How to set up derived rate plans and override pricing for a room rate, channel rate, or direct booking rate.
About derived rates
Derived rates can help save you time and effort by reducing the need to manually update the price of all rates across all your booking channels. Derived rates are helpful when creating multiple rate plans, as they make it more efficient to adjust pricing across multiple rate plans. For example, you could derive the following rate plans from your standard/best available (BAR) rate:
Non-refundable — decrease this rate by 10%.
Early bird discounts — decrease this rate by 20%.
Breakfast included — increase this rate by AUD 20.
The price for a derived rate will be automatically adjusted when the price for the linked rate is updated.
Deriving rates at a rate plan level will affect all room rates associated with the rate plan, including the room rates, channel room rates, and direct booking rates. If required, you can override the derived pricing.
By understanding derived rates and date overrides, you can create a dynamic pricing strategy that saves you time and helps you maximise your revenue across various channels.
Set up a derived rate
To set up a derived rate plan:
Go to Rooms and rates > Rate plans.
Click on the rate and select Edit.
Under Pricing details > Rate setup, in the Derived from drop-down menu. Select the rate you want to derive from.
In the Adjust daily rates by drop-down, select how you want to adjust rates (for example by an Amount or Percentage).
Enter a value, then select Increase by or Decrease by.
Click Save.
About derived rate o
verrides
Derived rates can help automate your pricing strategy, however you may want to override derived rates to a specific price for a particular channel or date. You can override derived rate pricing for certain room rates, channel room rates, or direct booking rates.
Examples when you might want to override rate plan pricing:
Override specific dates — during a peak season, you might want to temporarily increase the price for your non-refundable derived rate. You can set a date override for the peak season dates and adjust the price accordingly.
Override Direct booking or specific channels — if you're running a flash sale for a specific date on your website or via your channels (OTAs), you can override the derived rate on that specific date to reflect the discounted flash sale price.
Override derived rates
To override derived rates:
Go to Rooms and rates > Rate plans.
Click on the rate and select Edit.
Under Pricing details, click on Override rate plan pricing.
Enter the new price.
Click Save.
Override derived rates for specific dates
To override derived rates for specific date periods:
Click on the rate.
Click on +Add rate override.
Select the date range for the override to apply.
Select how you want to adjust rates (for example by an Amount or Percentage).
Enter a value, then select Increase by or Decrease by.
Click Save.