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.

Note:

Rate Strategy rules with a Evaluation End Date that is at least 60 days before than the current business date are purged.

Examples:

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.
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

From the Administration menu, select Financial, select Rate Management, and then select Rate Strategies.
Click New and enter the following details:
1. Property: Enter or select the property.
2. 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.
3. Condition
  1. Condition: Select a condition from the list.
    1. If Occupancy Reaches/If Occupancy Is Less: These two conditions use the % occupancy level of the property to execute the rate strategy rule.
    2. 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).
  2. Value: Enter the value for the condition
  3. Dates to Restrict From: Enter or select the start date to set the restriction.
  4. Dates to Restrict To: Enter or select the end date to set the restriction.
  5. Days of Week: Select specific days of the week within the restriction date range.
  6. 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).
  7. Consider Out of Order Rooms: Select to ensure OPERA Cloud will take into consideration the out of order rooms in determining occupancy %.
4. Restriction
  1. Restriction Type: Select the restriction type from list. For more information, see Restrictions.
  2. 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)
    1. None: Rule is for all rate code/categories.
  3. 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.
    1. None: Rule is for entire property.
5. Evaluation Dates (Execution Dates)
  1. By Date: Enter start and end dates when the rule should execute and evaluate the rule.
  2. 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 .
Click Save.

Editing Rate Strategy Rules

From the Administration menu, select Financial, select Rate Management, and then select Rate Strategies.
Enter search criteria and click Search.
Select a Rate Strategy Rule in the search result, then click the vertical ellipsis Actions menu and click Edit.
Update the configuration.
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 Administration menu, select Financial, select Rate Management, and then select Rate Strategies.
Enter search criteria and click Search.
Select a Rate Strategy Rule in the search result, then click the vertical ellipsis Actions menu and click Delete.
Click Delete to confirm.