Rate Calculate Method- VRM requires a user to select one of the following methodologies in order to calculate rental price for reservations crossing seasons.
1) PRORATE
A 7 night reservation crosses two seasons with 4 nights in the first season and 3 nights in the second season. The weekly rates are used to calculate the daily rent amount. The system will calculate the first season daily rent amount as (weekly rate/7)*4 nights. The second season daily rent amount will calculate as (weekly rate/7)*3 nights.
Example:
Test Season #1: $500 Weekly, $150 Day from 1/20/2012 to 1/31/2012
Test Season #2: $1000 Weekly, $200 Day from 2/1/2012 to 4/30/2012
A 7 day reservation crossing over seasons from, 1/29/2012 to 2/5/2012, calculates the rent amount as $785.70.
First season 3 nights calculated as: $500/ 7 = $71.43. This is the daily rate for the first season. $71.43 * 3 nights = $214.28.
Second season 4 nights calculated as: $1000/ 7 = $142.86. This is the daily rate for the second season. $142.86 * 4 nights = $571.43.
A 14 night reservation crosses two seasons with 10 nights in the first season and 4 nights in the second season. The weekly rates are used to calculate the daily rent amount. The system will calculate the first season daily rent amount as (weekly rate/7)*10 nights. The second season daily rent amount will calculate as (weekly rate/7)* 4 nights.
2) ADJUST NEW SEASON
A 7 night reservation crosses two seasons the system will calculate the whole reservation using the first season weekly rate.
Example:
Test Season #1: $500 Weekly, $150 Day from 1/20/2012 to 1/31/2012
Test Season #2: $1000 Weekly, $200 Day from 2/1/2012 to 4/30/2012
A 7 day reservation crossing over seasons from, 1/29/2012 to 2/5/2012, calculates the rent amount as $500. 2 days in the first season 5 days in the second season.
A 14 night reservation that cross seasons will calculate the first week of the reservation using the first season’s weekly rate and calculate the second week of the reservation using the second season’s weekly rate. Regardless of the number of reservation nights falling into each season.
3) ONE RATE
A 7 night reservation crosses two seasons the system will calculate the whole reservation using the first season weekly rate.
A 14 night reservation that crosses two seasons no matter how many nights are in the first season or the second season, the first season weekly rate will be used to calculate both weeks.