Support: 1-469-617-5446
Reset Search
 

 

Article

Property Rates

« Go Back

Information

 
Content

Location: App – Properties – Revenue Management – Properties – (Specific Property)

Setup – Properties – Revenue Management – Properties – (Specific Property)

Required Setup: In order to access this page, your company must subscribe to Kigo Revenue Management in the App Store. Additionally, you must be assigned the General Manager role, or a custom role that includes General Manager permissions.

About the Property Rates Page

The Property Rates page provides you with statistical information about a single property. At the top of the page, the property name is displayed. Under the property name is the External Key (the ID used by Kigo), the Property Group that the property is assigned to and the rate Map that the property uses. This page has two viewing modes:

  • Basic Mode: This view contains some statistical information and a graphical calendar which displays future availability in an easy-to-read format. The calendar shows the current base rate for the property, as well as the adjusted rate based on the rate map calculations.
  • Advanced Mode: This view contains additional statistical information, as well as a detailed availability table for future availability.

Some common procedures that can be performed here include:

  • Switching Between Basic and Advanced Modes
  • Editing the Property
  • Modifying Base Rates
  • Copying Rates
  • Updating Availability
  • Pushing Rates
  • Changing the Rate Floor

Field Descriptions (Basic Mode)

  • Unit/Days Above Base Rate: This is the number of units and days that a property was booked above the base rate.
  • Average Rate Increase: This percentage is the average rate increase for bookings over the base rate.
  • (Rate Adjustment Pie Chart:) This chart shows a breakdown of how much the rates were modified from the base rate. Orange hues indicate a negative modification, meaning that the booking was created at a lower price than the base rate, while green hues indicate that the booking was creating at a higher price than the base rate. Gray components on the charge indicate that the bookings were created at the base rate.Hover over the chart to gain additional information.
  • (Graph): This graph shows the Base Rate (in green), the Adjusted Rate (in black), and the Rate Floor (in red) for the associated property group. To gain more information, hover over any data point in the graph to see additional information about the data point.

Calendar

In this section, future availability is displayed in a calendar format. Each day of the calendar contain the following information: the date, the adjusted rate, and the original rate. You can hover over any calendar enter to view more information, including the property group occupancy rate, and the number of days left to book. The background color of the calendar day provides an at-a-glance indicator. Orange hues indicate a negative modification, meaning that the adjusted price is a lower price than the base rate, while green hues indicate that the adjusted price is a higher price than the base rate. The strength of the color also indicates how much the rate is changed from the base rate. For example, a light green background signifies a moderate increase, while a darker green background indicates a larger increase in price over the base rate. A white background indicates that the adjusted price is the same as the base rate, and a gray background indicates that property is not available for the selected date. Each calendar square shows the date in the upper-right corner, the adjusted rate in the center, and the base rate (in strikethrough text) at the bottom of the square.

Calendar color descriptions

Field Descriptions (Advanced Mode)

Rates

The Rates section includes statistical information about the rates for the selected property.

  • Unit/Days Above Base Rate: This is the number of units and days that a property was booked above the base rate.
  • Average Rate Increase: This percentage is the average rate increase for bookings over the base rate.
  • (Rate Adjustment Pie Chart:) This chart shows a breakdown of how much the rates were modified from the base rate. Orange hues indicate a negative modification, meaning that the booking was created at a lower price than the base rate, while green hues indicate that the booking was creating at a higher price than the base rate. Gray components on the charge indicate that the bookings were created at the base rate.Hover over the chart to gain additional information.
  • (Graph): This graph shows the Base Rate (in green), the Adjusted Rate (in black), and the Rate Floor (in red) for the associated property group. To gain more information, hover over any data point in the graph to see additional information about the data point.

Occupancy

The Occupancy section includes statistical information about the occupancy rates.

  • Next 30 Days Occupancy: This is the average occupancy percentage for the selected property group for the next 30 days. The higher the percentage, the greater the number of bookings for the property. 100% indicates that the property is completely booked for the time period.
  • Last 30 Days: This is the average occupancy percentage for the previous 30 days. The higher the percentage, the greater the number of bookings for the property. 100% indicates that the property is completely booked for the time period.
  • Following 30 Days: This is the average occupancy percentage for 31-60 days out. The higher the percentage, the greater the number of bookings for the property. 100% indicates that the property is completely booked for the time period.
  • Occupancy Percentage Bar Chart: This shows the occupancy percentages by week for the selected property. Hover over portions of the chart for additional information.

By Month

  • Last Mo.: This is the average occupancy percentage for the selected property for the previous calendar month.
  • Current: This is the average occupancy percentage for the selected property for the current calendar month.
  • Next Mo.: This is the average occupancy percentage for the selected property for the next calendar month.

Detailed List (By Date)

  • Reservation Info
    • Date: This is the day and date that the booking reservation is due to check-in.
    • LOS: This is the length of stay, or the number of nights that the guest will be staying.
  • Rates
    • Base: This is the base rate, as set in Kigo Revenue Manager
    • Adjusted: This column contains three pieces of information: an up or down arrow, indicating the direction of the pricing adjustment, the percentage that the pricing has changed from the base rate, and the adjusted price.
    • Publish: This is the price that will be published to Kigo, Kigo websites, and third-party booking channels
  • Unit
    • Occupied: If the property is occupied, then this column displays Yes. Otherwise, if the property is not occupied, then this column displays No.
  • Group Inventory: This section contains combined information for all of the properties in the property group.
    • Occupancy: This is the overall occupancy percentage for the property group.
    • Total Units: This is the total number of units (or properties) in the property group.
    • Available Units: This is the total number of available units in the property group.
  • PMS Interaction: The items in this section detail interaction with Kigo.
    • Published Rate: This is the rate that is currently published.
    • Received Rate: This is the rate was received from Kigo.
    • More: Click the More link to view transaction details for the selected property and date.

Switching Between Basic and Advanced Modes

  1. From the Property Rates page, click Advanced Mode to see detailed statistical information about this property.
  2. If you want to switch to Basic Mode, click Basic Mode.

Editing the Property

  1. From the Property Rates page, click Edit.
  2. On the Property Profile page, you can update any of the following:
    • Property Title: This is the name of the property. This name is automatically synchronized to the Public Headline of the property in Kigo whenever you push rates.
    • Property Nickname: This is the nickname for the property. If a property has a nickname, the nickname is used instead of the Property Title throughout Kigo Revenue Management.
    • Rate Floor: This sets a hard limit to the adjusted price of the property. If you enter an amount here, Kigo Revenue Management will never adjust the price of the property lower than the amount that you enter here.
    • Group: This is the name of the assigned property group. To change this, select a new property group from this drop-down list.
    • Status: If you want the status of the property to be enabled, select this check box. If you do not want for this property to be enabled, clear this check box.
  3. To save your changes, click Save. Otherwise, click Cancel.

Modifying Base Rates

This changes the base rate for a property in Kigo Revenue Management. This rate may still be modified and changed based on the information in the applicable rate map.

  1. From the Property Rates page, click Edit Base Rates.
  2. Choose the Start date. This is the first day that the new rate will take effect.
  3. Choose the End date. This is the last day that the new rate will take effect.
  4. At the New Rate field, enter the new base rate for the property.
  5. Choose the Days of Week that the new base rate should be applied.
  6. Click Save to save your changes and update the base rate for the selected property. Alternately, click Cancel to discard your changes.

Copying Rates

  1. From the Property Rates page, click Copy Rates. The Copy Property Rates page opens.
  2. Enter the Start date. This is the first day that the rates will be copied.
  3. Enter the End date. This is the last day that the rates will be copied. If you do not include an end date, the rates will be copied as far as the rates exist.
  4. Enter the Percentage Adjustment. By default, this is set to 100 percent, which means that the rates will copied without changing the value. You can also choose to make adjustment. For example, if you entered 90 here, then the copied rate would be adjusted to 90% of the original value. If you entered 115 here, then the copied rate would be adjusted to 115% of the original value.
  5. All other properties are displayed on the list. If needed, you can filter this list by group and/or rate map by selecting the appropriate options from the drop-down list(s), and then clicking Filter.
  6. To choose a property to copy rates to, select the check box associated with the property. You can choose to copy rates to multiple properties at one time.
  7. Click Copy to Selected. A confirmation message displays. Click OK to continue with the copying process, or click Cancel to discard your changes without performing the rate copying procedure.

Updating Availability

Use this procedure to receive the latest availability figures from Kigo. This is performed automatically for all properties daily, but you can also choose to perform this task manually, if you want to see the most current availability information.

  1. From the Property Rates page, choose Edit.
  2. Select Update Availability. The current availability information is received from Kigo for this property, and the Property Rates page is updated accordingly.

Pushing Rates

Use this procedure to push the rates from Kigo Revenue Management to Kigo, Kigo websites, and third-party booking channels. This procedure is performed automatically for all properties daily, but you can also choose to perform this task manually.

  1. From the Property Rates page, choose Edit.
  2. Select Push Rates.
  3. A confirmation message displays, stating this process may take several minutes.
  4. Click OK. The rates will be sent to Kigo and processed, which then updates any Kigo websites and third-party booking channels.

Changing the Rate Floor

A rate floor is the minimum amount that you wish to book a property for. If you specify a rate floor for a property, Kigo Revenue Management will not automatically adjust the pricing lower than the specified rate floor amount.

  1. From the Property Rates page, choose Edit.
  2. Enter the lowest amount that you wish to book this property for in the Rate Floor field.
  3. Click Save to save your changes, or click Cancel to discard your changes.
Attachment 

Feedback

 

Was this article helpful?


   

Feedback

Please tell us how we can make this article more useful.

Characters Remaining: 255