A Rate Set is a user defined set of rates that can be assigned to one or more properties.
One rate set could be defined for all three-bedroom standard properties. These properties would share the same date bands and rates. Or an individual rate set could be created for each property, so each property could have its own date bands and rates. The rate set contains the various seasons and pricing.
Each Rate Set, contains Date Bands. A Date Band is a period of time for which a property rental rate is valid. For example, from 11/11/2020 to 12/31/2020 the rate is $150/night for High Season. Then another date band could be added from 1/1/2021 to 2/30/2021 for low season, and so on.
Rates can be added within the Property Assistant for the selected property, or from the Rate Sets screen under Reservations & Quoting > Rate Sets. No matter which screen the rates are configured on, the changes will reflect in either place.
To access the Rate Sets page, go to:
- Pricing & Fees
- Edit Rates
General Rate Settings
Before adding or creating a new rate set, the general rate settings must be configured. Click on the "General Rate Settings" tab:
Rate Set Defaults
First, specify when creating a new rate set to default to either, "Daily," "Weekly," or "Monthly." Keep in mind, the channels ONLY support daily rates.
If a monthly rate set, specify how many days are in the month - typically, the Property Manager enters the averages days in a month in this field.
If a monthly rate set is selected, choose to use combined rates, so the system will combine the daily, weekly and the monthly rate.
Lastly, if "Quote rates based on arrival date band only" is enabled, the system will apply the high season rates to their entire booking. If disabled, the system will pro-rate the seasons based on the split of the date bands
Date Band Defaults
- When adding a new date band > Allow guests to arrive and depart on any day? If not, use the dropdown to select which days of the week the guest is allowed to arrive or depart on.
- Default minimum night stays to > Enter the default minimum night requirement. This can be overridden on a per season basis.
- Save > Be sure to click "Save" when complete
To create a new rate set, click the drop-down under the "Actions" button and select "New."
From the window,
- Enter a name for the new set (usually the name of the property, or if shared something like '3 Bedroom standard rates')
- The rate set must be defined as either Daily, Weekly or Monthly. (Please note, the channels will only support daily rates).
- Choose the Currency from the drop-down menu
- Press "Add"
Adding a Date Band
After creating the new rate set, the first step is to add a dateband which represents the season. Within the season, the pricing and booking restrictions can be set.
To add a new dateband,
- Make sure the correct rate set is selected from the drop-down menu
- Click the "Add Date Band" button
Add Rate Band Screen
When the window appears:
- Enter the 'From Date' by selecting from the calendar datepicker
- Enter the 'To Date' by selecting from the calendar datepicker
- Enter the daily/weekly/monthly rate for the selected dates
- Enter the the Nightly Floor Rate ** (this rate must always be set as nightly even if the default rate set is set to weekly or monthly)
- Enter the Season Name. For example, High, Mid, Low, Spring, Summer, Fall, etc.
- Enter the Minimum Night stay
- Press "Add"
Repeat steps 1-7 until at least three years of rates have been configured. The system cannot quote for a future date if no rates have been configured.
The minimum nights will auto-populate with the default that has been configured. This can be overridden per rate band in case the minimum night changes per season.
Nightly Floor Rate
The Floor Rate is the default discounted rate available to travel agents for the selected date range. When set to zero, the date rage will show as unavailable. The net rate is not visible or available from the retail website. This rate can only be used when specifically set in the SuperSites screen. The rate can also be made available via the XML feeds.
Overlapping a Season or Weekend
After creating the season, an overlapping rate set could be configured to save time. For example, if Thanksgiving falls within a season where the rates increase, these days can be overlapped over the previously created rate set. To do so, follow the steps above to add a new date band and then,
- Using Thanksgiving as an example, specify the dates for this season where the pricing increases
- Enter the rate, season name and the minimum night stay
- Click the checkbox "Allow Insert/Overlap"
- To repeat this overlap (weekend rates, for example), enter how many days to repeat
- Click "Add"
To overlap all weekends with higher rates, follow the steps above, but enter the weekend dates for the first weekend within the season - the first Friday and Saturday night for example.
Since the weekend happens every 7 days, enter "7" in the "Repeat every" field. This will overlap the weekend pricing every Friday and Saturday night within the season.
It's important to go back to when the first season started when entering the dates. For example, if the seasons starts on October 1st through to November 1st, specify the first Friday and Saturday night in October. Then, the overlap will occur every weekend from October 1st to November 1st.
Delete a Rate Set
Under the Rate Sets Tab,
- Select a Rate Set from the dropdown menu
- Click on the "Actions" dropdown and select "Delete"
- When the Delete Rate Set Window appears, click "Yes" to delete
Copy a Rate Set to Another Property
To save time, after creating one rate set, it can be copied to another rate set. This is great if another rate set has the same season structure. Both seasons and the pricing can be copied, or just the seasons.
First, create a new rate set by following the steps above.
Then to copy the rates and date bands from another rate set, under the Rate Sets Tab,
- Select the new rate set from the dropdown menu. (This Rate Set should display with No Data)
- Click on the "Actions" dropdown and select "Copy Rates"
- When the Copy Rate Set Window appears, select the previously created rate set to copy the rates FROM.
- Using the radio buttons, select to copy the "Date Ranges and Rates," or "Date Ranges" only
- Click the "Copy" button
If the 'date range only' option was selected, this will just copy the date bands with no rates. These can be entered manually in the new rate.
After creating a rate set and adding the date bands, additional booking settings can be configured such as the minimum and maximum nights per season, and arrival and departure days restrictions.
If the guest is only allowed to arrive at the property on Friday, Saturday or Sunday in high-season, select the applicable days of the week that they are allowed to arrive.
To add or edit this information, simply click within the field.
Assign a Rate Set to a Property
To assign a set of rates to a property:
- Click on the 'Assign Rates to Properties' (tab). The properties will be listed in the left column.
- Click on the right column to select the Rate Set that should be assigned to the property
- Press "Save"
Rates MUST be assigned to a property in order to generate a quote in the system, website and on the channels. This step can also be done within the Property Assistant.
Combined Rates View
Combined rates allows the Property Manager to display daily, weekly, and monthly pricing on their website.
When this feature is enabled, all rate columns can be set.
Please note, combined rates will only be supported on the CiiRUS website. Channels such as Vrbo and Airbnb ONLY support daily rates.
To enable combined rates for a rate set, select the applicable rate set and then click on "Actions" and then select "Edit."
From the edit window, select the checkbox next to "Use Monthly Rates" and then enable the checkbox "Use combined daily/weekly/monthly rates?" Check each box for nightly, weekly and monthly.
When this feature is enabled (checked), the combined rates are used to calculate the quote. For example, if the quote is for 5 weeks and 2 days, the following will be used (assuming the default 28 days per month):
1 x monthly rate
1 x weekly rate
2 x daily rate
When the combined feature is checked, all the rate band columns are available and visible. The rates for all visible columns must be entered when using the combined rates mode. If a column is left as "0.00," the system will be unable to quote. Please populate the daily, weekly and monthly, leaving no field as "0.00."