How HotelIQ Handles Rates Sold in Multiple Currencies

Example: A hotel in Turkey sells rates in its base currency (Turkish Lira) and in Euros

When a reservation is booked for a future date in EUR, the PMS converts the amount to TRY using the conversion rate of the date the reservation was made. On the day of the reservation, it actualizes and the amount is converted from EUR to TRY using the rate of the day again.

However, HotelIQ receives data in the PMS base currency (TRY) each day, which is converted from EUR using the rate of that day. This is applied to the most recent actualized day and all future dates. Any currency volatility may create data gaps between the rates at which reservations were sold and what they are actualizing at.

HotelIQ’s revenues are also converted from one currency to another (in this instance, TRY to EUR) using rates set by the hotel’s Corporate Administrator for stay date periods. For more information on Currency Conversion, please read here or contact our Service Desk.