Thank you for attending the RMS Rates Webinar.
Below are the questions and answers from the webinar.
Q. Will a recording of this webinar be sent out?
A. This is a complimentary webinar so the recording will not be distributed at this time. If you have access to RMS University, the Standard & Advanced Rate Configuration courses are great resources and contain the same information covered in the webinar.
Q. What is the best way to set up Weekly and Monthly Rates?
A. We recommend Derived Rates for Weekly and Monthly Rates. Some of the benefits of this structure were reviewed within the webinar, but we encourage you to contact our support team or schedule a training session to review your specific rate build in greater detail.
Q. We already have Weekly & Monthly Rates set up but not through the Derived Rates. Is there any benefit in taking the time to reset this up through Derived Rates? We would like to be able to see the total amount & period (dates) the guest contracted for on the initial invoice.
A. The way your rates are displayed has to do with the accounting options selected within your setup. Please contact our support team or schedule a training session to review your specific rate build and discuss the benefits of derived rates.
Q. When using Derived Rates instead of using a Monthly Rate, can we set it up as Seasonal?
A. Depending on your accounting configuration, you may want to consider setting up the seasonal rate as a Long Stay Charge. Your seasonal rate could be a derived rate depending on the length of the Master Rate in which it is derived from. You can explore this option within your training environment to see if this would be a good fit, or you can contact RMS for a rate restructure consultation.
Q. Using derived rates for long term stays, can the sales and tourism taxes be automatically waived after a stay of 27 days per the rules of our jurisdiction?
A. Yes. When creating your taxes, you have the option to set a rule that tax is only applicable to the first X number of nights. Once time has surpassed your designated number, the reservation will automatically become tax exempt. You can contact our technical support team for additional assistance setting up this configuration, or if you have access to RMS University, you can find additional information on configuring this setting there.
Q. Does RMS have a general recommendation for setting commissioned OTA derived rates? i.e. Add the commission as a percentage, in full or in part?
A. To ensure we are recommending best practices based on your specific accounting setup, please contact the RMS Technical Support Department or log a Service Request through your system for additional review and guidance.
Q. Is it best to create a minimum length of stay (MLOS) in the Rate Table or via the Control Panel?
A. We recommend creating the MLOS on the Control Panel whenever possible. This method will allow you to view all restrictions on the Rate Manager Chart through the Control Panel Restrictions List. This method can save significant time when building rates for the next season as you may not need as many Rate Periods or Rate Tables. https://helpcentre.rmscloud.com/control-panel-restrictions/view-existing-restrictions?from_search=37553549
Q. How would we create a 3-night minimum stay during holidays?
A. The best way to create a minimum night stay would be through the Control Panel. Depending on how you would like this enforced, a Soft Close or MLOS are the recommended options.
Q. If a person stays after holiday days, does the rate revert back to the previous rate?
A. If a reservation crosses multiple periods, the rate would default to the period with the shortest duration of time. Once that holiday time ends, it would revert back to the current rate period. If you have access to RMS University, the Standard & Advanced Rate Configuration Courses are great resources and contain the same information we covered within the webinar. Another resource option is the help files within the RMS Knowledge Base. https://helpcentre.rmscloud.com/rate-manager
Q. Is there any Control Panel functionality to auto-relax a MLOS within "x" days from a date?
A. This is a fantastic idea for a new feature but unfortunately, it is not a current restriction through the Control Panel. However, you do have the ability to manually override the minimum length of stay through the Rate Manager Chart. Please create this as an enhancement request through the RMS Suggestion Box so we can have it evaluated by our Development Team. https://helpcentre.rmscloud.com/control-panel-restrictions/override-rates-or-mlos-directly-on-the-rate-manager-chart?from_search=37553876
Q. Is there a preferred way to update MLOS for only upcoming weekends and/or for each channel/OTA?
A. By using the Control Panel, you are able to override what is set on the rate table; if you are using separate or derived rates for each OTA, you will be able to manipulate the rate. If the same rate is being sent to the OTA, the minimum length of stay restrictions will not be channel specific. For additional guidance based on your specific rate structure, please contact our technical support team.
Q. Do you still recommend soft close instead of MLOS for booking.com?
A. A Soft Close and MLOS restrictions are used under different circumstances. The MLOS restriction is used to set a minimum length of stay based on the reservations arrival date. (i.e. If a guest is staying Labor Day Weekend, that guest would need to stay a minimum of 3 nights if arriving on a Friday or Saturday). A Soft Close restriction would be used to set a minimum length of stay based on any date the reservation passes through. (i.e. If a guest is planning to stay at your property for Labor Day and arriving anytime between Wednesday and Sunday, the guest would need to book a 3-night reservation regardless of arrival day).
Q. When I set a Stop Sell for all Room Types and Rates, I still need to go in and close some rates in the Close Rate tab. Why is this?
A. There can be varying restrictions needed depending on how your rates are configured. Please contact the RMS Technical Support department assistance based on your specific rate structure.
Q. We would like the ability to make a refundable sundry charge added to the deposit tab to handle the rate, tax and refundable deposit.
A. We are constantly building new features with each release to try and meet all of the needs of our clients. If you could please create this as an enhancement request through the RMS Suggestion Box we will have it evaluated by our Development Team.
Q. These webinars are great! When will more webinars be coming?
A. Thank you for your feedback and support! We plan on hosting multiple new webinars in 2020, so stay tuned for more information coming soon.