Rate Setup
Rate setup covers rates, rate setup, rate classes, rate categories, markets, sources, packages, currencies, and exchange rates.
Rate Classes
Rate Classes are the broadest grouping of rates (e.g. BAR, Corporate, Package). They sit above Rate Categories in the hierarchy.
Rate Categories
Rate Categories are a finer grouping within a Rate Class (e.g. Weekday, Weekend, Peak Season within the BAR class).
Rates
- Add / edit rates
Markets
Markets identify the market segment a reservation belongs to (e.g. Corporate, Leisure, Government, OTA). Each market can optionally belong to a Market Group for higher-level reporting rollups.
Sources
Sources (also called Source Codes) identify where a reservation came from — the booking channel or origin. Each source belongs to a Source Group.
Packages
Packages define a priced add-on (e.g. Bed & Breakfast, Airport Transfer, Spa Credit) that can be attached to a reservation, either bundled into the room rate or sold as a separate line item. Each package posts to the folio under a single transaction code.
Currencies
Currencies defines the currencies your property accepts for billing and payments.
Exchange Rates (Rate Management)
Exchange Rates define the conversion rate between foreign currencies and your base currency. They are used when guests pay in a foreign currency or when rates are quoted in a non-base currency.
Market Groups
Market Groups are the top-level categories that group individual market codes. For example, a market group "Corporate" might contain market codes like "Corporate Negotiated", "Corporate Rack", and "Corporate Government".
Source Groups
Source Groups are the top-level categories that group individual source codes. For example, a source group "Online" might contain source codes like "Booking.com", "Expedia", and "Hotel Website".