Rate Loading and Managing Rates to the GDS and OTA Channels
Posted by Jeff Tweddale on 30 Oct 2009 04:50 PM
BookingCenter gives you the flexibility to allocate special rates, rooms, and number of rooms to each specific agent. This is especially helpful when off-setting some costs that come with certain agents.
Rate Loading for Agents (also known as Channels):
If you simply want to increase or decrease your rack rate by a percentage amount for all Room Types allocated to an agent, you can "load" the rate with a higher (+) or lower (-) percentage that will be automatically calculated and applied to all allocated rates for that channel. This can help compensate for a higher commission structure with an OTA by adding a percentage to the rate (+25 would be adding 25% to the allocated rate) OR honor the negotiated OTA Net Rate where you sell your room at a discount to an OTA (think of it as selling your room wholesale) (-20 would be discounting your rate 20%).
Please note that the rate loading of an agent (also known as a channel) will be applied to all rates allocated to that agent.
Quick steps to add a "Rate Load" a Channel:
Creating unique or different Rates for Online Distibution, whether GDS or OTA: If you wish to assign completely different rates to your GDS or OTA Channel, go ahead an create a new rate in your BookingCenter software. Keep in mind that these rates will only affect reservations that enter the system AFTER the change is made. These rates will not be retroactively applied to bookings already in the system.
For step-by-step instructions,
Try the Yield Management Add-On Module to get more Power in Allocations: An additional BookingCenter tool that can be added to your BookingCenter program is the Yield Management Module. The YMM is able to automate these 'rate loading' events based on occupancy and time conditions for your property, without requiring you to manually managed each rate and agent separately. This is very powerful tool to add to your BookingCenter package and can make rate management conform to your business goals easily and seamlessly.
See: http://www.bookingcenter.com/products/modules/yield_management.html for details.