Configuring Rate Strategies
Rate strategies enables you to configure rules that automatically set rate restrictions according to occupancy levels or the number of times a specific rate category or rate code is sold.
Typically when configuring a rate strategy rule to close or set Length of Stay Restrictions on a rate when X% occupancy is reached , you would also configure a corresponding rate strategy rule to open or remove the LOS restriction on the rate when Y% (lower) occupancy is reached.
The restriction types available are determined by the Restriction Types OPERA Control.
Rate strategies run continually as a background process and overrides any manually set rate restrictions for overlapping restriction date periods. For more information on Rate Restrictions, see Restrictions.
Examples:
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Configure a rule so when occupancy reaches 65%, all rate codes in the Discount rate category are closed. You would set When Occupancy Reaches = 65 then Status = Close. Conversely configure a rule with condition When Occupancy = 65 then Status = Open.
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Configure a rule for the sale of the Employee discount rate code "STAFF". You can configure a rate strategy rule to ensure that only 3 reservations (rooms) are sold per day for the STAFF rate code. You would set When Times Sold Reaches = 3 and Status = Close. Conversely configure a rule with condition When Times Sold is Less than 3 then Status =Open.
Adding Rate Strategy Rules
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From the OPERA Cloud Administration menu, select Financial, select Rate Management, and then select Rate Strategies.
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Click New and enter the following details:
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Property: Enter or select the property.
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Sequence: Use the sequence number to control the order in which strategies will be executed by OPERA Cloud. When multiple strategies apply in a given scenario (e.g., for a specific rate category, rate code and date combination) the strategy with the highest sequence number will be executed first.
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Condition
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Condition: Select a condition from the list.
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If Occupancy Reaches/If Occupancy Is Less: These two conditions use the % occupancy level of the property to execute the rate strategy rule.
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If Times Sold Reaches/If Times Sold Is Less: These two conditions execute a strategy based on an integer for number of times a rate is sold (booked).
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Value: Enter the value for the condition
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Dates to Restrict From: Enter or select the start date to set the restriction.
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Dates to Restrict To: Enter or select the end date to set the restriction.
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Days of Week: Select specific days of the week within the restriction date range.
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Consider Sell Limits: Select to ensure OPERA Cloud will consider the sell limits set to determine occupancy %. (Enabled when the Sell Limits OPERA Control is active).
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Consider Out of Order Rooms: Select to ensure OPERA Cloud will take into consideration the out of order rooms in determining occupancy %.
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Restriction
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Restriction Type: Select the restriction type from list. For more information, see Restrictions.
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Rate Category/Code: Select the rate category or rate code(s) this rule applies to (Rate Code selection is enabled when the Rate Code Restrictions OPERA Control is active; Rate Category selection is enabled when the Rate Category Restrictions OPERA Control is active)
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None: Rule is for all rate code/categories.
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Room Type/Class: Select the room type(s) or room class. This rule applies to Room Class selection is enabled when then Room Class OPERA Control is active.
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None: Rule is for entire property.
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Evaluation Dates (Execution Dates)
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By Date: Enter start and end dates when the rule should execute and evaluate the rule.
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By Advanced Days: Use these fields to define the number of days in advance of the Restriction To/From Dates that OPERA Cloud must start to monitor .
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Click Save.
Editing Rate Strategy Rules
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From the OPERA Cloud Administration menu, select Financial, select Rate Management, and then select Rate Strategies.
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Enter search criteria and click Search.
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From search results, select the rule, click Vertical Ellipsis and click Edit.
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Update the rule.
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Click Save.
Deleting Rate Strategy Rules
Note:
Deleting a rate strategy rule does not "undo" any restrictions already set by the rate strategy processor when the rule was active.-
From the OPERA Cloud Administration menu, select Financial, select Rate Management, and then select Rate Strategies.
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Enter search criteria and click Search.
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From search results, select the rule, click Vertical Ellipsis and click Delete.
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Click Delete to confirm.
Parent topic: Rate Management