How to setup a Last Minute rate, to fill unbooked Areas and maximise occupancy.

Overview

Last-minute rates can be used as part of a strategy to attract last-minute reservations and fill any remaining vacant Areas.

The Last Minute option on the Rate Type will determine how close to the Arrive Date the Rate Type will become available.

A Rate Type is the charge description that identifies a pricing structure used by Reservations.

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

Advance Purchase Rates 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 capitalise 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).
   Enter a Long Description (Optional).
   Select the additional Rate Type Options (Optional).
7. Select 'Save'. (Do not Exit)
   
    
8. Select the Rate Type Access.
9. Select 'Apply'.
   
    
10. Navigate to the 'Rate Options' tab.
11. Enter the Last Minute Rate 'Less Than or Equal To - Nights Prior to Arrival'.
12. Select 'Save/Exit'.