This article outlines the steps required to create and attach a Market Segment to a Rate Plan, using the Rate Wizard.
Open the Market Segments module
Market Segments can be attached to Rate Plans in the Rate Wizard, and can be reported on in InSight B.I. using the "Total Revenue by Market Segment (BETA)" report.
It is important to note that the Market Segment cannot be changed at the reservation level. If you wish to be able to change your segmentation based on the type of individual booking, you may wish to use "Source of Business" instead.
To set up the property Market Segments, go to System Configuration > Rate Wizard > Click Market Segments
Add/Modify Market Segments
In the Market Segments window, click "Add" to create a new Market Segment. (If you wish to change an existing Market Segment, choose Modify instead)
Enter Market Segments
- Enter in Market Segment Name
- Enter the Sort Order number (The Sort Order affects the display order in the Rate Wizard. If left at “0”, the PMS will default to Alphabetical Order)
- Click Ok
Applying Market Segments to your Rate Plans
When creating or editing a Rate Plan in Rate Wizard, there is the drop down menu to attach Market Segment.
- Go to System Configuration > Rate Wizard
- Click on desired Rate Plan > click Edit Rate (or create new Rate Plan)
- Choose desired Market Segment from drop down list > click Update
The Revenue and Room Nights on any reservation made with this Rate Plan, will now show up on the "Total Revenue by Market Segment (BETA)" report in InSight B.I.