How to setup Yield Management
The Yield Management is a powerful tool of your PMS: it triggers automatic rate changes based on the occupancy level of a room type or your run of house. The price change is governed by rules that you will have to configure in the system, in order to define how the rates should change when certain conditions apply.
Yield Management Rules
Let us start by defining what rules you want the system to follow.
select on the blue link Yield Managament Rules under section Rates --> selectADD
enter a name for RULE CODE --> select the DATE RANGE --> select Room Type --> select RATES for which you want the rule to apply
Choose your conditions by selecting the relevant choices from the scroll down menus:
In the example below, I have set up a rule so that if my availability is more than 80% for the date range I have selected, the system will automatically decrease the price of 20%.
REMARK:
You will be able to place different rules and also different conditions within the same rule, so long as they are not conflicting with one another. For this reason, we advise to keep these rules as straightforward as possible:
It is important to understand that the availability value you place in the conditions is defined by what room types/rates the rule applied to