Configuration Tab Miscellaneous

The Miscellaneous Tab configuration allows users to set the Reservation Rejection Ratio estimates for a specific property and to configure existing Daily Rates to be applied using ORMS hurdle calculations.

• Reservation Ratios are important to the modeling of the business forecast and are necessary for accurate forecasting calculations.
• ORMS will dynamically calculate a price for the Opera Daily Rate Code while using the configured hurdle functionality.

Reservation Rejection Ratio

You will enter the estimated Reservation Rejection amounts along with the occupancy percentage.

Occupancy %. Type in the percentage of occupancy for the property.

Est. Rejection. Resv. Type in the estimated reservation rejection based on the occupancy % for the property.

Button Functions

Apply. Select to apply any changes that have been made to the revenue management system.

Reset. Resets all of the fields to their default values.

Daily Rate Setup

Existing Opera Daily Rates can be configured to be driven by ORMS calculations that include the system-generated hurdle amount. The Daily Rate amount for the Daily Rate Code is calculated for each date and room type. The system takes the LOS 0 for the Room Type and Day from the hurdle rate to reach the Daily Rate 'level.'

Note: Only one Daily Rate Code can be ORMS-driven. If multiple Daily Rates exist in Opera, these will need to be configured manually for Opera, or else be configured as the rate based on the ORMS Daily Rate.

Note: Daily Rates will only be updated in Opera if a valid Hurdle Schedule is configured.

• ORMS adds the configured add-on amounts for each room type in the yield category to the hurdle rate to produce the Daily Rate 'level.' These add-on amounts are configured in the Upsell section of the Yield Category tab (ORMS>Configuration Tab>Yield Category). Please note that Upsell functionality itself is not required for ORMS Daily Rates. If Upsell is enabled in Opera, the same room type add-on amounts will apply to both Daily Rates and Upsell functionality.
• ORMS can use Initial Round Ups and Increments configuration to round or add to the Daily Rate 'level' for the Daily Rate Code. These values are set up in Configuration>Reservations>Room Classifications>Room Types). If Prevailing Rates is also enabled in Opera along with Daily Rates, the Initial Round Ups and Increments must be the same values.
• A schedule can also be set up for the Daily Rates hurdle calculation updates. See ORMS>Configuration Tab>Hurdle Schedule.

Prerequisites

• Application Function>Rates>Daily Rates set to Y for the property.
• Create a Daily Rate at the Rate Header by accessing Configuration>Rate Management>Rate Classifications>Rate Codes.
• Select the Daily Rate check box on the Rate Header for this Daily Rate. (Please note that the ORMS Daily Rates configuration provides the daily rate details, therefore no further configuration is necessary on the Rate Detail>Daily Rate Entry screen.)
• Set up the room types for Daily Rates (Configuration>Reservations>Room Classifications>Room Types). If you want the features of Initial Round Up and Increments to affect ORMS Daily Rates at your property, you may enter them at this screen, or enter them in ORMS on the Miscellaneous Tab. (The ORMS values will override the existing Opera values.)

  Note: Only Yieldable room types (those assigned a Yield Category in ORMS>Configuration Tab>Yield Category can be used for ORMS Daily Rates as these room types contain hurdle rates. Daily rate amounts for Non-yieldable room types (those not assigned a Yield Category nor configured with hurdles) cannot be set up for ORMS Daily Rates.

• Ensure that the ORMS Daily Rate Room Types are assigned a Yield Category and Hurdle Steps in ORMS>Configuration Tab>Yield Category.
• For ORMS Daily Rates, define the add-on amounts for each room type, differentiating the price differences between room types for the yield category. This is done on the Upsell Configuration section of the ORMS>Configuration Tab>Yield Category screen.

Selection Criteria

Select the Flashlight Search icon to open the Search Rate Codes screen.

Search. Select this button to search for existing Daily Rates rate codes.

Select. Select the radio button for the Daily Rate Code you want applied for ORMS Daily Rates and then click the Select button.

Grid

For each room type, you may enter values for an Extra Adult, Extra Child, Initial Round Up, and Increments for the Daily Rate. The values entered here will override any existing values already configured in Opera. You will see all Daily Rates calculated by ORMS on the Daily Rates screen in Opera.

Extra Adult. Specify an extra adult charge to be added to the daily rate for reservations having more than two adults. This extra charge will be applied during the booking.

Extra Child. Specify an extra child charge to be added to the daily rate for reservations having a child accompanied by an adult. This extra charge will be applied to the rate during the booking.

Note: Currently, Child Buckets in ORMS Daily Rates are not available.

Initial Roundup. Enter a number which is greater than 0.00, but not more than 50.00. The digits of the initial round up value replace the last two whole numbers and any decimals of the daily rate. For example, if the calculated rate is 104.25 and the initial round up is 4.95, the calculated rate becomes 104.95 after the initial round up is applied. (If the calculated rate were 114.25 and the initial round up is 4.95, the calculated rate would also become 104.95.) If a number already exists in this field, it was created at Room Types configuration. The value entered here will override the previous value for ORMS Daily Rates.

Increment - A whole number (no decimals — for example, 5, 6, 10, 23 ) which must be greater than or equal to the initial round up amount. The sum of the increment and the initial round up cannot be greater than 100 (e.g., if the initial round up is 39.95, then the increment could not be greater than 60). The increment is added to the calculated rate after the initial round up is applied if the calculated rate amount is less than the level. The increment can be added multiple times, if necessary, to make the calculated rate equal to, or greater than, the Daily Rate 'level.') If a number already exists in this field, it was created at Room Types configuration. The value entered here will override the previous value for ORMS Daily Rates.

• If no amounts have been entered in neither the Initial Round Up or Increment, the 'Initial Round Up' will be considered as a value 1 and the 'Increment' as a value 0.

  Note: If desired, you may set up a hurdle schedule for the Daily Rate (ORMS>Configuration Tab>Hurdle Schedule).

Daily Rate Example

The Hurdle is Set at 601.00 for a given Date, Yield Category, and LOS.
Roomtype A: Upsell = 0	Initial Roundup = 4.95	Increment = 10.00
Roomtype B: Upsell = 165	Initial Roundup = 4.95	Increment = 50.00

Calculation for Roomtype A:

• 601.00 + 0 = 601.00 = New Daily Rate 'Level'
• Taking the initial roundup into consideration, the 601.00 become 604.95
• This is greater than the 'Level' and therefore the Daily Rate for Roomtype A will be set to 604.95 for the given date

Calculation for Roomtype B:

• 601.00 + 165 = 766.00 = New Daily Rate 'Level'
• Taking the initial roundup into consideration, the 766.00 become 704.95
• 704.95 is less than 766.00, and therefore the system adds the 50.00 increment to obtain 754.95
• 754.95 is still less than 766.00, and therefore the system adds another 50.00 increment to obtain 804.95
• This is greater than the 'Level' and therefore the Daily Rate for Roomtype B will be set to 804.95 for the given date

See Also

About ORMS
About the ORMS Optimizer	Configuration Tab Seasons	How Opera is Affected by ORMS
Configuration Tab Alerts and Rules	Configuration Tab Verification	Opera Preliminary Setup for ORMS
Configuration Tab Forecast Groups	Configuration Tab Yield Category	ORMS Preliminary Setup
Configuration Tab Booking Class	Configuration Tab Yieldability	Rate Shopper Tab
Configuration Tab Events	Forecast Analysis Tab	Recommendation Tab
Configuration Tab Groups	Groups Tab	Reports Tab
Configuration Tab Hurdle Schedule	Home Tab	Welcome to ORMS