Using
Multiple Currencies with the IRM
Added 9/23/2003
Article ID#: KI0040
Many
RDP customers using the Internet Reservation Module would like to show
different currencies. For example, the RDP system may be denominated on
the local currency, but the IRM can be set up to show US Dollars. From a
marketing perspective, if the local currency exchange rate is low, the USD rates
are more marketable.
- Create an IRM Only Rate Plan in US
dollars in the RDP system. Sequence the IRM rate plan high as not to
be used by the property.
- Display the IRM only Rate plan on the IRM.
- Edit the appropriate IRM pages to reflect that rate plans are in
approximate US
dollars, fluctuating, and will be converted to local currency rate plans upon receipt of
the reservation.
- Run the 701, Internet Reservations Entered report daily.
- Change the rate plans on the Internet Reservations from the 701 to the
corresponding local currency rate plan.
- Run the 166, Reservations by Rate Plan Report to double check that
all IRM, USD rate plans have been changed to the correct local currency Rate
Plans.
Creating an IRM only Rate
Plan in USD's
- In RDP, menu 98, system
manager menu, 186, option 5, copy room rate set and add discount. Copy the
existing rate set and add the discount that corresponds to the desired
exchange rate. Use 1.00 minus the exchange rate for approximate discount
amount. Example: Exchange rate 1.00 BBS (Barbados Dollars) =.502 USD. 1.00 -
.502= .498. Using option 5, discount 49.8% if rounding up, 49.7% if rounding
down. If you choose not
to calculate, add a 0% discount when copying room rate sets and manually put in
the USD Rate for each season. Take into account whether tax is inclusive or
calculated by the tax code.
- Create the Rate Plan in 98, 186, option 1 using the rate sets you just
created. Use a description that makes sense to the IRM customer. Use a high
sequence number to appear low on the yield management screen. Enter
"Y" in field 13 to Display on the IRM.
