* Please be aware that Yield Management rules only adjust the base rate of the rate plan and not the total including the additional charge for room type.
You can add rules for yield management on this screen. If you apply several rules for the same date you can drag and drop them on the first screen to define which one has higher priority.
When adding a rule you can either apply it to all rate plans or select the ones you want it to apply to, you can also choose if you want the rule by occupancy, advance booking, timed discount or to close out at occupancy level. The increase/decrease is either done by value or percentage.
To create a new Yield Management rule Click +Add
Name – You can name this whatever you would like.
Rate Plans – You can choose which rate plans you want this rule to apply to, leaving it blank will apply the rule to all rate plans.
Room Types - You can choose which room types you want this rule to apply to, leaving it blank will apply the rule to all room types.
Staying from – Choose the start date you want the rule to apply from.
Staying To – Choose the end date you want the rule to apply to.
Rule Type – Choose which rule type you want to apply. Occupancy Percentage, Advance Booking, Timed Discount or Close at Occupancy Level.
Charge Type – Choose if you are increasing or decreasing the value.
Change Value – Enter the amount here.
Change Unit – Select if this amount is a percentage or value.
Threshold – Depending on what rule type you have chosen the options will be different.
Occupancy Percentage - Property - When occupancy of the property is between x and y %
Occupancy Percentage - Room Type - When occupancy of the room type is between x and y %
Advance Booking - When booking between x and y days in advance
Close at Occupancy Level - When occupancy is between x and y%
Timed Discount will show
Excluded Date Ranges – You can set date ranges you want to be excluded from this rule here.
Applicable To – If the rule is not applicable all week, select the days of the week you want this rule applied to.
The following is an example.
You want to increase rates by 10% when the hotel reaches 80% occupancy for the months of July and August. This is how you would fill it in. I have chosen to apply this to all rate plans and room types.
If you just want to prepare rules but not apply them, just leave the Active box unticked at the bottom. You can turn them on and off using the active tick box.
Always make sure you click Save when you have completed the rule.
*Please be aware that Yield Management Rules can take up to an hour to update the whole date range.
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