What is Room Rate Plan?

Hello Softinn PMS and Softinn Channel Manager users! Wonder what Rate Plan is & how you could strategize your Rate Plan to attract guests and ultimately get more bookings?

A Rate Plan allows you to sell the same room in different ways. It is up to the type of strategies your hotel use in the revenue management. Generally, hotels create different rates for each room type based on, but not limited to, as below:

  1. Rate plan by the OTA channels: i.e. Rate Plan for Agoda, Rate Plan for Booking.com, Rate Plan for Expedia, and many more.
  2. Rate plan by the guest category: i.e. Rate Plan for Walk-in guest, Rate Plan for Senior Citizen, Rate Plan for Government Servant, Rate Plan for Corporate VIP, and many more.
  3. Rate plan by the season: i.e. Rate Plan for School Holiday, Rate Plan for low season, and many more.
  4. Rate plan by Package: i.e. Rate Plan for Non-refundable, Rate Plan inclusive Breakfast, Rate Plan with Minimum 2 nights stay, and many more.

It works the magic behind the scenes so guests can have different options of rate to choose from for the same room type when planning a hotel stay (i.e. 1 room type could have more than 1 rate plan).

Following are screenshots showing you the sample of the Room Rate Plan that you could create for your Hotel in Softinn PMS.

After you’ve added the Rate Plan, you’ll need to do the Rate Plan mapping. By proceed with this step, you’ll map the Rate Plan to the Room Type that you preferred.

After you’ve done the Rate Plan mapping, you’ll be able to view what is the Rate Plan for each Room Type on the Inventory page.

One room type may have more than 1 rate plans. In this case, you’ll see that the Room Type “MY SPACE AT KOTA” have the following rate plans :

  1. Best Available Rate
  2. Non-Refundable Rate
  3. Booking.com Rate
  4. Walk-In Rate

If you are using Channel Manager, you then need to map the Rate Plan from PMS to the Rate Plan you created on your OTA, accordingly.
(a) If you are selling the same rate for your room across ALL OTAs, then you could just setup 1 rate plan and map that single rate plan to ALL OTAs.

(b) However, if you sell different rate of the room on different OTAs, then you would need to create different rate plans for each OTA, and then map the right rate plan to the right OTA accordingly. From the above screenshot example, you sell 2 different rate plan for “MY SPACE AT KOTA” room type on Booking.com, which are:

  1. Non-Refundable Rate
  2. Booking.com Rate

You would need to map the rate plan accordingly from PMS to Booking.com.

(screenshot from Booking.com)

(screenshot from Softinn PMS)

 

(c) Rate Plan for Walk-in Guest

On top of that, you can also create a Rate Plan for Walk-in Guest only. Therefore, whenever there is a walk-in guest, you can select the rate plan when creating Reservation in PMS (shown as below):

After you’ve select Walk-in Rate, the Rate will be auto reflected by the system. Yet, you could still amend the Daily Rates amount manually, if needed.

 

Hope the above helps. Let’s create room rate plans to increase booking revenue for your Hotel! 😀

NOTE:
Check-out the following videos to know more :

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