By John Shortall on March 14, 2014 at 8:30 AM
Why It Is Important:
Quickly Adjust Your Rates
Managing your prices based on demand is a key component to successful revenue management. The Hotel Rate Grid enables your ability to monitor pricing and make quick edits to maximize your nightly revenue: you have instant access and control over your nightly prices on a night by night basis. After your key seasons and compression periods, such as holidays, are set-up for each rate class, you can edit individual nightly prices as situations change.
How It Works:
Hotel Rate Grid
The Hotel Rate Grid adjusts the nightly pricing at your hotel based on adjustments to the pricing set-up in the rate class. You first need to create the rate classes for your various rate plans and then enter the seasonal price changes as well as any changes for weekdays vs. weekend and any other compression periods for your location.
Once those are created and the rate is saved, click on the View link for the rate to see the rate as it is priced for each night. Now you can see and edit the pricing on a per night basis.
To learn more about this feature and read the documentation visit our support center knowledge library after logging into your Frontdesk Anywhere account or call our support line on 415-800-5940 Ext 3