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How to Create a Monthly Rate in the Rate Wizard

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Creating a monthly rate in the Rate Wizard is a multi-step process that includes:

  1. creating a rate plan with a monthly billing period
  2. (a) customizing a rate template and (b) loading rate prices
  3. making the rate bookable through designated distribution channels

Click below for more information:

STEP #1 Create a New Rate Plan with a Monthly Billing Period

In the Rate Wizard

  1. Select the New button (+ symbol)
  2. In the Create/Update Rate window, complete the following fields:
    • Category
    • Rate Name
    • Rate Code
  3. Enable at least one of the following Distribution Channels:
    • Direct Hotel, CRS, Hotel Website, or GDS
  4. Enter the Minimum Length of Stay
  5. Use the Period drop-down menu to select Monthly
    • In the Daily Rate drop-down menu, select the applicable rate for pro-rating
  6. Select the applicable Market Segment in the drop-down menu
  7. Type a Description for the rate plan
  8. Select the Create button
STEP #2-a Setup the Rate Template for Monthly Billing

Calculate the full price increment for 1 month; this is the price increment you will enter in 4. Enter price increments ...

For Example: 

The daily rate for the SK room type is $10 more than the SQQ, therefore the full price increment for 1 month is: $10.00 x 30(days) = $300.00

In the Rate Wizard

  1. Select the Rate Plan
  2. Select the Next button
  3. In the General tab of the Rate Name window, disable the Lock the Grid checkbox
  4. Enter price increments into the cells in the Rate Template
  5. Select the Update Rate Template button
STEP #2-b Load Rate Prices for Monthly Billing

Calculate the full price for 1 month; this is the base rate that you will load in 3. In the General Tab ...

For Example:

The daily rate for the SQQ room type is $91.67, therefore the full price for 1 month is: $91.67 x 30(days) = $2,750.00

In the Rate Wizard

  1. Select the Rate Plan
  2. Select the Next button
  3. In the General tab of the Rate Name window, enter the base rate into the SingleDoubleTriple, and Quad fields of the Base Rate Row; the rate prices will appear in the Rate Template below the Base Rate Row
  4. Enter the applicable date range into the Date From and Date To fields
  5. Enable the Update Rate Amounts checkbox
  6. Select the Save button

Repeat steps 3-6 above for each additional date range

STEP #3 Make the Rate Bookable

In the Rate Wizard

  1. Select the Rate Plan
  2. Select the Edit button (Pen & Paper symbol)
  3. In the Create/Update Rate window, select the Client Type tab
  4. Click the swivel arrow next to each distribution channel to expand a list of client types; select at least each one client type per distribution channel
  5. Select the Update button
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