About Rate Codes

Rate codes form the core of OPERA Cloud reservation and block modules. Rate codes are used to define the various prices for each room type over a particular date range or rate season.

Rate codes can be configured in multiple currencies when the Ability to Quote Rates in Foreign Currencies OPERA Control is active. For example, for overseas travel agents, with contracts may be negotiated in US dollars, a separate rate code in US currency can be added, that will covert to local currency using a predefined exchange rate. The conversion to local currency can be defined as fixed at check in, fixed at time of reservation, current date, or fixed at block.

Rate codes are also used to support property packages that include food, beverage, leisure or other elements. By associating package elements with a rate code, it is possible to build a package of entitlements for a guest staying on the rate.

When Enforce Same Stay Dates for Sharing Guests OPERA Control active for properties, Rate Posting Interval OPERA Control and Default Rate Code Posting Interval OPERA Control setting are added to the Rate Management group. This enables the ability to set the Default Rate Code Posting Interval setting (Nightly by default) and choose Weekly or Monthly posting for extended-stay reservations or bookings. In New Rate Code, the Rate Posting Interval field is preselected based on the Default Rate Code Posting Interval setting (for example, if the default is Weekly, Weekly is preselected). For more information, see Configuring Rate Code Definition. Weekly/Monthly are available only for Standard rate codes, and any base/child relationship must use the same posting interval.

Note:

Rate codes and related pricing schedules are purged 60 days from their end date.

Parent topic: Rate Management