rule that affects the link in the calendar selected.
By drilling down on Sell Notes or Special dates, the user is brought to the Sell Notes view tab with the relevant sell note or special date selected.
To access the Function Space Calendar
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, query for and select the required property.
Click the link in the Property Name field, and then click the Function Space Calendar view tab. The function space calendar is displayed.
Select either the weekly or monthly view.
In the date field, select the week or month for which to view details.
In the Function Space field, select the function space for which to view details.
Administering Sleeping Room Pricing
Administrators control sleeping room pricing administration by setting up a series of pricing rules for each room. These pricing rules can be used to define benchmark rates for each of the different room types, a negotiation floor for sales representatives, minimum and maximum prices for each room type, and also costing rules for each room type. Exceptions to the established rates are typically used to adjust arrival day pricing and pricing exceptions on certain days of the week.
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 sleeping room item, 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. For information on setting up matrix-based pricing, see Setting Up a Matrix Series.
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:
These tasks are steps in Process of Setting Up Product and Property Pricing.
Setting Up Rates for Sleeping Rooms
When setting up rates for sleeping rooms, the administrator first sets up the default rates and then creates exception pricing.
This task is a step in Administering Sleeping Room Pricing.
Creating Default Sleeping Room Pricing Rules
The administrator defines the default sleeping room pricing types and then sets the rate for each type. The defined rates apply to the sleeping room types when the active flag is set.
To create default sleeping room pricing rules
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the required property and click the link in the Property Name field.
Click the Sleeping Room view tab.
In the Sleeping Room list create a new record, complete the fields, and save the record.
The following table describes some of the fields.
Field Comments Sleeping Room
Select the sleeping room for which a rule is to be defined.
Start Date
The date from which this rule will apply.
Start Day
This field is automatically populated when the Start Date field is completed.
End Date
The date on which this rule will no longer apply. There is some validation on the Start and End Dates as follows:
End Date >= Start Date + 365
This means that a function space pricing rule can only run for one year at the most.
End Day
This field is automatically populated when the End Date field is completed.
Rule Type
Select the appropriate rule type. There are six types as follows:
Benchmark. The price at which the room is generally rented.
Floor (Negotiation Floor). The variance from the benchmark room price below which a sales representative cannot negotiate prices for the room. For example, if the benchmark room price is 90 dollars, and the Floor is 20 dollars, then the sales representative cannot negotiate a price less than 70 dollars for the room.
Floor %. Indicates the percentage variance from the benchmark room price below which a sales representative cannot negotiate prices for a room. Define either a Floor rule or a Floor % rule for each sleeping room type.
Minimum. The minimum price at which a room can be rented.
Maximum. The maximum price at which a room can be rented.
Cost. Revenue Managers can define the costs associated with each sleeping room type at the property. The values entered are used to calculate the sleeping room profit. The calculation is based on the arrival date of the event. If the cost is defined for a date range, it is used to calculate the profit for all event opportunities scheduled to arrive within the date range.
Generally, a set of rules is created for each sleeping room type.
Monday - Sunday
These fields represent the value for each day of the week for the specified rule type. If the pricing rule runs for less than one week, then it will only be possible to edit the fields for the relevant days.
Comments
Comments on the rule.
When you have created all the necessary pricing rules, click Apply. The Sleeping Rooms Pricing Controls list is populated with all the rules that you have created.
You can make direct changes to the prices in the Pricing Controls list. These edited prices will take precedence over the originally created rules.
Creating Exceptions to the Default Sleeping Room Pricing Rules
The administrator can define exception rates for each rule type after the rule has been created. An administrator can define an exception by creating a new rule that has effective start and end dates. The newly created rule will take precedence over the existing rule when the quote price is calculated.
To create exceptions to the default sleeping room pricing rules
In the Sleeping Rooms list, create a new record with similar values to the rule for which to create an exception.
Set the Start Date and End Date fields, and the sleeping room price from Monday to Sunday as appropriate.
Click Apply. The new rule appears in the Sleeping Room Pricing Controls list.
Defining Government Sleeping Room Pricing Rules
The administrator can set up sleeping room pricing types and rates that meet government room rate requirements for the government market segment. These mandated rates requirements are regularly published by the U.S. government for each room type.
The prices are date range-specific and are routinely added to Siebel Hospitality for any given property. Government pricing can be turned on and off depending on the government rate availability. While the government rate exists in Siebel Hospitality at all times, this rate might or might not be available depending on the occupancy of the hotel. When government pricing is not available, regular pricing is used.
The government rate cannot be offered to a group unless the government rate is open for every day that the group is resident at the property. That is, if the government rate is not available for a single day of the room block, then the whole room block cannot be offered at the government rate.
The property administrator must define the available (open) dates, and on which dates special rates for the government segment must not be applied. Government rates can vary by the arrival day of the event. For example, current government rates can be specified for a particular date range, and rates that are applicable for the next three years can also be defined.
Exceptions to sleeping room rates for the government sector usually involve defining rates for dates in the future. For example, in October, the government might release prices that are applicable beginning in January of the following year.
This task is performed as part of Sleeping Room Administration, and is a step in Administering Sleeping Room Pricing.
Setting Up Default Government Rates
The following procedure details how to set up the default government sleeping room rates.
To set up default government rates
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the required property.
In the property record, click the link in the Property Name field.
Click the Government Pricing view tab.
In the Government Rate list, create records for each sleeping room type, and complete the fields.
For more information about the fields in the Government Rate list, see Creating Default Sleeping Room Pricing Rules.
Save the record, and click Apply.
Scroll down to the Government Open list, and create a new record for each sleeping room type that defines the dates on which the government rates are available.
The following table describes some of the fields.
Field Comments Sleeping Room
Sleeping room for which available dates are to be defined.
Start Date
The date on which the government rates become available. This date must be the same as the date defined for the sleeping room in the Government Rate list.
Start Day
This field is automatically populated when the Start Date field is completed.
End Date
The date on which the government rates are no longer available. This date must be the same as the date defined for the sleeping room in the Government Rate list. There is some validation on the Start and End Dates as follows:
End Date >= Start Date + 365
This means that a function space pricing rule can only run for one year at the most.
End Day
This field is automatically populated when the End Date field is completed.
Monday - Sunday
Click the check box for each day of the week on which the government rates are available. For example, government rates might not be available on Saturday and Sunday nights. If the pricing rule runs for less than one week, then it will only be possible to edit the fields for the relevant days.
Comments
Comments on the rule.
Save the record, and click Apply. The Government Sleeping Room Pricing list displays the government rates and indicates the dates and days on which these rates apply.
Creating Exceptions to the Default Government Rates
The administrator can define exception rates for each rule type after the rule has been created, and also define available dates for this exception. An administrator can define an exception by creating a new rule that has effective start and end dates. The newly created rule will take precedence over the existing rule when the quote price is calculated.
To create exceptions to the default government rates
In the Government Rate list, create a new record with similar values to the rule for which to create an exception.
Set the Start Date and End Date fields, and the rental price from Monday to Sunday as appropriate. Click Apply.
In the Government Open list, create a new record that indicates the dates and days on which this exception is valid. Click Apply.
In the Government Sleeping Room Pricing list, the exception is applied to the specified dates and days.
Accessing the Sleeping Room Calendar
The sleeping room calendar can be accessed from the Property Pricing Admin screen when you drill down on a property. This calendar allows an administrator to view special dates and sell notes, sleeping room costs, negotiation floor, benchmark rates, government rates, sleeping room authorizations and weekday-weekend properties for a particular sleeping room at a property. This view helps the user to see all these related pieces of information for a particular sleeping room. The administrator might find this useful when defining pricing rules. It is possible to drill down to a number of different views when using this calendar as follows:
By drilling down on the Authorization link, the user is brought to the Inventory Control view tab for the property.
By drilling down on the Sleeping Room Cost, Negotiation Floor or Benchmark link, the user is brought to the Sleeping Room view tab, with the particular pricing rule that affects the link in the calendar selected.
By drilling down on the Government link, the user is brought to the Government Pricing view tab, with the particular pricing rule that affects the link in the calendar selected.
By drilling down on Sell Notes or Special dates, the user is brought to the Sell Notes view tab with the relevant sell note or special date selected.
To access the Sleeping Room Calendar
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, query for and select the required property.
Click the link in the Property Name field, and then click the Sleeping Room Calendar view tab. The sleeping room calendar is displayed.
Select either the weekly or monthly view.
In the date field, select the week or month for which to view details.
In the Sleeping Room field, select the sleeping room for which to view details.
Setting Up Controls for Function Spaces, Catering Products, and Sleeping Rooms
When defining pricing for function spaces, catering products, and sleeping rooms, you can set a maximum and minimum price that can be charged for each item. This prevents a sales representative from undercharging or overcharging for a particular item when the quote is generated.
The minimum and maximum pricing controls for function spaces and catering products are defined when you create a price list. For more information about defining minimum and maximum prices for function spaces and catering products, see Setting Up Price Lists.
The minimum and maximum pricing controls for sleeping rooms are defined when you set up pricing for sleeping rooms. For more information about defining minimum and maximum prices for sleeping rooms, see Setting Up Rates for Sleeping Rooms.
Administering Discount Pricing
There are three types of discount pricing in Siebel Hospitality as follows:
Full Day Function Space Discounts. For more information, see Setting Up Full Day Discounts for Function Spaces.
Volume Discounts. For more information, see Setting Up Volume Discounts.
Matrix-based Discounts. For more information, see Setting Up a Matrix Series.
Setting Up Full Day Discounts for Function Spaces
Administrators can define full day discounts for those customers who book functions that touch every day part for the property, or that touch every day part that is included in the full day threshold. Before full day discounts are defined, the day parts for the property must be defined. When defining the day parts, the administrator can choose to include the day part in the full day threshold. If the administrator does this, then the function must touch this day part if it is to qualify for the full day discount. If the administrator does not choose to include the day part in the full day threshold, then the function does not have to touch the day part to qualify for the full day discount.
To set up full day discounts, do the following:
This task is a step in Process of Setting Up Product and Property Pricing.
Setting Up Property Day Parts
When the administrator sets up the property day parts, it is possible to define those day parts that are part of the full day threshold. For information about setting up property day parts, see Defining Property Day Parts.
Defining Full Day Discounts
The following procedure details how to define full day discounts for function spaces after the property day parts have been set up.
To define full day discounts
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the required property and click the link in the Property Name field.
Click the FS Full Day Discount view tab.
In the FS Full Day Discount list, create a new record, complete the fields and save the record.
The following table describes some of the fields.
Field Comments Function Space
The function space to which the full day discount will apply.
Start Date
The date from which the full day discount will become effective.
Start Day
This field is automatically populated after the Start Date field is completed.
End Date
The date after which the full day discount is no longer effective.
End Day
This field is automatically populated after the End Date field is completed.
Rule Type
Select Full Day Discount.
Cascade
Select to apply this discount to all components (or specific spaces) of category or suite functions spaces. Selecting this check box means that you do not have to create a separate discount for each specific space associated with the category or suite.
Monday - Sunday
These fields represent the percentage discount on each day of the week. Enter the appropriate percentage discount for each field.
Comments
Enter relevant comments on the discount.
Example of a Full Day Discount
The day has been broken up into five different day parts as follows, with the day parts for full day threshold flagged:
Morning. 7 A.M. until 12 P.M.
Afternoon. 12 P.M. until 5 P.M. Include in Full Day Threshold flag.
Evening. 5 P.M. until 10 P.M. Include in Full Day Threshold flag.
Midnight. 10 P.M. until 3 A.M. Include in Full Day Threshold flag.
Night. 3 A.M. until 7 A.M.
Case 1. A wedding party decides to hold an event between the hours of 12 P.M. and 12 A.M. In this case, the event touches three day parts: Afternoon, Evening, and Midnight. As the data shows, these three day parts are the only day parts with the Include in Full Day Threshold flag selected. Therefore, the event touches all the day parts required for it to qualify for a full day discount.
Case 2. A company decides to hold a conference between the hours of 9 A.M. until 8 P.M. In this case, the event also touches three day parts: Morning, Afternoon, and Evening. However, as the data shows, the event does not touch the Midnight day part, which has the Include in Full Day Threshold flag selected. Therefore, the event will not qualify for the full day discount as it does not touch all the required day parts.
Setting Up Volume Discounts
Administrators can set up volume discounts for customers who purchase a specified volume of a particular catering product or sleeping room. A volume discount is an adjustment to the price of a product or sleeping room based of the quantity of that product contained within the quote line or order line item, or on the quantity of sleeping rooms booked for a particular night. Volume discounts can be associated with a particular property so that all quotes from that property are subject to the same volume discount.
To set up volume discounts, do the following:
This task is a step in Administering Discount Pricing.
Creating Volume Discounts
Volume discounts are created through the Administration - Pricing screen. For more detailed information about how to create a volume discount, see Siebel Pricing Administration Guide.
This task is a step in Setting Up Volume Discounts.
To create a volume discount
Navigate to the Administration - Pricing screen, then the Volume Discounts view.
In the My Volume Discounts list, create a new record, complete the fields and save the record.
Some of the fields are described in the following table.
Field Comments Name
Enter a name for this volume discount.
Discount Method
Select the discount method from the picklist. The options are Simple and Tiered. For more detailed information about these methods, see Siebel Pricing Administration Guide.
Effective From
The date from which this volume discount will become effective.
Effective To
The date on which this volume discount will become ineffective. If the volume discount will not expire, leave this field blank.
Exchange Date
If you are converting currencies, enter the date for the currency exchange rate. Siebel Hospitality uses the exchange rate on that date to convert currency.
Description
Enter a description of the purpose of the volume discount.
Adding Volume Discount Line Items
Volume discount line items include information about quantity range and price adjustment for each quantity range for a volume discount. You must add a volume discount for each discount rate in the volume discount. For example, to apply a 10 percent discount when the quantity is 5 to 10, and a 20 percent discount when the quantity is 11 or more, then you must add two volume discount line items. For more detailed information, see Siebel Pricing Administration Guide.
This task is a step in Setting Up Volume Discounts.
To add volume discount line items
Navigate to the Administration - Pricing screen, then the Volume Discounts view.
In the My Volume Discounts list, query for and select the required volume discount.
Click the Volume Discounts Line Items view tab.
In the Volume Discounts Line Items view tab, create a new record, complete the fields, and save the record.
Some of the fields are described in the following table.
Field Comments Name
Enter a name for the volume discount line item.
Min Qty
Enter the minimum quantity that must be purchased to take advantage of this rate.
Max Qty
Enter the maximum quantity that gets this rate.
Adjustment Type
Select the type of adjustment that will apply.
Adjustment Amount
Enter the value of the adjustment. How this works will depend on the option chosen in the Adjustment Type field.
Associating Volume Discounts with a Property
The following procedure details how to associate a predefined volume discount with a property.
This task is a step in Setting Up Volume Discounts.
To associate a volume discount with a property
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the required property and click the link in the Property Name field.
Click the Volume Discount Matrix view tab.
In the Volume Discount Matrix list, create a new record, complete the fields, and save the record.
The following table describes some of the fields.
| Field | Comments |
|---|---|
Name |
Enter a name for the discount at this property. |
Description |
Enter a description of the discount. |
Volume Discount |
Select the discount to be associated with this property. |
Start Date |
The date from which the volume discount will become effective. |
Start Day |
This field is automatically populated after the Start Date field is completed. |
End Date |
The date after which the volume discount is no longer effective. |
End Day |
This field is automatically populated after the End Date field is completed. |
Product |
Select a product to which the volume discount applies. |
Product Line |
Select a product line to which the volume discount applies. Select either a product or product line.
Note: You can only specify either Product or Product Line for any Volume Discount.
|
Created By |
The User Id of the user who created the Volume discount. |
Created Date |
The date on which the volume discount was created. |
Creating Aggregate Volume Discounts for Sleeping Rooms and Suites
A sleeping room aggregate volume discount is a volume discount that applies to all types of sleeping rooms at a specific property. Siebel Hospitality allows you to create aggregate volume discounts for sleeping rooms.
For example, a property has three different types of sleeping rooms (single room, double room, and penthouse suite). A customer books 10 rooms of each type, which means the customer books a total of 30 rooms. Instead of giving a separate discount for each room type, you can give the customer one aggregate discount for all 30 rooms.
Before you perform this procedure, you must create a volume discount, as described in Creating Volume Discounts. Additionally, you must add line items to the volume discount, as described in Adding Volume Discount Line Items.
To create an aggregate volume discount for sleeping rooms and suites
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the required property and click the link in the Property Name field.
Click the Volume Discount Matrix view tab.
In the Volume Discount Matrix list, create a new record.
In the Product Line field, click the single select button, and in the Pick Product Line selection dialog box, select the Sleeping Room product line.
Complete the remaining fields, while making sure that you leave the Product field blank, and save the record.
For more information on these fields, see Associating Volume Discounts with a Property.
Setting Up a Matrix Series
Using a matrix series, administrators can tailor processes and discounts to specific customer and market segments. They allow for the creation and management of prices and discounts for products in conjunction with customer and market factors.
It is recommended that you use discount matrices for discounts where there are high volumes of prices and adjustments, the discount criteria used for the adjustment are known well ahead of time, and the discount criteria used for the adjustment do not change frequently.
In Siebel Hospitality, discount matrices can be associated with accounts and market segments. For more information about discount matrices, see Siebel Pricing Administration Guide.
This task is a step in Process of Setting Up Product and Property Pricing.
To set up a matrix series, you must do the following:
Do one of the following as required:
Creating a Matrix Series for a Property
The following procedure details how to create a matrix series record for which an account or segment matrix discount can be defined.
This task is a step in Setting Up a Matrix Series.
To create a matrix series for a property
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the required property and click the link in the Property Name field.
Click the Matrix Series view tab.
In the Matrix Series list, create a new record, complete the fields, and save the record.
The following table describes some of the fields.
Field Comments Series Name
Enter a name for the series.
Start Date
The date from which the series will become effective.
Start Day
This field is automatically populated after the Start Date field is completed.
End Date
The date after which the series is no longer effective.
End Day
This field is automatically populated after the End Date field is completed.
Product Line
Select the product line to which this matrix series applies.
Description
Enter a description of the series.
You must now create either an account or statement discount for the series.
For more information, see Defining an Account Matrix Discount or Defining a Segment Matrix Discount as appropriate.
Defining an Account Matrix Discount
Your company can award discounts to valued accounts that bring a large amount of business to the company. This might act as an incentive for the account to continue using your company for hospitality events.
This task is a step in Setting Up a Matrix Series.
To define an account matrix discount
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the required property and click the link in the Property Name field.
Click the Matrix Series view tab.
In the Matrix Series list, create a new record, as described in Creating a Matrix Series for a Property.
Scroll down and click the Account Matrix view tab.
Create a number of new records as required, complete the fields, and save each record.
The following table describes some of the fields.
Field Comments Name
Enter a name for the account matrix.
Account Name
Select the account to which this matrix will apply.
Parent Account
Select the parent account of the Account to which this discount will apply.
Product
Select the product to which this matrix will apply. Only products that are contained in the Product Line for the Matrix Series will be available for selection here if a Product Line is used for the series.
Frequency
Select the day of the week on which this matrix will apply.
Adjustment Type
Enter the type of adjustment. For information about the selection options, see About Matrix Discount Adjustment Types.
Adjustment Amount
The amount of the adjustment that is specified by type.
Defining a Segment Matrix Discount
This task is a step in Setting Up a Matrix Series.
To define a segment matrix discount
Navigate to the Property Pricing Admin screen, then the Properties view.
In the Properties list, select the required property and click the link in the Property Name field.
Click the Matrix Series view tab.
In the Matrix Series list, create a new record.
For more information about creating a matrix series record, see Creating a Matrix Series for a Property.
Click the Segment Matrix view tab.
Create a number of new records as required, complete the fields, and save the records.
The following table describes some of the fields.
Field Comments Name
The name of the account matrix. This field is automatically populated.
Opportunity Segment
Select the segment to which this matrix will apply.
Product
Select the product to which this matrix will apply. Only products that are contained in the Product Line for the Matrix Series will be available for selection here if a Product Line is used for the series.
Frequency
Select the day of the week on which this matrix will apply.
Adjustment Type
Enter the type of adjustment. For information about the selection options, see About Matrix Discount Adjustment Types.
Adjustment Amount
The amount of the adjustment that is specified by type.
Modifying Adjustment Amounts for a Matrix Series
On occasion, an administrator might want to increase or decrease all the adjustment amounts associated with a matrix series. The administrator can do this using the Transform button.
To modify adjustment amounts for a matrix series
Navigate to the Property Pricing Admin screen, Properties, and then the Matrix Series view for the required property record.
Select the required series record, and click Transform. The Matrix Transform dialog box is displayed.
In the Transform field, enter the amount by which the adjustment amounts must be transformed. For example, to increase adjustment amounts by ten percent, enter 110%, or to decrease adjustment amounts by ten percent, enter 90%.
Do one of the following:
To apply the adjustment to Price Overrides only, make sure that the Price Override Only check box is selected.
To apply the adjustment to all adjustment amounts, make sure that the Price Override Only check box is deselected.
Click Transform. The transformation is applied to the adjustment amount fields for Account and Segment matrices.
Select the matrix series and scroll down to the Price Details list.
In the Price details list, add a record.
Complete the fields and save the record.
Repeat Step 7 through Step 8 to create additional Price Details records.
About Matrix Discount Adjustment Types
The Adjustment Type field allows you to specify the type of adjustment to apply to matrix discounts. Selection options are as follows:
Discount Amount. Indicates that a set amount is to be discounted from the product price.
% Discount. Indicates that a set percentage is to be discounted from the product price.
Markup Amount. Indicates that the product price is to be increased by a set amount.
% Markup. Indicates that the product price is to be increased by a set percentage.
Price Override. Indicates that the price of the product is to be overridden to the amount specified in the Adjustment Amount field.
Tier Based. Applies the discount percentage defined by each Volume Discount Line Item record to the quantity of items defined in that Volume Discount Line Item record.
Multiplicative Amount. Multiplies the target price by the specified adjustment value.
Power (Target Price, Power). Raises the target price to the specified exponential value. For example, if the target price is 4, and the adjustment value is 2, the new price will be 4 to the 2nd power (4 * 4) = 16.
Round (Current, Decimal Places). Sets the number of decimal places to which the price will be rounded.
Setting Up Suite Pricing for Multipurpose Spaces
Property revenue managers must set up suite pricing for suites that can act either as a sleeping room or a function space. The rules that govern this are as follows:
If the suite is reserved as a sleeping room, prices are set up by specifying the rate for each day of the week according to the sleeping room pricing type, and the government sleeping room pricing type. For more information about setting sleeping room pricing, see Administering Sleeping Room Pricing.
If the suite is reserved as a function space, then the pricing is set up by day and day parts with the threshold and rental fee factored in. The property revenue manager creates the function space rental fee records, which are sets of rental value by day and day part. In addition, the property revenue manager sets up the thresholds by day and day part. For more information about setting function space pricing, see Administering Function Space Pricing.
Optionally, you can include all suites that are used as function spaces as part of the sleeping room revenue.
This task is a step in Process of Setting Up Product and Property Pricing.
To set up suite pricing for multipurpose spaces
Navigate to the Property Administration screen, then the Properties view.
In the Properties list, query for and select the required property.
Click the link in the Property Name field, and then click the Suite Administration tab.
Select the Suite Room Rental check box.
All suites at the property that are used as function spaces are included as part of the sleeping room revenue.