Rates: Derived Rates (Advanced Rates Add-On)
The derived rates allow for more flexible prices based on your standard rates.
Derived rates calculate their prices by adding or subtracting amounts (Derived Amount rate) or percentage (Derived Percent Rate) to/from an existing standard rate.
When the prices in a standard rate change, the prices in the rates derived from it change automatically as well. This facilitates rate management significantly and reduces the possibility of errors.
Here are some cases, where derived rates can be especially useful:
- Rates for different boards. Often the price for accommodation including meals (BB, HB, FB) is higher than fixed room-only price. This can be managed conveniently with a derived amount rate based on the room-only rate.
- Rates for different number of guests. If the price of a single room is 80% that of a double one, its price can be set with a derived percent rate as -20% of the double room price.
- Group rates. Often group rates offer a percentage discount from standard prices. Again, derived rates can be used here for easier management.
- Promotional rates. Using derived percent rates you can set promo rates, which offer discounts for specific periods and are calculated automatically.
How to set a derived rate
- To set a new derived rate, open an existing rate plan (or create a new one)
- Click New Rate
- Select Derived Amount Rate to add/subtract a fixed amount to/from a selected standard rate or Derived Percent Rate to add/subtract a fixed percent to/from it.
Select Base rate.
! Note that any rate can be used as a base, not just the ones in the current rate plan.
- Fill in the prices (fixed amounts or percentage) for seasons, weekend days and/or special days. If you are adding, enter the value with no sign (e.g. 10). If you are subtracting, enter the value with a minus (e.g. -10).
Just like with standard rates, the derived rates can set different values for the different seasons, weekend or special days. They will be added to or subtracted from the prices in the base rate.
If a derived rate does not specify a value for a day or a season, the base rate price will remain unchanged and valid.
Since derived rates depend on the base ones, if a base rate has no price for a season or a day, there will be no price for them in its derived rate either.
The seasons in a derived rate can be different from those in its base rate. This requires the derived rates to be set in a different rate plan.
Setting Weekend Prices for Derived Rates
If a rate plan is set to have special weekend prices, its rates and derived rates will have a Weekend field for weekend prices in addition to the Price field.
To set weekend prices for a derived rate:
- You have to fill in the Weekend field, so that the derived rate is specifically calculated for the weekend days by adding or subtracting the amount or percentage in this field to/from the existing standard rate.
- If the Weekend field is left empty, the amount in the Price field will also be used for the calculation of the derived rate on the basis of the existing standard rate for the weekend days too.
Derived rates offer the same restriction options as standard rates. Derived rate restrictions are independent and are not affected by the ones in the base rates.
- If certain days are stopped for sale in the base rate, but are allowed for sale in the derived rate, they will be sold through the derived rate.
- If the base rate sets a restriction for max. guests (e.g. 2), the derived may set another restriction (e.g. 3) or none at all.
- The same goes for all restrictions.