Derived rates are powerful tools that save time by allowing you to dynamically adjust multiple rates all at once. It gives you an advantage especially in a competitive marketplace to respond quickly to events or changes in demand.
Advantages of derived rates in Preno
Increased efficiency - All your rates are clearly displayed on the rates page
Reduced pricing errors - All changes are tracked under 'Rates History'
Flexibility - Our derived rates have four adjustment options where you can increase or decrease by amount or %
The way it works is to set a base rate, then use that rate as a foundation on which other rates are automatically calculated.
E.g. If you have a standard rate of $200/night you can create a walk in rate that's derived by 'decreasing the amount' of the standard rate by $30 resulting in $170/night.
Another example is when you want to run a 10% discount offer, this price can be derived from your base rate and applied to all relevant OTAs through the channel manager.
How to set up a derived rate
Go to the Rates tab in Preno
Make sure a standard/rack rate is set up against the room type
Click 'Configure rate'
Select 'Add another rate'
A window will pop up, click on 'Derived'
Select the 'Room type'
Input a name in the 'Rate name' field
Select the standard rate from the 'Derive from rate' drop down
Choose the adjustment type and input value
The minimum nights can be copied from the base rate by selecting 'inherit from base rate' otherwise you can set a different minimum night
Click on 'Submit' to save changes
Note: Minimum nights and stop sell can be sent from Preno to Siteminder but cannot be sent to Staah.
Overwriting derived rate values
Once a derived rate is created you can edit it and set a custom value for certain dates. The custom value can be easily removed by resetting it.
Note: If you change the standard rate it will not overwrite the custom value
E.g. The walk in rate is $170/night (derived by decreasing the standard rate by $30), if there is a long weekend coming up I can set it at $40/night without affecting the other days.
How to overwrite derived rate values
Click on the derived rate you want adjust
Click on 'Advanced edit' and select 'Edit rate amount ($)'
Set the Date Range and choose the days for the rate to be applied
Input the custom value in the Rate($) field
Click 'Submit' to save changes
If you'd like to undo the custom value on a particular date, simply click on 'Reset' underneath it so it reverts to the general derived rate value
Note: Important things to remember
If you need to add a rate or delete a connected rate please contact the team via the in app chat
If you want to change the derived rule you'll need to delete the rate then add a new one. Please contact the team for assistance