What are multiple rate plans in a hotel channel manager?
Multiple rate plans are different pricing strategies that a hotel chain can offer for their rooms on various distribution channels. For example, a hotel chain might offer a non-refundable rate plan, a flexible rate plan, or a corporate rate plan. Each rate plan can have different prices, restrictions, and benefits, depending on the target customer segment or the channel. For instance, a hotel chain may offer a discounted rate plan for guests who book directly through their website, and a higher rate plan for guests who book through OTAs. With a hotel channel manager, a hotel chain can easily create and manage multiple rate plans across all channels, and adjust them in real-time based on market demand, competitor prices, or other factors. This helps to increase revenue, optimize occupancy, and attract different types of customers to the hotel chain.