Rate Loading – GDS
Most negotiated rate agreements run from 1 January to 31 December. To make sure companies can book your property in January, it’s important to start to update and load rates on the GDS now (and through to the end of December). Loading rates late can lead to missed bookings. Worst of all, those lost bookings might go to a competing hotel.
The Great Hotels of the World Corporate Sales & GDS team has compiled a list of tasks you should definitely implement during rate loading season to make sure negotiated and consortia rates work for you in 2020.
1. Make sure your 2019 rates have been renewed for 2020. Negotiations normally begin around June and carry through to October, but the truth is, its never late!
2. Save time by having all the documentation ready when you request a rate to be loaded:
- Proof of contract. The updated contract between the hotel and the company.
- Rate Loading Instructions. Either the company or a Travel Agency associated with the company will provide you with this information. Rate Loading Instructions are often updated, so having the ones from previous years may be counterproductive. Asking regularly for the most updated version is a best practice.
- Rate Activation Form. This form needs to contain all the details about the rate: Name, Description, Cancelation policy, Taxes, etc.
However, if your agreement is through Lanyon and you have Lanyon with Great Hotels of the World, none of these documents are needed. We take care of the whole rate loading procedure!
3. Once the rates are loaded, it is important to check them in the platform and confirm that they are visible and comply fully with the agreement: fee, policies, taxes, etc.
BONUS TIP: Don’t stop there! Maintain a relationship with the company throughout the whole year. Find out if the company’s employees are happy with the hotel and services and take the opportunity to promote your property to increase production. Finally, this will also ensure that they will provide you with updated Rate Loading Instructions so you don’t miss out on any booking.
Including these small actions in your calendar can have a great impact on your property!