The Advance Purchase option on the Derived 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 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.

A Derived Rate determines it's pricing using a pre-set adjustment amount against the selected Master Rate Type.

A Derived Rate can be used to simplify rate management by creating a single standalone Rate Type or using Multiple Best Available Rates and creating all additional rates as Derived Rates based off this standalone rate or another Derived Rate.

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. Navigate to the 'Derived Rate' tab.
4. Select 'Add'.
   
    
5. Select the Derived From (Master Rate).
   Enter a Code (Optional).
6. Enter a Description.
7. Enter the Rate Charge Description.
8. Enter the Lead Time for the Advance Purchase Rate.
   Select the required Derived Rate Options (Optional).
   
    
9. Navigate to the Adjustment Amounts tab.
10. Select the Adjustment Type.
11. Enter the Adjustment Amount.
12. Select 'Apply To All'.
13. Select the Rate Period option.
14. Select 'Save/Exit'.
    
     
15. Select the required Rate Type Access.
16. Select 'Apply'.