A guide to using the Quoted Rate Variance Report in RMS to compare each in-house reservation's rate for a night with what the current rate setup would charge.

Overview

The Quoted Rate Variance Report compares two rates for each in-house reservation on a chosen date: Tonight's Rate, which is the reservation's own rate for that night, and the QuotedRate, which is what the property's current rate setup would charge for the same stay. The QuotedRate is calculated when the report is built. It is not a rate recorded at enquiry or booking. Where a difference exists between these two values, a variance is recorded.

This report is a key tool for Revenue Managers, Front Office Managers, and Property Owners who need visibility over rate integrity across their operation. It helps identify situations where rates have been manually overridden, changed in the rate setup since the reservation was made, or applied inconsistently across channels or Users.

The report lists reservations with the status Arrived whose stay covers the chosen date. No quoting step is needed, and reservations with the status Quote are never listed.

Please Note! RMS is highly configurable. Some Terminology, User Access & Permissions, Images, Labels, and Functions used in these articles may differ from your setup. CLICK HERE to find out more.

Reasons to Use

The Quoted Rate Variance Report provides value across a range of operational and strategic use cases:

• Revenue Auditing: Identify in-house reservations whose rate for the night differs from what the current rate setup would charge, helping to detect rate entry errors.
• Rate Override Monitoring: Detect instances where Users have manually overridden a system-generated rate, enabling management to review whether overrides were appropriate and properly authorised.
• Revenue Leakage Prevention: Quantify the cumulative value of rate variances for the chosen night, using the Grand Total row, to understand the financial effect on your property's revenue.
• Company and Travel Agent Analysis: Group the report by Company or Travel Agent to see whether particular agreements consistently carry rates that differ from the current rate setup.
• Rate Plan Compliance: Confirm that the correct rate plans are being applied in line with your pricing strategy, membership tiers, or corporate agreements.
• Pre-Arrival Checks: Review upcoming reservations with a quoted rate variance before guests arrive to correct any pricing errors prior to check-in.

Prerequisites

Before using the Quoted Rate Variance Report, make sure you meet the following conditions:

System Configuration

• Rates Configured: You must have active, correctly set up Rates in RMS. The report compares the current rate setup against each reservation's own rate - without properly configured rates, variance data will be incomplete or inaccurate.

Guide

In the side menu of RMS, go to Reports > Management > Reservations > Quoted Rate Variance.

1. Select the Date.
   The report can only be run for 1 day at a time.
2. Select the Group By option.
3. Select the Sort By option.
   Select Show Only Reservation with a Variance (Optional).
4. Select Build.

5. 

Column Header Reference

The table below describes each column displayed in the Quoted Rate Variance Report.

A Grand Total row at the end of the report sums the QuotedRate, Tonight's Rate and Variance columns for every reservation listed. When the report is grouped, each group also has its own subtotal.