What Are the Components of a Rate Plan?

A rate plan is composed of the following elements:

•A collection of attributes that define the rate plan

•A list of products, room types and services sold under the rate plan

•Rates that apply to the products

•Stay restrictions that apply to reservations made through the rate plan

•Related sales conditions (policies, booking restrictions and promotions)

•Tier model discounts applying to the room rates

•Business rules that apply to the rate plan:

-Channel management

-Commissions