Business Rules in RevControl include minimum and maximum rates, occupancy supplements, and minimum length of stay (MinLOS). These form the basis for the occupancy-based rate recommendation and can be customized per room type and per day.
The Business Rules are the core of the pricing strategy in RevControl and consist of four components: minimum rates, occupancy supplements, minimum length of stay (MinLOS), and maximum rates.
Minimum Rates
When setting the occupancy-based rate recommendation, minimum rates must be established. Since RevControl can calculate forecasts and rate recommendations up to 365 days in advance, the business rules, including minimum rates, should be set for at least thirteen months ahead, ideally extending to the end of the next calendar year. This ensures that RevControl, when Auto Publish is enabled, does not publish rates below the minimum rate. The minimum rates can be set per room type, with each room type needing to be entered separately.
Occupancy Supplements
Occupancy supplements are additional charges applied to the minimum rates when certain occupancy thresholds are reached, based on the forecast. These thresholds are displayed as percentages above the grid. When the expected occupancy (forecast) exceeds a certain threshold, an additional supplement is added to the minimum rates. If a column is left blank, RevControl uses the value from the column to the left.
Note: the occupancy supplements are not cumulative and are based on the forecast. It is also possible to base the occupancy supplements on the current occupancy (business on the books). Additionally, occupancy supplements can be entered per room type. In that case, the occupancy supplements for each room type must be entered separately.
Minimum Length of Stay (MinLOS)
The MinLOS is a restriction that specifies the minimum number of nights that must be booked. This setting is by default based on the forecast rather than the current occupancy. You can set the MinLOS per day, month, or occupancy level. When the forecast reaches a certain occupancy threshold, the MinLOS is automatically applied. The MinLOS can also be set separately for each room type. If a column is left blank, the value from the previous column is carried over.
Maximum Rates
Maximum rates set the upper limit on what a hotel can charge. These can be set for the entire hotel or per room type. The maximum rates feature is activated by the Customer Success team. When Auto Publish is enabled, the system will not publish rates above these maximum limits. Only manual adjustments in the Rate Calendar can set rates above these limits. RevControl will alert you if rates exceed the maximum rates.
Contact information for support:
To activate the maximum rates or for other inquiries, you can contact our Customer Success team at support@revcontrol.com or through the chat function in RevControl.