RDPWin

Reservations - Long Term Rates

Overview

Rates for long term reservations can be calculated in different ways. Select the option that works best for your property.

There are five different ways to configure long term rates:

Choice of Long Term Rates on Long Term Reservations.
Override a monthly rate.
Monthly rent with a fixed amount for every month of the year.
Monthly rent based on seasons and a fixed monthly rate for each season.
Monthly rents with a rate change mid-month.

Choice of Long Term Rates on Long Term Reservations

The long term rate feature allows for multiple long term rates to be configured and available for selection on a long term reservation. The long term rate has a different seasons that can be configured for different rates based on the time of year. Configure the rate set to have the total amount for the month, not the nightly rate. On the Rate Plan, check Long Term box. This allows the user to select from a the long term rate plan choices, instead of just having one rate or entering a monthly rent amount.

Using the long term rate feature allows different seasons to be calculated based on the rate set. If the reservation does not start on the first day of the month, the system pro rates the rate using the season price from the first day of the month.

In RDPWin, go to the System main menu --> Switches --> set switch 416-76 (Use Choice of Rate Plans When Calculating Long Term Rates) to Yes. This turns on the long term rate feature.
Go to the System main menu --> Rates --> Rate Sets --> Add.
Enter the description of the rate set in the Description field.
Select the Season Table for this rate set. See Season Table for more information.
Select the G/L Account needed for the rate set (usually the Nightly Room Revenue account).
Select the Tax Category.
Click the Save button.

Select the room or room type from the Room/Type drop down.
In the People Classification section, select the people included in the rate set by checking the Use in Rate Set checkbox.
Enter the Starting number of people and Maximum for each people classification.
If applicable, enter the Extra Person Charge amount for additional persons beyond the base people. See Extra Person Charges for more information.
If using an extra person charge, enter the number of people the rate is based on in the Base People field, such as 2 if the rate is based on double occupancy.
Select the Season Letter by checking the box next to the letter and enter the amount. Note: in order to see which seasons are in use, click the View button next to the Season Table field.
Enter the Monthly amount in the season field, not the nightly rate.
Click the Generate Rates button.

Verify all rate prices are correct before clicking the Save & Close button.
Add the long term rate plan by going to the System main menu --> Rates --> Rate Plan --> Add.
Select the Room Only Rate Plan radio button.
Enter the 4-character code for this rate in the Rate Plan field. This can be alphanumeric and same code used in the rate set.
Enter the description of the rate in the Description field.
Click Save.
Select the People Pattern for the rate. 1-Default People Patrn will most likely be the only option to select from the drop down. Click People Patterns for more information.
Select the rate set created in the steps above from the Rate Set drop down.
Enter the sequence number for the rate in the Sequence field, which is the order the rate will display when making a reservation. Click the View button to see the current order of existing rates. Click the Default button for the system to assign the next sequence number in increments of 5.
Select the appropriate market code for the rate in the Market Code field or leave the field with 'Prompt' and the reservationist will be able to enter the market code on the individual reservation.
Enter the Start Date and End Date if the rate is only available for a specific time period. If the does not have date limitations, leave both fields with '(None)'.
Check the Long Term box. The rate must have this selected in order to display in the long term rate options on the reservation.
Enter the Minimum Nights and Maximum Nights for the rate if applicable. If there is no minimum or maximum, leave both fields with '0.' Note: the system will follow the long term rate rules from the Reservation Configuration --> Long Term tab.
Enter the Required Starting Day if the rate begins on a specific day of the week.
Select the Custom Help file from the Custom Help drop down if applicable. The help file can be created to give the reservationist additional information about the rate. See Custom Help for more information.
Save & Close.

Override a Monthly Rate

Monthly rents are overridden when making a long term reservation for a fixed amount throughout the duration of the reservation or, in most cases, a fixed rate for the entire year. When departure during a month is not the full month the monthly rate will be prorated.

Monthly Rent w/Fixed Amount Each Month

To use fixed rates rather than manually entering long term monthly rates, use rate sets and rate plans to automate the process. Monthly rates can only be configured using one long term rate plan. The long term plan cannot have additional discounted rate plans, because the rate plan must be selected in Long Term Configuration.

Create a LONG rate set/plan and set Calculate Monthly Rent Based on Daily Rates for Rate Plan to LONG. This type of monthly rate configuration will need to have a special season calendar with 3 seasons. See Add Rate Set tutorial for steps on how to configure this set-up.

This configuration works effectively for properties with fixed monthly rates that vary by room type. Avoid manually overriding the rate for each different room type; instead, the system assigns the appropriate rate automatically.

Sample of Monthly Rate=$2,000 based on length of month:

Season A - months with 30 days (Apr., June, Sept., and Nov.) are $66.67 per night
Season B - months with 31 days (Jan., Mar., May, July, Aug., Oct., and Dec.) are $64.52 per night
Season C - month of February with 28 days is $71.42 per night

Sample Seasonal Table:

Create the rate set and rate plan. See Add Rate Set for exact steps. A general overview of the steps is listed below.

Navigate to System | Rates | Rate Set.
Add a new Rate Set named LONG.
Select the room type for which the rates are defined (i.e., 2BR = $2,000/month, 3BR = $3,500/month).
Set the Seasonal Amounts.
Set all Rate Set attributes such as GL account, tax category, etc.
Generate Rates and save.

Monthly Rent Based on Seasons and Seasonal Monthly Rates

Calculate monthly rents based on seasons and a fixed monthly rates for each season such as a 2-bedroom condo rental for $2,000/month from Oct 1st through May 31st and $3,000 per month from June 1st through Sept 30th. The Seasonal Table QL must be updated to include both summer and winter rates as well as the number of days per month. For example:

Season A ~ 30-day winter season. Months with 30 days between 10/01 and 05/31 (Apr. and Nov.) are $66.67 per night
Season B ~ 31-day winter season. Months with 31 days between 10/01 and 05/31 (Jan., Mar., May, Oct., and Dec.) are $64.52 per night.
Season C ~ 28-day winter season. Month of February between 10/01 and 05/31 with 28 days is $71.43 per night.
Season D ~ 30-day summer season. Months with 30 days between 06/01 and 09/30 (June and Sept.) are $100 per night.
Season E ~ 31-day summer season. Months with 31 days between 06/01 and 09/30 (July and Aug.) are $96.77 per night.

Update the rate set and rate plan.

Navigate to System | Rates | Rate Set.
Add a new Rate Set named LONG.
Select the room type for which the rates are defined (i.e., 2BR = $2,000/month in winter and $3,000/month in summer).
Set the Seasonal Amounts. Check the checkboxes for A - E and enter the daily rates based on A=2,000/30; B=2,000/31; C=2,000/28; D=3,000/30; and E=3,000/31.
Set all Rate Set attributes such as GL account, tax category, etc.
Generate Rates and save.

Monthly Rent w/Mid-month Rate Change

Monthly rents where rates change during the middle of the month and are based on fixed monthly rates. For example, consider that a property has four seasons with different long term rates for each season. The monthly rate for a 2BR during winter is $2,000; $2,500 during spring; $3,000 during summer; and $2,200 during fall.

Winter is Nov. 16th - March 15th
Spring is March 16th - May 15th
Summer is May 16th - Aug. 15th
Fall is Aug. 16th - Nov. 15th

Season A ~ 30-day winter season. Months with 30 days between 11/16 and 03/15 (November only) are $66.67 per night
Season B ~ 31-day winter season. Months with 31 days between 11/16 and 03/15 (Dec., Jan., and Mar.) are $64.52 per night
Season C ~ 28-day winter season. Month of February between 11/16 and 03/15 with 28 days is $71.43 per night.
Season D ~ 30-day spring season. Months with 30 days between 03/16 and 05/15 (April only) are $83.33 per night.
Season E ~ 31-day spring season. Months with 31 days between 03/16 and 05/15 (Mar. and May) are $80.65 per night.
Season F ~ 30-day summer season. Months with 30 days between 05/16 - 08/15 (June only) are $100 per night.
Season G ~ 31-day summer season. Months with 31 days between 05/16 - 08/15 (May, July, and Aug.) are $96.77 per night.
Season H ~ 30-day fall season. Months with 30 days between 08/16 - 11/15 (Sept. and Nov.) are $73.33 per night.
Season I ~ 31-day fall season. Months with 31 days between 08/16 - 11/15 (Aug. and Oct.) are $70.97 per night.

Navigate to System | Rates | Rate Set.
Add a new Rate Set named LONG.
Select the room type for which the rates are defined (i.e., 2BR = $2,000/month in winter; $2,500 in spring; $3,000 in summer; and $2,200 in fall).
Set the Seasonal Amounts. Check the checkboxes for A - I and enter the daily rates based on A=2,000/30; B=2,000/31; C=2,000/28; D= 2,500/30; E=2,500/31; F=3,000/30; G=3,000/31; H=2,200/30; and I=2,200/31.
Set all Rate Set attributes such as GL account, tax category, etc.
Generate Rates and save.

Click these links for Frequently Asked Questions or Troubleshooting assistance.

02/04/2013