Adaptive Rates

Park IT now includes a new feature which expands the already comprehensive rate options within the program. To fully understand the new feature it is necessary to understand the existing fundamental operation of the rates. Here are some main points to retain:

1. Your Park IT database consists of various categories (the tabs across the bottom) and each category has it's own rate matrix.

2. Categories can have multiple rate matrixes which are tied to your seasons, the change in season changes the rate matrix that Park IT uses to price.

3. When there is a conflict of season across a booking range, Park IT will always choose the higher rate.

4. The Quotation Calculator is used to set the rate for the booking and the calculator calls up the highest rate across the booking date range to set the quotation, the called-up rates can be altered to suit individual needs by changing the rate in the 'Daily' 'Weekly' or 'Monthly' fields (if you do alter the rate, you will notice the quotation change accordingly). Once you click 'OK' to move on to entering the client information the quoted rate is locked into that booking for the duration of the booking. It can be changed manually later if required.

The New Feature:
The new feature allows you to set a flexible booking rate based on the rate matrixes, this means that a booking which spans two seasons will use the season rate applicable to the payment date range.

Example:
Lets say that I have set September as a high season with a monthly rate of $600, my base rate is $400 per month. When I take the payment for August the amount will be $400 + taxes, when I take the payment for September the amount will be $600 + taxes, when I take the payment for October the amount will be $400 + taxes.

The feature has been included to give more flexibility in handling long term bookings, this feature should not be used for short term tourist bookings.

How to Set this feature up for a new booking:
At the 'Quotation Calculator' stage, simply change the two rate fields to $0. as in the sample below.

How to Set this feature up for an existing booking:
Go into the reservation details for the client and choose the 'Reservation' tab. Change the 'Quoted Rates' to $0.