October 2024 Product Updates

October 2024 Product Updates

Below you will find a brief, high-level description of enhancements and new features included in the latest product updates.
We listen to your feedback and you may see something you requested below. Give us more feedback about your experience with Thynk here!

Warning
Please be aware in any release, new fields will not yet be configured to your documents. If you would like to include any new fields in your custom documentation, reach out to our support team for guidance.

October 15th (1.121) 

Thynk Analytics

Updated GRC Dashboard

We’re excited to announce several enhancements to the GRC Dashboard in this release, providing you with greater visibility over your bookings. Here are the new features you can start using:
  1. Details Option: A new "Details" button in the Booking Tab now unlocks additional fields to manage bookings with precision. You’ll now have access to relevant dates such as creation date, follow-up date, and cutoff date, along with the booking owner.
  2. Internal Notes: Easily access internal notes extracted directly from the note section on the booking page.
  3. Business Segment: Quickly identify the business segment associated with each booking.


Thynk Hospitality Cloud

NEW FEATURE: Average Checks (Forecasting on Non-Guest Room Revenue)

We’re excited to share that Sales Managers can now Forecast Revenue on Booking Events. 

How does it work? 

As an admin you would define an average check amount per revenue category based on the function type for each Property. Forecasted amounts are then automatically set at the Booking Event level. These can be modified by your teams by changing the average check amount. They would then mark events as ‘Detailed’ to ensure the forecast pulls actual revenue vs their forecasted revenue. Read more about Average Check feature here 

If you’re interested in setting up this feature, please reach out to our support team here


NEW FEATURE: Conversion probability on a booking

To enhance forecasting capabilities, Sales Managers can now set the probability of converting a booking.


How does it work? 

For each property, you can define a default conversion probability for every booking stage. As bookings move through stages, the system will automatically apply these default values. However, Sales Managers have the option to manually override these probabilities. For example, if a booking in the "Tentative" stage has a default conversion probability of 50%, but you know it’s more likely to convert (e.g., 90%), you can update the probability accordingly.


Note: Previous bookings will not have default conversion values, but you can still add them manually if needed.


If you’re interested in setting up this feature, please reach out to our support team here





This feature is exclusively available for certain Opera integrations. If you use a different PMS and you are interested in this feature, let us know in our Thynk Community!

We're excited to introduce a new feature that simplifies linking Negotiated Rates and Default Corporate Rates (Rate Plans) to Accounts in your PMS. Previously, after securing a Negotiated Rate with an Account, you had to manually link the Rate Plan to the Account for the agreed date range in your PMS. 

Now, Thynk supports automatically linking these Rate Plans directly to your PMS.

Both the Multi-Property and individual Negotiated Rate levels in Thynk now have a 'Link Rates' button to easily sync contract dates and rate plans to an Account within your PMS. Read more about this new feature here 

Key Benefits:
  • ⏳ Time Savings: Automates Rate Plan linking to your PMS.

  • 🔄 Fewer Errors: Reduces manual data entry mistakes.

  • 🏨 Multi-Property Simplicity: Manage rates for multiple properties seamlessly.



Inquiry Level - Convert into Bookings flow improvements

We're excited to share some updates to the "Inquiries to Bookings" feature based on your valuable feedback!

What's changed?

  1. When the ‘Convert’ button is clicked
    Previously, you would by default be brought to the ‘Find Ideal Properties’ page however we understand that this wasn’t used as much as the screen that immediately shows you the available properties, causing your team to have to do extra clicks.



  2. Now, the default page when you click ‘Convert’ will be the full list of properties available.


  3. Field name changes
    "Start Date" is now "Arrival Date"
    "End Date" is now "Departure Date"

Booking Level - Change Dates Enhancement

We're excited to announce that we now support updating room rates when your team uses our Change Dates button on a Booking. Originally this was only available when Cloning the Booking.

Here’s how it works: 

When you click the button ‘Change Dates’ Sales Managers have the option to select a checkbox called ‘Update Room Rates’. 

  • If selected we will update the rate prices accordingly

  • If unselected we will keep the rates at the original price.



Product Level - Unit Type filed

We understand the challenges our customers face with manual updates to Documentation to explain what 1 unit of a Booking Product actually entails. To simplify this process, we’ve introduced a new pick-list field allowing you to define the desired unit type for any Product.

Here’s how it works: When a Product with a specified Unit Type is added to a Booking Product, the Unit Type is automatically populated on save.


As a standard we have the values Dozen and Hours. Please reach out to our support team to add any more values if desired or if you would like support to update any documentation to use this new valuable field.

Booking Product Level - Total Quantity field

We’ve listened to your feedback and are excited to introduce a combined quantity field for Booking Products, now available on your Banquet Event Orders (BEOs).

Previously, there were two separate fields: the Quantity field for "Per Unit" pricing and the Agreed Guest field for "Per Guest" pricing. This update combines them into a single, more efficient field.


Now, a hidden field automatically calculates the quantity based on your pricing type:


For "Per Guest" pricing, the field multiplies the agreed number of guests by the quantity.

For "Per Unit" pricing, the field reflects the Quantity value.

If you’re interested in adding this new field for your documentation, please reach out to our support team here



Multi- Edit Feature - Updates on Events and Booking Products

We've heard your feedback and are excited to share that we have improved our multi-edit feature on Booking Events and Booking Products.
New fields added:

  • Actual Guest (for Booking Product only)

  • Pricing Type (for Booking Product only)

  • Complimentary

  • Optional


New behavior: A request we had was for Sales Managers to be able to use the Multi-Edit feature to only update the times without updating the dates. Previously if you tried to update the time field, the date field would automatically populate. This has now been enhanced to support time-only changes .





Rate Level - Is Active & Hide on Bookings Fields

Previously admins would use the ‘Is active’ field however this field is controlled by your Property Management System (PMS). So changes made by the admin would be overridden by your PMS.

Here’s how it works:


This flow ensures that you have more precise control over the visibility of rates in Thynk, while maintaining the necessary synchronization with your PMS.

  • The 'Is active' field is non-editable in Thynk, the value is populated from what is setup in your PMS.

  • When 'Is active' is:

    • Checked, an additional field called 'Hide on Bookings' will become visible and can be managed by an admin only. Admins can use this field to control if a rate should be visible or not on bookings.

    • Unchecked, 'Hide on Bookings' will not be visible. Since here your PMS is telling Thynk this is an Inactive rate, we will not have this available on Bookings.


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