Rate Discounts and Derived Rates – Now Available to All!

While extremely flexible and powerful, Rate Plans, Rates and Seasons can get complex and hard to manage if you offer a variety of rates and/or discounts. We’ve heard your feedback, and with this release have made it a lot easier to manage rates by introducing great flexibility for setting up a variety of discounting scenarios.

Basic Rate Discounts (also known as Derived Rates)

Rate Discounts are at their core derived from your existing default rates. Therefore, in their most simple form, a Basic Rate Discount is just a percent or flat dollar amount below (or above) your default rate. In other words, a “Derived Rate.” This works well for your merited rates like AAA, AARP, Military, etc. No longer do you need to setup an entire rate, reconfigure seasons, and manually re-compute prices for each season.  Instead, you simply update your base rate and your basic discounts will automatically reflect those base rate and seasonal price changes.

Stay-Based Rate Discounts

An extremely common scenario we hear about is a concept we’ve termed “Stay-Based Rate Discounts”. We current support 2 flavors of Stay Based rate discounts: Qualifying-Day Rate Discounts and Graduated Rate Discounts.

  • Qualifying-Day Rate Discounts make it simple to setup an offer to stay 2 nights, get the 3rd night 50% off, or stay 6 nights and get the 7th night free.
  • Graduated Rate Discounts allow you to encourage longer stays with discounts that apply evenly to each date of the entire stay. For example, stay 2 nights to get 10% off your entire stay, stay 3 nights to get 15% off your entire stay, or stay 5 nights to get 20% off your entire stay. There are no limits to the graduated discount levels, and you control the details at each level.

Time-Based Rate Discounts

The 3rd and last type of Rate Discounts we are introducing are “Time-Based Rate Discounts”. We also offer 2 flavors here: Last-Minute-Booking Rate Discounts and Advanced-Booking Rate Discounts.

  • Last-Minute-Booking Rate Discounts: Save 20% for any reservation made within the next 7 days
  • Advanced-Booking Rate Discounts: Save 20% now on a reservation for next season.

Applying Optional Restrictions

Finally, we offer a variety of ways to optionally restrict and limit the availability of your Rate Discounts in order to drive up their value and make managing them easy. Discounts can be restricted by:

  • Days of the week. For example, limit to midweek or weekend nights.
  • Calendar dates. For example, limit to certain weeks, months, or whatever time of the year makes sense for your property.
  • Units or Unit Types. Maybe your discount should only apply to certain units or certain types of units, no problem, we got you covered.
  • Booking Engine visibility and Promo Codes. Rate Discounts can be shown to any potential guest that visits your Booking Engine OR they can be shown only if the guest enters a Promo Code OR they can be hidden from the Booking Engine completely and only available to your internal reservationists. The choice is yours!

Learn More

If you’d like to learn more and get into the nitty gritty details of how Rate Discounts look and feel in rezStream Cloud, please visit our Knowledge Base article on Rate Discounts and get started with Rate Discounts today!

As always, we hope you enjoy this latest update, and thanks for using rezStream!

Published: November 16, 2020