The Rates Calendar in RevControl provides an overview of hotel prices, published and recommended rates, and KPIs. You can manually or automatically adjust prices and view key data such as competitor rates and events.
The Rates Calendar in RevControl is an essential tool for managing your hotel rates. It provides an overview of both published and recommended rates, along with key performance indicators (KPIs) that assist in making pricing decisions. Below is a guide on how to effectively use this tool.
Navigation and Settings
You can find the Rates Calendar under Rates > Calendar > Rates. In the blue bar at the top, you can adjust the date. In the top right corner, you can switch between room types.
Daily Overview and Rate Colors
The Rates Calendar displays a box for each day with the published rate in the center, which is colored green, orange, red, or gray:
- Green: The rate is within the margins of the recommended rate.
- Orange/Red: The rate is outside the margins of the recommended rate.
- Gray and zero price: No price has ever been stored or sent.
The recommended rate is shown in blue above the published rate. By clicking on this blue rate, you can adopt RevControl’s recommended rate.
Additionally, a blue moon icon may appear, indicating an advised MinLOS (Minimum Length of Stay). The moon icon next to the published rate shows the published MinLOS.
If an exclamation mark appears next to the published rate (see September 22 in the screenshot above), it means the rate is below the set minimum price or above the set maximum price.
Key Performance Indicators (KPIs)
Below the published rate, four key KPIs are displayed. These can be customized in the user settings to help you quickly decide how to adjust the price.
Adjusting Rates
You can adjust rates in several ways within the Rates Calendar:
- Adopt Recommended Rate: Click on the blue recommended rate.
- Manual Adjustment: Click on the published rate to enter a new price. Save the change and lock the day if necessary. Here you can also set a minimum length of stay.
- Apply Recommendations: Apply all system recommendations or only the rates that are orange or red.
- Bulk Update: Set rates and restrictions for specific periods or days of the week.
Daily Details
By clicking the information button, you get a detailed overview of the factors influencing the rate recommendation. On the left, you see internal factors like occupancy trends and forecasts, and on the right, you see external factors such as competitor rates and events.
Derived Room Types
In the top right corner, you can switch between room types. When you adjust the price of a base room type, the prices of derived types are automatically adjusted based on the supplements set in Settings > Mapping > Room Type Supplements (referred to as Rate Plan Supplements, Channel Supplements, or Accommodation Supplements for some customers). For a derived type, you adjust the price difference relative to the base type, not the price itself.
Conclusion
The Rates Calendar in RevControl provides the tools you need to effectively manage your pricing strategy. Whether you prefer to adjust manually or rely on RevControl’s recommendations, this tool helps you make quick and efficient decisions based on comprehensive data and analysis.