1. Where to enter the negotiated rates for your accounts
2. How they will appear on your standard negotiated rate contracts
3. Where your negotiated rates appear on your accounts
   

Overview

Story

Helen, the sales manager at Wonder Hotels, has received three requests for negotiated rates:

1. Dior (Donna): Requests a custom rate for a specific 5-star hotel in Madrid. An exclusive, tailored rate unique to Dior’s needs.
   
2. Peugeot (Paolo): Requests a dynamic rate for all 5 properties in Italy. A dynamic rate adjusts based on demand and availability.
3. Lacoste (Laura): Requests a static (fixed) rate for all 3 properties in Paris. A static rate remains constant regardless of demand fluctuations.
   

Helen identifies what type of Negotiated Rate records she must create

1. Dior (Donna): Since this is for only 1 property Helen can create this directly as 1 Negotiated Rate record
   
2. Peugeot (Paolo): Since this is for 5 properties Helen will create a Multi-Property Negotiated Rate record
3. Lacoste (Laura): Since this is for 3 properties Helen will create a Multi-Property Negotiated Rate record

Helen creates a single Negotiated Rate with a Custom Rate Type

1. In the App Launcher search 'Negotiated Rates' and click into the tab
   
   
   
2. Click 'New' which will open a pop-up where Helen can fill in all the relevant details, and 'Save'.
   
   
3. Once saved, this negotiated rate shows more details. Helen moves the status to 'In-Progress' and continues to add / update details.
   
1. Since this is a Custom Rate she will make sure to select 'Custom Rate' in the 'Rate Type' field. 
   

1. Now that all details are filled out, Helen moves the status to 'Submitted for Approval' as at her property her revenue manager must agree to the Custom Rate provided.
   
2. When her revenue manager approves the rate, Helen has her documentation ready and can send the offer to the client. She moves the status to 'Offer Sent'. 
   
3. A few days later Donna responds to the offer, she agrees to the custom rate, she signs the contract. Helen moves the status to 'Closed-Won'.
   

Peugeot (Paolo) use case steps:

1. In the App Launcher search 'Multi-Property Negotiated Rates' and click into the tab
   
   
   
2. Click 'New' which will open a pop-up where Helen can fill in all relevant details (See screenshot what was filled out).
   
1. She selects all properties that Paolo was interested in
   
   
   
3. Once saved, the record shows more details. Helen continues to add / update details.
   
1. Since this is a Dynamic Rate Helen will select Dynamic Rate in the Rate Type field.  

Depending on your org's setup at a specific stage, Thynk will automatically create all Negotiated Rates (each property selected earlier will automatically create a Negotiated Rate). In Helen's case, her org has this stage as 'In-Progress'. 

1. She ensure all information is filled out then moves the status to 'In-Progress' now all related Negotiated Rates (each property has it's own record) are auto-created.
   
1. Helen can see all details she added on the Multi-Property Negotiated rate is populated on the Negotiated Rates. She can then go into each Negotiated Rate record to make further adjustments if property specific ones are needed.
   

Depending how your org is setup you can also have a relationship between the statuses of a Multi-Property Negotiated rate and Negotiated Rate. For instance, my status is moved to Submitted for Approval on my Multi-Property Negotiated rate, then my related Negotiated rates will also move to Submitted for Approval. 

1. Now that all details are filled out, Helen moves the status to 'Submitted for Approval' as at her property her revenue manager must review the % off BAR Rate provided.
   
2. When her revenue manager approves the rate, Helen has her documentation ready and sends the offer to the client. She moves the status to 'Offer Sent'. 
   
3. A few days later Paolo responds to the offer, he agrees to the dynamic rate, he signs the contract. Helen moves the status to Closed-Won.

Helen creates a Multi-Property Negotiated Rate with a Static Rate Type

Lacoste (Laura) use case steps:

1. In the App Launcher search 'Multi-Property Negotiated Rates' and click into the tab
   
2. Click 'New' which will open a pop-up where Helen can fill in all relevant details (See screenshot what was filled out)
   
1. She selects all properties that Laura was interested in
3. Once saved, the record shows more details. Helen continues to add / update details.
   
1. Since this is a Static Rate she will select 'Static Rate' in the Rate Type field, and add the existing rate plan of LAC-PARIS

Depending on your org's setup at a specific stage, our system will automatically create all related Negotiated Rates (each property selected earlier will automatically create a Negotiated Rate). In Helen's case, her org has this stage as 'In-Progress'. 

Because Helen has added a Rate Code on the Multi-Property Negotiated Rate 'LAC-PARIS' when her Negotiated Rates are auto-created, the system will search at each property selected the same Rate Plan. She will be notified if all were found, if one or more were not found, or if one or more had duplicates.

1. She completes all information and moves the status to 'In-Progress'.  Now all related Negotiated Rates (each property has it's own record) is auto-created.
   
1. Helen can see all details she added on the Multi-Property Negotiated rate is populated on the Negotiated Rates. She can then go into each Negotiated Rate to make further adjustments if property specific ones are needed.

Depending how your org is setup you can also have a relationship between the statuses of a Multi-Property Negotiated rate and Negotiated Rate. For instance, my status is moved to Submitted for Approval on my Multi-Property Negotiated rate, then my related Negotiated rates will also move to Submitted for Approval. 

1. Now that all details are filled out, Helen moves the status to 'Submitted for Approval' as at her property her revenue manager must review the % off BAR Rate provided.
   
2. Her revenue manager approves the rate, Helen has her documentation ready and sends the offer to the client. She moves the status to 'Offer Sent'. 
   
3. A few days later Paolo responds to the offer, he agrees to the dynamic rate, he signs the contract. Helen moves the status to Closed-Won.

Best Practices

1. During your system setup and configuration, your leadership may have asked Thynk to create a wholesale or corporate contract pulling the fields from Thynk.
2. 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.
3. 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

1. Overview on Rate Periods
   

2. Features available with Negotiated Rates