Corporate Business Segments

Corporate Business Segments

Learning Objectives
This article will teach you...
  1. The difference between 'Business Segment' and 'Corporate 'Business Segment'
  2. The purpose of 'Corporate 'Business Segment'
  3. How to create a 'Corporate 'Business Segment’ and a property-level 'Business Segment'
  4. How to link the two together

What is a Business Segment?

In the hospitality industry, business segments refer to distinct categories or groups of guests. These segments help tailor hotels / venues on their offerings, marketing strategies, and services to meet the specific needs of different types of guests.

'Business Segment' vs 'Corporate Business Segment' in Thynk

‘Corporate Business Segment’ addresses situations where a central sales team might have different terms and conditions for Business Segments compared to those used at your property. This feature allows their ‘Corporate Business Segment’ to be linked with your property’s ‘Business Segment’.

When an Inquiry is converted to bookings at specific properties, the ‘Corporate Business Segment’ assigned to the inquiry will be mapped to the appropriate Business Segment at each property.

An example, a New Inquiry is generated with the Business Segment ‘Transient’. Once converted to your property the business segment displays ‘Individual travelers’.

However if your property hasn’t linked your Business Segment to the Corporate Business segment, once the inquiry is converted to your property the business segment would be blank.


How to Create 'Corporate Business Segments’

As an Admin if you only have one property and are using inquiries, you would create a 1:1 mapping. However if you have a Central Sales team, your initial step is to identify your ‘Corporate Business Segment’ terms with your manager / director. The standard list ‘Transient, Corporate Negotiated, Group, Wholesale, and Other.’ However, customization is possible by adding or removing values. To do this follow the steps below

  1. On ‘Setup’ click on ‘Object Manager’
    Click on Object Manager
  2. Type "Business Segment” & select it. You will be brought to a new page.
  3. Click on “Fields & Relationships”
  4. Click on “Corporate Business Segment Code”
  5. Click on ‘View Corporate Business Segment Code Value Set’
    Click on Corporate Business Segment Code
  6. Here you can create, edit and deactivate Corporate Business Segments following the ‘action’ commands, edit, delete, deactivate.
    Click on sharedPicklistDefinitionPage

The next step is to create your property’s ‘business segment and link it to the ‘Corporate Business Segment’, created by your Corporate Admin. As an Admin on property, your manager / director will need to give you a list of your Property’s Business Segments. Identify which property business segments need to be linked to the respective Corporate Business Segment.

By following these steps below, you can successfully create your Property's Business Segments and link it to the relevant Corporate Business Segments.
  1. Click on App Launcher
  2. Type & click ‘Business Segments’ 
  3. Click on ‘New’
    Click on New
  4. Type your property’s Business Segment Name
  5. Select your Property
  6. Click on Corporate Business Segment Code which you would like to link this to
  7. Click on Save

Each Corporate Business Segment can only be linked to one Business Segment per property. If you try to add more than one you will see the following error:

Best Practices for Corporate Business Segment

  1. Start by checking with your Director of Sales, on the standard business segments at your property.
  2. If you are part of a Central Sales Team, ensure you have the Corporate Business Segments are built accordingly.

Resources


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