Rates, plans and the cancellation policy
A rate per type and date, and the rules that go with selling it.
A rate plan is a way of selling a room — room only, with breakfast, a corporate plan — and it carries a price per room type per date. The wizard loads a starting rate for every type across a horizon; seasons and adjustments come after.
- Restrictions live on the plan: minimum stay, maximum stay, closed dates, stop sell. They are what refuse an amendment with "minimum stay is 2 nights", and a manager may override at the desk.
- The cancellation policy decides what may be retained when a booking is cancelled. Setting it here is what lets the desk retain money with a reason instead of arguing.
- A contracted rate for a company or agent overrides all of this for their bookings, and cannot be typed over at the desk.
The one thing to diary: a rate sheet has an end. See Rates run out.