STAAH Max V2 - What is Matrix - Revenue Control? What's new?
Matrix- Revenue Control is an intuitive tool which simplifies revenue stream management, optimized pricing strategies, and boosts overall profitability with ease. To know how to enable and set it up click here
What is new?
Version 2, loaded with advanced features to optimize rate configuration, rate updates and more.
Seasons: Enhanced to offer flexibility in managing seasons, including standard default options, allowing users to customise seasons according to their specific needs.
Master Rates: New formula functions have been introduced to streamline configuration, automating rate calculations for inventory tier blocks and seasons. Additionally, a new ‘Special Tier’ rate type has been added.
Formula: Enhanced to support nested master functionality, allowing the assignment of sub-masters. Additionally, a rate grid added to provide a preview of the configured rates.
Revenue Control Panel: Several new features implemented to enhance user-friendliness, including two new methods for rate management/ update.
Summary: This is a new module introduced to track the history of rate updates.
Current
• One master room based on property inventory
Enhancement
• One master room based on property inventory
• We can now have multiple master rooms based on cluster inventory
Access
Current
• Access only via Availability Calendar.
• Rules > Revenue Control
Enhancement
• Additional access added through the mega menu under ‘Tools’.• Tools > Revenue Management >Matrix -Revenue Control
Seasons – Renamed to ‘Date Ranges’ and enhanced to offer flexibility in managing seasons, including standard default options, allowing users to customise seasons according to their specific needs
Current Functionality:
• There are 6 preset seasons that are not manageable
• Additional seasons created can be managed, edited, and deleted as needed
• The 6 preset seasons are displayed on the Master Rates page, regardless of whether they are in use
Enhancements:
• All preset seasons can be managed except for the ‘Default’ season
• Manageable seasons will have ‘Edit’, ‘Deactivate’ (Hide) and ‘Delete’ function
• Ordering function
Positives:
Users can customize season names to suit their requirements. If they don’t need the preset seasons, they
can hide or delete them, ensuring only the relevant seasons are displayed across all modules.
Manage via ‘Date Ranges’
1. Click on the ‘Action’ menu to view options:
• Edit: Update the season name and colour
• Deactivate: Hide the season, with the option to reactivate it again if required
• Delete: Permanently remove the season
2. Season status:
• A: Active
• D: Deactivated
Master Rates –Identifier for each inventory tier block
• Each inventory tier will have a name, with the default being T1 for the first block. Every new block created will automatically increment the tier name, for example: T1, T2, T3 and so on.
• The tier name can be customized by simply editing the name. If a tier name is customized, the same logic applies when a new tier block is created. The tier name will automatically increment, the user will need to edit the tier name. Example, T1 name is changed to Low, when the new block is created, the tier name generated will be T2.
Feature Overview:
This feature enables users to update rates based on a tier type. Additional details will be provided.
Master Rates – Formula function to calculate default tier pricing
• Click on formula icon to add multiplier
• Rate for all tiers are derived from ‘Default T1’
Master Rates – Formula function to calculate price for each season
• Click on formula feature to add multiplier
• Rate is derived from the default rate of that particular tier
Master Rates – Special Tier
Introducing a new tier type with ‘free allocation’. This means, for this special tier type there is no inventory
threshold. The rate applies regardless of the inventory level.
• Click on ‘Add Special Tier’ > Pop-up box > Enter Tier Name
• Option to set formula from an existing tier, select from dropdown selection
• On saving, it will add ‘Special Tier’ row > Enter rate for each season
• Multiple ‘Special Tier’ is supported
Feature Overview:
To yield rates, the property may need to apply a fixed rate regardless of the occupancy. The ‘Special Tier’ rate can be used to override the applicable tier rates.
Formula - Enhanced to support nested master functionality, allowing the assignment of sub- masters. Additionally, a rate grid added to provide a preview of the configured rates
New logic implemented to support ‘nested master’. In the formula module, you can now manage sub masters. Example
• Superior is the ‘Main’ Master
• Standard Bed & Breakfast have the option to select of the three other rates and set it as its master rate
• If ‘Superior Bed and Breakfast’ is set as the master, the rate for the ‘Standard Bed and Breakfast’ will derive from the Superior BB rate which is calculated from the Superior Rate
A Rate Grid has been added to provide a preview of the configured rates.
Revenue Control Panel – Several new features implemented to enhance user-friendliness, including two new methods for rate management/ update
New Rule:
Tier > Enable rule to view applicable tier for each day
Tier > Enable rule to view applicable tier for each day
Formula Display: Enhanced to include
rate grid displaying rates for all tiers/ seasons
New Rate Management Feature: Overwrite From Rate Grid:
You can update a rate using the configured tier/season rates by simply selecting a rate from the rate grid. This method will change the mode to ‘Manual’ for the applied dates. Reset by changing the mode back to ‘Dynamic’.
New Rate Management Feature: Replace Tier Bands Instead of updating the rate, you can replace it with a ‘Tier’. The rate for the new tier will apply regardless of the configured inventory block for the original tier. You can also use a ‘Special Tier’.
New Rate Management Feature: Replace Tier Bands Instead of updating the rate, you can replace it with a ‘Tier’. The rate for the new tier will apply regardless of the configured inventory block for the original tier. You can also use a ‘Special Tier’.
New Rate Management Feature: Replace Tier Bands
• The mode remains dynamic, but to indicate a ‘Replaced Tier Band’, it is indicated with an ‘R’
• The tier cell is highlighted in pink
• There are two options to reset it to the original tier rate: Changing the mode or there is a reset button in the bulk update
Availability and Rate Report
• Function added to export report
Summary – This is a new module introduced to track the history of rate updates.
Example:
Logs:
Set Up module: Activity logs available in the back-end. Can be retrieved by the technical team
Date Ranges Module: Activity logs available in the back-end. Can be retrieved by the technical team
Master Rates Module: Activity logs available in the back-end. Can be retrieved by the technical team Formula Module: Activity logs available in the back-end. Can be retrieved by the technical team Mode: Logs via Rules
Rate changes:
Logs via Rules and Summary
Logs via Rules and Summary