Effective rate management is one of AdvanceCM's key benefits. This article conducts an overview of rate features and how they are managed in AdvanceCM.
Add Rental Rates
To create rates, navigate to Rentals, go to the Rates tab
Click on Rates Table, then on the Add Rates button.
Select Rate Type
Base Rate: required for each rental. This rate is used as a fallback when no Standard or Promotion rates are available for the booking dates. For more information, click here.
Standard Rate: a long-term, ongoing rate that describes the price of your rental over a period of time. It's essentially like the rates you use now on Flipkey and Homeaway. For more information, click here.
Group Rate: these rates can be created for multiple rentals at once. You can create standard rates for the rentals to override group rates for a specific period of time. For more information, click here.
Dynamic Rate: this rate adjusts from low to high based on your occupancy percentage. For more information, click here.
Create Rate Categories
Rate Categories are labels you can use to group rates together. For example, you may want to have one rate category for Airbnb, a second rate category for Booking.com, and a third rate category for your Website.
For more information on rate categories, click here.
Push Rates
Once you've added rates and defined rate categories, you must push rates to your API channels. This process doesn't happen automatically and needs to be initiated by you:
By clicking "Actions > Push Rates" within the Channel Connection
Alternatively, if you mapped AdvanceCM rate categories to channel rate categories, by clicking "Push All Rates" within Rentals > Rates tab > Rate Mappings.
For more information on pushing rates, click here.
Copy Rates Between Rentals
It's currently not possible to copy rates from an existing rental into a new rental; however, with Group Rates, you can create rates and have them applied to multiple rentals. See more on group rates in this article.
As always, please contact us with questions any time. We're happy to help.