Basic of Rate Type? ~ Priyank

The main aim to define the rate type is to name the group so that amount can be stored according to the group for each room.

The one can create unlimited rate types.

Types of Rate:-

1. Rack Rate
2. Corporate or Commercial Rate
3. Group Rate
4. Promotional Rate
5. Incentive Rate
6. Family Rate
7. Package Rate
8. Early Bird Rate
9. Complimentary Rate
10. Best Available Rate (BAR)

Daily BAR Rate Type has a pre-defined daily room rate regardless of room categories (Run of the house) and occupancy, these rates are set according to the day of the week, as per the demand of hotel rooms in the city, special day's or seasons, as per the room demand forecast done by the hotel revenue manager.

Package rate can be a combination of room and meal package like like American Plan (AP), Modified American Plan  (MAP), Continental Plan (CP), European Plan (EP), etc.
We also use this rate type frequently.

1. European Plan (EP) - Includes Room Only
2. Continental Plan (CP) - Includes Bed & Breakfast

3. American Plan (AP) - Includes Breakfast, Lunch & Dinner. In Europe & other countries, it is also referred as Full Board Plan or Full Pension.

4. Modified American Plan (MAP) - Includes Breakfast and either Lunch or Dinner. In Europe and some other countries the Modified American Plan is also referred to as Half Pension or Half Board Plan.

How to Create Rate Type:-

Go Through Below Screenshots