How to Use VRM's Discount Functionality to Raise Profit
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Transcript of How to Use VRM's Discount Functionality to Raise Profit
NEW DISCOUNT FUNCATIONALITY
In Order to use the new Discount Functionality, you need
to be using a new online search engine and booking
engine. If you are using one of our Responsive VRM
Book Easy Websites, you have access to this
functionality. If you are not, please contact HELP to see
if you can utilize it.
NAME AND DESCRIPTION FIELDS
• The “Name” field is what you see
displayed in your list of discounts.
Be sure to be descriptive so you
know which discount this is.
• The “Description Field” is optional.
You can use this field to include
more details about the discount.
Right now this will not display
anywhere for the guest to see, but
that might change in the future.
AMOUNT FIELD
• You can select to either have
your discount/mark up as a
percentage or a dollar
amount.
• The “Prorate” box only works
if you select “Percentage”.
PRORATE BOX
- The “Prorate” box can only be used in conjunction with “percentage” discounts/markups.
- If the Prorate box is not checked, the percentage discount will calculate against the entire rent
amount.
- If the Prorate box is checked, the percentage discount will only calculate against the days with
the “Arrival” and “Departure” date timeframe.
ARRIVAL AND DEPARTURE DATE FIELDS
Select the Check-in and
Check-out Dates you
would like a reservation
to be within in order for
the discount/markup to
apply.
(OPTIONAL) RESERVATION ARRIVAL CONFIGURATION BOX
• If the “(Optional) Reservation Arrival
Configuration” box is NOT Checked, a
reservation with EITHER a check-in date
OR check-out date between the “Arrival”
and “Departure” dates entered will
receive the discount/markup.
• If the “(Optional) Reservation Arrival
Configuration” box IS Checked, a
reservation with BOTH a check-in date
AND check-out date between the
“Arrival” and “Departure” dates entered
will receive the discount/markup.
APPLICABLE DATES
The “Applicable Dates” indicate between what dates a reservation
has to be made in order for the discount/markup to apply.
AUTO DAY
The “Auto Day” fields determine how many days a reservation needs
to be in order for the discount/markup to apply.
AUTO DAY FIELDS
• When the “Auto Day Type” is set to
“Equal to”, a reservation has to be equal
to the number of days entered in the
“Auto Day Begin” Box for the
discount/markup to apply.
• When the “Auto Day Type” is set to “Less
Than”, a reservation has to be less than
the number of days entered in the “Auto
Day Begin” box.
AUTO DAY FIELDS (CONTINUED) • When the “Auto Day Type” is set to
“Greater Than”, a reservation has to be
greater than the number of days entered in
the “Auto Day Begin” Box and less than the
number of days entered in the “Auto Day
End” Box for the discount/markup to apply.
• When the “Auto Day Type” is set to “Not
Equal To”, a reservation has to not be equal
to the number of days entered in the “Auto
Day Begin” Box.
LEAD TIME
The values entered in these boxes determine how many days before
the check-in date a reservation has to be made in order for the
discount/markup to apply.
OCCUPANCY DATA
This section allows you to set occupancy guidelines to determine whether a new
reservation qualifies for the discount/markup. This is based on an individual property’s
occupancy percentage, which is calculated by the system based on the information you
enter in the “# of days BEFORE Check-In” box and “# of days AFTER Check-Out” box, as
well as the length of the reservation being created and any preexisting reservations. The
occupancy percentage amount calculated by the system is then compared to the amount
you enter in the “% Occupancy” box and what you selected from the drop down menu to
determine whether or not a reservation qualifies for the discount/markup.
OCCUPANCY DATA DROP-DOWN
• The discount/markup will
automatically apply when the
calculated occupancy percentage
value is either “Equal To”, “Less
Than”, or “Greater Than or Equal
To” the amount you enter in the “%
Occupancy” Box.
OCCUPANCY DATAThe occupancy percentage is calculated as:
[The number of days already reserved within the time frame you
set by entering the number of days in the before and after
check-in boxes] / {[number of days of new reservation] +
[number you entered in the “ # of days BEFORE Check-In” box]
+ [number you entered in the “ # of days AFTER Check-Out”
box]}
OCCUPANCY DATA - EXAMPLE
• You enter ‘30’ in the “# of days BEFORE Check-In” Box and the “# of days AFTER Check-Out”
Box. This tells the system you want to check for preexisting reservations 30 days before the
check-in date of the reservation the guest is making and 30 days after the check-out date of the
reservation the guest is making.
• You enter ‘25’ in the “% Occupancy” box and select “Less Than or Equal To” from the drop down.
This tells the system, you want the discount/markup to apply if the calculated occupancy
percentage is less than or equal to 25%. (In other words, if a property is only rented 25% or less
for the specified timeframe.)
OCCUPANCY DATA - EXAMPLE
• You have a guest making a reservation for April 7 – April 14.
• They system checks for reservations already booked from March 9 – April 7 (30 days before the
check-in date) and reservations already booked from April 14 – May 13 (30 days after the check-
out date). Currently, you have a reservation in the system for March 24 – March 31, and a
reservation for April 21 – 28.
OCCUPANCY DATA – EXAMPLE
All the Numbers:
• Number entered in the “# of days BEFORE Check-In” box: 30
• Number entered in the “# of days AFTER Check-Out” box : 30
• New reservation checks in on 4/7 and checks out on 4/14: 7 day reservation
• Preexisting reservation #1 for the same property from 3/24 to 3/31: 7 days
• Preexisting reservation #2 for the same property from 4/21 to 4/28: 7 days
• Total preexisting reservation days within time frame set by numbers you entered in
the “# of days BEFORE Check-In” box and “# of days AFTER Check-Out” box : 14
days
OCCUPANCY DATA - EXAMPLEThe system will calculate the occupancy percentage:
• Divide the sum of the total number of preexisting reservation days for the specific
property by the sum of number of days of new reservation, the number you entered
in the “# of days BEFORE Check-In” box, and the number you entered in the “# of
days AFTER Check-Out” box.
• 14 [total number of preexisting reservation days] / [7 (number of days of new
reservation)] + 30 (the number you entered in the “# of days BEFORE Check-In”
box) + 30 (the number you entered in the “# of days AFTER Check-Out” box)]
• 14 / (7 + 30 + 30) = 14 / 67 = .208 = 21% (This is the occupancy percentage when
using the dates of the new reservation.)
OCCUPANCY DATA - EXAMPLE
• Since you entered ‘25’ in the “% Occupancy” box and selected “Less Than or Equal To” from the
drop down, and the calculated occupancy percentage for a reservation being made from April 7 –
April 14 is 21%, the guest making the reservation would receive the discount/markup.
DAYS OF THE WEEK CRITERIA
• You can select which day(s) of the week a reservation has to
check-in or check-out on in order for the discount/markup to apply.
• You can also determine the minimum or maximum number of days
a reservation must be in order to receive the discount/markup.
NIGHTLY CONFIGURATION
If you want your discount/markup to be applied on a nightly basis
instead of just once, under “Nightly Configuration” you can select
which night(s) you want your discount/markup to apply. You can also
select the maximum number of times you wish the discount/markup
to be applied by entering a value in the “Max Nights” box.
NUMBER OF GUESTS
If you want your discount/markup to be applied to reservations that include more than
a specified number of guests, you can set that up here. When you check the “Apply
per Guest” box and select a value from the “Min Guests” drop down box, the
discount/markup will be applied for each person staying in the property above the
number selected from the drop down.
PROMOTIONAL CODE
If you want your discount/markup to only be available to specific
guests, consider setting up a promotional code. In order for your
guests to receive the discount/markup, they would have to enter the
Promotional Code on the Book It page on your website. Please note
this functionality only works with the new online search engine.
(Please contact HELP if you have questions about this.)
SELECT THE OFFICE
From the drop down menu, select the Office the property is in you
would like to apply the discount/markup to.
SELECT THE PROPERTY
• Check the box next to the
property/properties you would like
to apply the discount/markup to.
• Click the “ADD>>” button.
• This will move the
property/properties from the left
side of the screen to the right side
and will apply the
discount/markup.
ALLOWING DISCOUNTS AT THE PROPERTY LEVEL
• Even if you have applied the
discount/markup to the property, you have
to be sure the “Allow Discounts” box is
checked at the property level before the
discount/markup will actually be applied.
• Go to Properties -> Manage Properties.
ALLOWING DISCOUNTS AT THE PROPERTY LEVEL
• Select the office.
• Highlight the property.
• Click “Edit”.
SEEING THE DISCOUNT ONLINE
YOUR GUEST WILL SEE THE DISCOUNT ON THE “CALCULATE PRICE” PAGE AND ON THE “BOOK IT NOW!” PAGE
DISTRIBUTION CONFIGURATION• A new configuration drop down menu named “Base After Discounts” has been
added to the Office Configuration section of the Admin Console. This new
configuration menu will drive whether the discount amount applied to short term
reservations will be included or excluded when calculating the reservation
management fee. The options within the “Base After Discounts” drop down menu
are “Net” and “Gross”.
• To access the “Base After Discounts” menu, go to System Configuration ->
Company -> Offices tab -> select the Office -> click the “Edit” button.
“BASE AFTER DISCOUNTS” MENU
• When the “Net” option is selected, the management fee will calculate based on the rental
amount minus the discount amount.
• When the “Gross” option is selected, the management fee will calculate based on the
rental amount. The discount amount is disregarded when calculating the management
fee.
REMINDERS
When setting up a
discount/markup, you
only have to fill in the
information in the top
section, all other fields
are optional.
REMINDERS
Be sure to apply your discount to your property through the
“Discount” screen and at the Property Level.
CONTACT THE HELP DESK:
• Through the Quick Access Menu
• Through the Custom Portal
• Or through email at [email protected]