What are Derived rates
The derived rates allow for more flexible prices based on your standard rates. Derived rates calculate their prices by adding or subtracting amounts (Derived Amount rate) or percentage (Derived Percent Rate) to/from an existing standard rate.
When the prices in a standard rate change, the prices in the rates derived from it change automatically as well. This facilitates rate management significantly, reduces the possibility of errors and ultimately, saves you a lot of time.
Cases where derived rates can be especially useful
Derived rates can be used for many different cases. Here are some of the most common ones:
- Rates for different boards - Often the price for the accommodation including meals (BB, HB, FB) is higher than fixed room-only price. This can be managed conveniently with a derived amount rate based on the room-only rate.
- Rates for different guarantee/cancellation policies - Using derived rates you can set your e.g. Non-refundable rates to be always a certain amount or % lower than your Flexible rates.
- Promotional rates - Using derived percent rates you can set promo rates, which offer discounts for specific periods and are calculated automatically with a % discount from the Base rate.
- Rates for different sales channels - Clock PMS+ is very flexible in its rate functionality and allows you to publish/use one rate across many sales channels (your website, OTA's/channel manager and other). However, using such an approach, you do not have too much control - if you want to stop sales just for a specific channel, you can't since stopping it, this will stop sales on all channels. To tackle this, you can create separate rates of each sales channel and by doing this, you can stop sales on one channel, while continuing selling on another. In regards to pricing, these separate derived rates can have a price difference (e.g. be 15% higher than your website rates) or do not have a price difference from the base rate.
Specifics
- Derived rates can have the same price as the base rate - you simply don't apply a price/percentage difference.
- Derived rates can be based on other derived rates - e.g. your RO rate is your base; BB is 50 GBP higher than the base; HB is 50 GBP higher than the BB.
- Derived rate restrictions are independent and are not affected by the ones in the base rates - e.g. if you apply a stop for sale only in the base rate, the derived will continue selling. If the base rate has a Max 2 adults restriction, it will not be transferred to the derived. You need to apply the restriction in the derived as well (with the same or different value - e.g. the derived will have Max 3 adults restriction instead).
- Since derived rates depend on the base ones, if a base rate has no price for a season or a day, there will be no price for them in its derived rate either.
- The seasons in a derived rate can be different from those in its base rate.
- The derived rates can set different values for the different seasons, weekend or special days. They will be added to or subtracted from the prices in the base rate - e.g. in high season the derived is 75% higher than the base, while in low season the derived is 25% higher.