1. What are Dynamic Rates?
Rates that can change as per the occupancy of the room/property based on seasons are called Dynamic Rates.
2. What is the significance of Master room?
One room is set as a Master room in Revenue Control. The system then derives the rates of all the other room types from the master room as per the set formula. The master rate is denoted by 'M' in the 'Availability and Rates' section.
3. Can we create seasons?
Yes, Seasons can be created in both the setups - Dynamic Rates and Revenue Control
4. Why am I unable to change the pricing from the Availability & Rates tab?
When Revenue Control is activated where there is a restriction to edit Child Rates, the system does not allow users to change the prices from the Availability & Rates tab for the Child rates. However, the Master Rate can be changed.
5. Which is recommended - Revenue Control or Dynamic Pricing setup?
Both systems have their unique features and property should go with the one that suits their requirements.
Revenue Control is recommended for properties, who wish to set rates based on inventory at property level based on seasons.
Dynamic Pricing is recommended for properties, who wish to set rates based on inventory at room level based on seasons.
6. Is it recommended to change the price of 'Master room'?
We don't recommend changing the price of Master Room because in doing so, it changes the mode to Manual Rates and system will not update the Master rates as per change in the inventory.
7. Is it recommended to change the Master rates and let the system calculate the rates of all other room types based on seasons?
Changing only the Master rates without changing the child rates manually would ensure that the child rates are calculated as per the formula set by the property for all seasons.
8. I have changed the prices from Availability and Rates, how do I undo that?
You can go to Settings -> Rates ->Control Option-> Mode and you will be able to switch back to Dynamic mode.
9. In the revenue control tab, the mode needs to be changed to 'Dynamic'. Once done, will system override all the manual changes done in Availability and Rates section?
Yes, once you switch the mode to Dynamic, system will overwrite the existing rates. However, it will also save the data. So, if you go back to Manual mode, the last update done manually will be available.
10. I have done the setup of RM, but why am I not able to see the rates under Rates tab?
Ensure that you have clicked on Finish and Submit to complete the setup of RM, and have changed the mode to Dynamic from Manual to see the Dynamic Rates reflecting under the Rates tab.
11. Can I set different rates for weekdays and weekends using RM?
Different rates for weekdays and weekends can be set under Revenue Control for the child rates.
12. Can I set different rates for weekdays and weekends for Master Rates under Revenue Control?
Different rates for weekdays and weekends can be set under Revenue Control for the child rates only.
13. Can I manually update the rates for a few dates after Revenue Management is enabled?
Yes, you have the flexibility to switch between manual and dynamic mode at any point of time, after Revenue Management is enabled.
14. Can I change the setup from Revenue Control to Dynamic Rates as and when required?
Yes, you can change the setup from Revenue Control to Dynamic Rates or vice versa as and when required.
15. Does setting up rates from Revenue Management impact the formulas set on the backend under Channel mapping?
Revenue Management only updates the base rates on the Rates Tab. All other calculations happening on the base rates remain unaffected.
16. Can I set multiple differentials between the room types from the Master as per validity?
Only one differential can be set between the room types from the Master which applies to the entire validity, though you do have the option to update the rates manually.
17. Can I set fixed rates for a particular room type under Revenue Control?
You can manually update the rates for a particular room type to set the fixed static rate.
18. Is it possible to set an additional surcharge for a certain date on a certain season?
The additional surcharge can be set only for weekends and not a certain date on a certain season.
19. Is there any place where we can do the Dynamic
Pricing by Percentage wise also?
If property wants to use Dynamic Rate module, which is at Room level, there is no option to set rates percentage wise. Only Flat rates can be set.
If property wants to set rates dynamically via Revenue Management at property level, then it is possible to apply multipliers for child rates.