How do I update rate code details with new price and protect existing reservations booked under previous price?

There are cases when the Reservation team take in bookings for the next year (Y+1) under the current year (Y) rates.

When the management has finalized and approved (Y+1) rates, these prices need to be updated in the rate code details. However, the hotel would like to honor those existing reservations (Y+1) that had been booked under (Y) prices.

This article describes how the user can expire rate code details and then create new ones.

Therefore, all reservations taken against the original rate detail will maintain their agreed booked rates. Any future reservations will be booked against the new rate details and at the correct price.

*Note: This applies to properties that use season periods in the rate code details.

In this example for the seasons, there is an extension period (Y) created as "2011 Extend".

In this example for the seasons, there is an extension period (Y) created as "2011 Extend".

The season has been assigned in the rate code detail.

The season has been assigned in the rate code detail.

A reservation had been booked against this rate detail and price.

A reservation had been booked against this rate detail and price.

Y+1 (2012) rates has now been approved. In System Data, create a new season for 2012.

Y+1 (2012) rates has now been approved. In System Data, create a new season for 2012.

Copy the rate detail.

Copy the rate detail.

Delete the old season.

Delete the old season.

Assign the new season e.g. 2012 and input the new price.

Assign the new season e.g. 2012 and input the new price.

There are now two rate code details for the same room type.

There are now two rate code details for the same room type.

Old detail #6105

New detail #6108

 

Open the old rate detail #6105:

Open the old rate detail #6105:

Expire this rate detail. You can do it by setting the validity to yesterday’s date (current protel date minus 1). Click OK.

Expire this rate detail. You can do it by setting the validity to yesterday’s date (current protel date minus 1). Click OK.

Publish changes to running FO.

 

Rate detail #6105 has been expired.

Rate detail #6105 has been expired.

Check the old reservation.There is no change in the price - it takes from the original rate detail.

Check the old reservation.There is no change in the price - it takes from the original rate detail.

Users do not have to manually modify the price.

 

Make a new reservation. It is booked against the new rate details and price.

Make a new reservation. It is booked against the new rate details and price.
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