The Advance Purchase option on the Rate Type will determine how far in advance from the Arrive Date that the Rate Type must be booked.

Overview

The lead time for an Advanced Purchase Rate refers to the time between when a Guest makes their Reservation and the Arrive Date on the Reservation.

Promotions can be run to capitalize on lead time trends, improving overall occupancy levels.

Advance Purchase Rate Types are designed to entice early bookers to commit sooner by providing incentives for booking a certain period of time in advance of their arrival.

Last Minute Rates capitalize on those last minute bookers and provide the ability to entice Guests to fill the last available spaces close to their Arrive Date.

Revenue Managers can use the Reservations by Lead Time Report or the Online Reservations by Lead Time Report to review lead time trends in RMS.

Enterprise customers can use Rate Type Property Rules to share a Rate Type between properties and maintain separate Rate Type rules or conditions per property.

The Rate Hierarchy determines which rate rules take precedence when a rule exists on more than one layer of the rate.

Guide

In the side menu of RMS, go to Charts > Rate Manager.

1. Select 'Rates'.
2. Select 'Rate Types'.
   
    
3. Select 'Add'.
   
    
4. Select a Rate Structure.
   Enter a Rate Code (Optional).
5. Enter a Rate Type Description.
6. Enter a Charge Description.
   Select a General Ledger Account Code (Optional).
7. Enter a Long Description.
   Select the additional Rate Type Options (Optional).
8. Select Save.
   
    
9. Select the Rate Type Access.
10. Select 'Apply'.
    
     
11. Navigate to the 'Rate Options' tab.
12. Enter the Advanced Purchase Rate 'Available + Nights from Today'.
13. Select Save/Exit.