Room Rates Flashcards
- Price of the room
- Charged per night
- Approved by sales and marketing and given to front office as reference
Room Rates
- Is the standard rate or published tariff
- This is generally printed on the tariff sheet
-Used for government compliances
In the other word’s these rates are always without any sorts of discount
Rack Rates
are rates offered to companies that provide frequent business for the hotel or its chain
Corporate Rate
These are normally non-standard rates which is offered as special one-time rates for first-time corporate
ADHOC Rate Code
These are rates which is offered to groups, meetings and conventions using the hotel for their functions
Group Rate
How many rooms to considered a Group Rate
10 or more room
These rate are generally offered during low occupancy periods to any guest to promote occupancy
Promotional Rates
The rate offered to individuals who belong to an association or holders of special membership cards or credit cards
Incentive Rate Code
A rate reserved for families with children
Family Rate
This type of rates are only open X days before arrival
Early Bird Rate
These rate codes are the lowest discounted rate available for a day which can be offered to the guest by the Reservation or Front desk staff
Best Available Rate (BAR)
Rates that includes a guest room in combination with other available events or activities
Package Rate
2 Types of Bar
Dynamic Bar and Daily Bar
Has different tier and each tiers will be opened and closed according to the occupancy of the hotel
Dynamic Bar
has a pre-defined daily room rate regardless of room categories (run-of-the-house) and occupancy
Daily Bar
A room rate with zero room charge which is offered to special guest, industry leaders, gov, officials etc.
Complimentary Rate
A room rate with zero room charge which is used for rooms stay for hotel purpose
House us Rate
This kind of rates are used as system requirements for PMS’s
Zero Rate Code
What is PX Rooms?
is for rebate charges in guest like being charge for something they didn’t use
What is Pay Master?
for group and corporate account that is huge
What is Postmasters?
are usually use for those guests who use the facility while not being checked-in. So a separate bill is needed.
A special type of rate codes whose values are derived from another rate code or rate group. Eg: BAR 1 which is 10% off on the Rack Rate.
Virtual Rate/ Follow Rates
is a consumption tax placed on a product whenever values is added at each stage of the supply chain, from production to the point of sale
Value-Added Taxes
In the Philippines, How many percent is the tax?
12%
In the Philippines, How many percent is the service charge?
10%
is a fee collected to pay for service related to the primary product or service being purchased
Service Charge
no applicable taxes and service charges.
Gross rate
taxes and service charges are incorporated
Net rate
developed a method to calculate a hotel room rate based on the costs incurred in operating the hotel and a reasonable return on investment for the investors
Roy Hubbart
what the investors expect to be returned or profited from the venture
Return of investment (ROI)
are income deriving from outlet stores, F&B, or any department that is not rooms in nature.
Other income (OI)
(nonmanufacturing costs)
Selling expenses
- Salaries (Sales and employees)
- Advertising
- Entertainment and travel
General and administrative expenses
- Rent
- Depreciation
- Property taxes
- Legal expenses
Operating Expenses
