Unique rates for each group, company, or wholesaler can be established using a rate plan. Once a rate plan is assigned to a group, the system automatically uses the rate for all group reservations.
For example, establish a $69 group rate for standard rooms and a $109 group rate for suites, using rate plan “GRP1.” Then, any group assigned rate plan “GRP1” receives these rates.
A given group reservation can have multiple rate plans. For example, a guest may arrive two days prior to the start of a conference and pay RACK at $100/night, then pay the GRP1 rate of $69 during the conference. The system also allows the individual to pay for part of the reservation and his company another part.
The system includes various reports showing forecasted and actual revenue by rate plan. These reports, part of the yield management system, track discounted room revenue, helping to maximize profit.