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CF Table - Market Codes

Added 12/26/02 - Article ID#: K000128

Overview

Market codes define the type of traveler who is staying at the property.  For example, are most guests senior citizens, business travelers, family vacationers, or walk-in guests?  A sales force armed with this information, coupled with source of business tracking, has a major jump on the competition for reaching their property’s potential guests through a useful advertising medium.  For example, knowing that 55% of the property’s business comes through tour agencies, the sales department can target these groups through trade magazines and newsletters and reap the profits with higher occupancy and A.D.R.

Add market codes with option 090 on the System Manager menu.  Use option “U” - “Update Table Records” to access table CF and add two character codes with specific descriptions.  A sample list of market codes follows:

 

x      Market and Source of Business codes cannot be deleted in mid-year.  These codes are part of the statistical file and are necessary for complete statistical information.  If a code is no longer in use, change the description to “DO NOT USE - OUTDATED” and delete the code at yearend.  Changing a market or source of business description is also not recommended since statistical data is tracked by code.  For example, changing code “08 - Wholesaler” in mid-year to “08 - Travel Agent” will skew statistical reports since revenue and occupancy figures will continue to accrue to code “08”, regardless of the description.  In this scenario, year-end figures for code “08” will include wholesaler and travel agent reservations!

 

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