1. User Guide
  2. Administration
  3. Financial Administration
  4. Rate Management
  5. About Rate Codes
  6. Configuring Rate Codes

Configuring Rate Codes

Prior to creating rate codes ensure you have completed the configuration of

For package rate codes ensure you have also completed the configuration of

Various types of rates can be configured

Rate Codes Description

Standard Rate

Enabled the entry of pricing schedules per seasons or date range for each room type.

Daily Rates

Enables entry of price per day for each room type.

A maximum of 20 daily rate  / advanced daily rate codes can be configured per property.

See Configuring Daily Rates

Advanced Daily Base

Advanced Daily Rate behaves like a regular Daily Rate except that the pricing schedule is derived from this Daily Base rate. Reservations made for an Advanced Daily rate have rate amounts that can vary for each night of the stay. Rate amounts are calculated based on the Daily Rate level available for each stay night. A maximum of 20 daily rates / advanced daily rate codes can be configured per property.

See Configuring Advanced Daily Rates

Tiered Rates

Tiered Rates enabled the configuration of pricing schedules per length of stay for each room type.

See Working with Tiered Rates

Base (Derived) Rate

Enables the pricing schedule to be derived from another (base) rate code.  Any changes in the base rate's pricing schedule will automatically affect pricing on all derived rate codes. Up to 75 rate codes can be derived from a base rate code.

See Base Rates

Dynamic Base (Derived) Rate

Dynamic Base Rates calculate and display derived pricing during a rate and availability search. 

Dynamic Base Rates can be used with both standard rate pricing and the calculated dynamic base rate pricing simultaneously. The Compare with Rate Details option can be selected to force OPERA Cloud to compare the static rate code pricing and the dynamically calculated pricing and display the lowest price per day during the availability search in Look to Book.

See Dynamic Base Rates

 

Best Available Rate (BAR)

Allows configuration of rate codes that are selected for Best Available Rate comparison. There are three types of BAR rates that can be set up in OPERA Cloud:

  • Best Available Rates by Day

  • Best Available Rates by LOS - 

  • Best BAR by Day

See Best Available Rates (BAR)

Best Available Rate Based Rate

Allows for configuration of pricing schedules based on the Best Available Rate .

See BAR Based Rates

Advanced Dynamic Base Rate

An Advanced Dynamic Base Rate allows you to create a rate based on another rate (a base rate) or based on both a base rate and a BAR Based rate. This rate structure provides greater flexibility on the rate details level by allowing you to configure the rate as either a flat amount or a percentage. It offers the ability to compare Rate Details with other Base Rate amounts.

See Advanced Dynamic Base Rates

Adding Rate Codes

  1. From the Administration menu, select Financial, select Rate Management, and then select Rate Codes.

  2. Click New and complete the following

    1. Rate Code Definition. See Configuring Rate Code Definition

    2. Financial Details. See Configuring Rate Code Financial Details

    3. Rate Code Type. See Configuring Rate Code Type

    4. Rate Sell Controls and Distribution. See Configuring Rate Sell Controls and Distribution.

    5. Packages

      1. Click New to add package items to include in the rate code.

        1. Select one or more package items or package groups.

      2. Click Attach.

      3. Click vertical ellipsis and select Edit to update a package item.

      4. Click vertical ellipsis and select Delete to delete a package item.

      5. See Configuring Rate Code Package Inclusions

  3. Click Save or Save and Goto Presentation to continue with the rate code configuration and add a pricing schedule.

Editing Rate Codes

  1. From the Administration menu, select Financial, select Rate Management, and then select Rate Codes.

  2. Enter search criteria and click Search.

  3. Select the rate code in the search result, then click vertical ellipsis Actions menu and Edit.

    Note:

    When modifying the pricing schedule or package inclusions for a rate code, existing reservation must be 'refreshed' in order to be updated with the latest pricing and package inclusions. For more information, see Editing a Reservation. All rate code detail links are available to view and update related rate code details. See the Rate Code Detail Links table below.

Table 13-21 Rate Code Detail Links

Rate Code Details Profile Details Billing

Approval Notes

Negotiated Profiles

Financial Details
Channel Distribution    
Pricing Schedule   Restrictions Routing Instructions

Rate Code Definition

   

Rate Code Type

   

Rate Access Exclusion

   

Rate Code Packages

    

Rate Controls & Web Channels  

   

Rate Code Information

    

Copying Rate Codes to Other Properties

When the Multi-Property OPERA Control is active, you can copy rate code configuration to other properties from a hub location.

  1. From the Administration menu, select Financial, select Rate Management, and then select Rate Codes.

  2. Enter search criteria and click Search.

  3. Select the rate code in the search result, then click vertical ellipsis Actions menu and select Copy/Synch.

    1. Select the Copy Codes action.

    2. Source Property: Select the source property from the list.

    3. Select Rate Code(s): Select rate codes from the list.

      1. Negotiated Rates: Select check box to copy negotiated rates.

      2. Packages: Select check box to copy packages.

      3. Pricing Schedules: Select check box to copy pricing schedules.

      4. Rate Floor: Select check box to copy rate floor.

    4. Target Properties: Select one or more properties from the list.

    5. Click Save.

  4. Review, then click Continue.

  5. Review confirmation, click Print to generate a report.

Synchronizing Rate Codes to Other Properties

When the Multi-Property OPERA Control is active, you can synchronize rate code configuration to other properties from a hub location. The following rate code details are synchronized:

  • Rate Code Definition

  • Financial Details

  • Rate Code Packages

  • Rate Controls and Distribution 

 

  1. From the Administration menu, select Financial, select Rate Management, and then select Rate Codes.

  2. Enter search criteria and click Search.

  3. Select the rate code in the search result, then click vertical ellipsis Actions menu and select Copy/Synch.

    1. Select the Sync Codes action.

    2. Source Property: Select the source property from the list.

    3. Select Rate Code(s): Select rate codes from the list.

    4. Target Properties: Select one or more properties from the list.

    5. Click Save.

  4. Review, then click Continue.

  5. Review confirmation, click Print to generate a report.

Deleting Rate Codes

A rate code cannot be deleted if any of the following apply

  • The rate code is a base rate which has at least one derived rate code. Base rates are available when the Base Rates OPERA Control is active. 

  • The rate code is selected in a reservation for a future date, a reservation that is Due In or In House, or a reservation that is checked out on the current business date.

  • The rate code is selected in a block with an end date greater than the current business date.

  1. From the Administration menu, select Financial, select Rate Management, and then select Rate Codes.

  2. Enter search criteria and click Search.

  3. From search results, select the rate code and click vertical ellipsis Actions menu, select Delete.

  4. Click Delete to confirm.

Related Topics

Parent topic: About Rate Codes