How to Build a Rate Template
This article discusses how to set up a rate template using the Rate Wizard. Rate Templates are used to create consistent price differences between your room types, allowing you to just change the base rate, and affect the rates for all room types in a consistent manner. Using this method to manage your rates will save you time, especially when tiered rates are also being utilized.
Choose the rate plan you wish to edit
In the Rate Wizard, select the rate you wish to edit by making sure it is highlighted. Select the “Next” button in the bottom right hand corner of the screen.
Unlock the grid for editing
You now have an opportunity to input the different rate structure for each of your Room Types. Uncheck the “Lock the Grid” checkbox located to the right of the screen. Unchecking this box allows you to work within the Rate Grid above.
NOTE: Room Types will appear based on the Sort Order set in the Room Inventory module (Sytem Configuration > Room Inventory)
Enter the rate differences between your Room Types
At this point what you want to do is define the rate difference between your Room Types. So, in the example below:
- My SQQ is my lowest-priced room type. Therefore, the SQQ is left at $0.00 for the Single and Double columns so when I enter my rate of $100.00, my SQQ will be $100.00.
- There is a $10.00 per-day fee for each additional adult occupant over double-occupancy. Therefore $10.00 and $20.00 are entered into the Triple and Quad columns, respectively. $10.00 is also entered into the Extra column to account for any occupancy above 4-Adults. In this example, there is no charge for Child occupancy, therefore the value in the Child column is always $0.00.
- My SK Room Type is $10.00 higher than my base rate and therefore I input my template rate as $10/$10/$20/$30 and $10.00 for Extra and $0.00 for Child.
- My DQQ Room Type is $25.00 higher than my base rate, and therefore I input my template rate as $25/$25/$35/$45 and $10.00 for Extra and $0.00 for Child.
- My DK Room Type is $35.00 higher than my base rate, and therefore I input my rate as $35/$35/$45/$55 and $10.00 for Extra and $0.00 for Child
- My EKS Room Type is $235.00 higher than my base rate, and therefore I input my template rate as $235/$235/$245/$255 and $10.00 for Extra and $0.00 for Child.
By doing this you are telling RoomKeyPMS that no matter what my base rate is, my SK will always be +$10.00, my DQQ will always be +$25.00, my DK will always be +$35.00, and so on down the list.
NOTE: THESE DIFFERENCES CAN BE ADJUSTED AT ANY TIME BY SIMPLY ADJUSTING YOUR TEMPLATE – OTHERWISE, ROOMKEY WILL DEFAULT TO THESE DIFFERENCES.
Save your work
Once the Rate Template is set correctly, select the Update Rate Template (1) button to save the template.
The Lock the Grid (2) check-box can be re-checked at this time.
This will save the Rate Template for use in the future, and act as the base structure for all of your rates.
Enter your Base Rate
Now notice that if you were to change the Single/Double/Triple/Quad rates above in the Base Rate line, the rest of your Room Types would fluctuate along with your rates based on the template you have set. Moving forward, all you ever need to do is update the Base Rate field to change your rates for all Room Types.