You can find inventory functionality in the Configuration menu > Pricing > Inventory

This configuration will provide BEONx with data about the hotel inventory structure. The algorithm will understand the complexity of your spaces and rate structure.

Beonprice will have the opportunity to create value and maximize the RevPAR for each space and each rate the hotel offers.

To bear in mind before configuring inventory:

• Check the integration between BEONx and your PMS partner.
  • What type of information does the RMS receive (type of bookings: tentative, cancelled, no show…)
  • Is the two ways connection available?
  • What kind of restrictions can BEONx send to the PMS?
• Hotel inventory: type of spaces and quantity
• Do you allow overbooking by space?
• Rate plans: what occupancy, meal plans and cancellation policies do your spaces admit?
• Do you have derived rates? Which ones are your base rates (master rates)? How do they derive from the master?
• Do you use price levels? You will be able to create your price levels or to import from an excel file
• Types of supplements and discounts that you use (in all channels). For example: breakfast included supplement, superior room supplement, non-refundable discount…

If you have all these points defined, you have everything to configure your inventory in Beonprice in an easy way.

Let’s go through the concepts we are going to work with:

• Space: Related to the physical space the client books in the hotel. We can identify 3 categories: room, bed and apartment.
• Supplements: Extra value assigned to each attribute (occupancy, meal plan and cancellation policy). Supplements will be added to the space value.
• Rate Plan: Group of attributes (occupancy, meal plan and cancellation policy) and conditions (MLOS, travel window, release…) a client can book a space in the hotel.
• Rate Code: Only combination of Rate Plan + Space

Remember: If the value to configure is different depending on dates, you can configure it at Exceptions.

To bear in mind:

• It is necessary to create all your rates and map them correctly with your PMS codes so Beonprice can give you more value.
• In case you have old codes (you haven’t used it for more than two years), it is convenient to delete them from the PMS. A clear and tidy structure will help you in your daily routine.
• If, in the future, you create new rates, take time to configure it also in Beonprice.
• If you have some rate plans unavailable to configure in Beonprice, configure it with a similar one.

Let’s see what steps to follow:

• Create a space: related with the physical space a client books in a hotel. Beonprice identify 3 categories: room, bed and apartment
• Create supplements: Extra value you give to each attribute (meal plan, occupancy…). Supplements will be added to space value.
• Create rate plans: Group of attributes (occupancy, meal plan and cancellation policy) and conditions (length of stay, travel dates…) so a customer can book a space.
• Configure exceptions in case you work in a different way for season.