A Rate Plan allows you to sell the same room under different prices, conditions, and policies on specific dates. Examples of rate plans may include: Best available rate, Flexible rate, or a Non-refundable rate.
Trading Rates is a group of rate plans used for partnerships, that are easily managed.
You can think of Trading Rates as a bundle of rate plans that are packaged together for the Katanox Buyers. They make it easier to connect rates to a partnership or contract and allow for a similar workflow for chains connecting through a CRS as for those connecting through a PMS (or multiple PMSs).
As an example, we can group all your Flex rates from all the properties in your account into one Trading Rate - that way, if you need to make a change, you can change only one Trading Rate instead of several rate plans.
How to Edit Rate Plans
On the property’s main page, choose Rate Plans. Click on Edit on the rate plan you want to edit. Then, you can:
Add or delete the Policies for this rate plan
Connect or disconnect Units for this rate plan
After you make changes, click Save.
How to Edit Trading Rates
On the group’s main page, choose Trading Rates. Click on View on the trading rate you want to edit. Then, you can:
Rename the Trading Rate
Add or Remove the Connected Rate Plans
Change Board Types
Add or change Descriptions
See which Buyers have access to the specific Trading Rate
Click Save after you make changes.
Please note that editing Trading Rates won’t affect Rate Plans.
You can check how to add or remove the Connected Rate Plans here.