How to Create Negotiated Rates
Learning Objectives
At the end of this article you will know…
- Where to enter the negotiated rates for your accounts
- How they will appear on your standard negotiated rate contracts
- Where your negotiated rates appear on your accounts
Overview
Hotels that offer annual corporate or wholesale contracts to their customers need to track their negotiated rates, and other terms and conditions, so they can generate a contract.
During your system configuration, your leadership may have asked Thynk’s project team to create a wholesale and/or corporate contract pulling the fields from Thynk. If this contract wasn’t set up, but you see the need for this, please ask your Director if your Admin can create a standard negotiated rate contract for the team to use.
In addition, it’s important for the sales manager to see what negotiated rate production is coming from their PMS so they can compare actuals to their goals. Analyzing actual room night and revenue production helps the sales team in goal setting for the following year when it is time to renegotiate contracts.
For specific instructions, please refer to the lesson: https://learn.thynk.cloud/courses/take/accounts-contacts-negotiatedrates/texts/51060887-how-do-i-create-negotiated-rates-for-my-accounts-and-how-do-i-find-them
in Thynk University! 👩🏻🎓
Make sure that you have signed into the University from Thynk before clicking on the lesson link.
For specific instructions, please refer to the lesson: https://learn.thynk.cloud/courses/take/accounts-contacts-negotiatedrates/texts/51060887-how-do-i-create-negotiated-rates-for-my-accounts-and-how-do-i-find-them
in Thynk University! 👩🏻🎓
Make sure that you have signed into the University from Thynk before clicking on the lesson link.
Best Practices
- During your system setup and configuration, your leadership may have asked Thynk to create a wholesale or corporate contract pulling the fields from Thynk.
- If this contract wasn’t set up, but you see the need for this, please ask your Director if your Admin can create a standard negotiated rate contract for the team to use.
- Negotiated rate contracts can also pull low/high season dates, and blackout dates. You’ll need the help of the Admin to create these rate periods. Find the lesson here.
Resources
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