Market Segment Codes

In the hotel industry, market segment codes are used to categorize different types of customers or market segments for analysis and marketing purposes. These codes help hotels identify and target specific customer groups effectively. These codes are typically used in hotel reservation systems and marketing strategies to target and track different types of customers and market segments.

Setup Market Segment Codes

To access this menu, follow these steps:

1. open the 'Hotel Management' tab;
2. click on the 'Configuration' tab;
3. 2. select 'Market Segment Codes' from the list in the 'Reservation Settings' section. 

How to create a new Market Segment Code

Click the 'New' button in the top left corner to create a new record - a new row appears:

1. 'Market Segment Code' - provide the title of the code;
2. 'Name of Market Segment' - specify the market segment to which this code belongs;
3. 'Description' - provide more details for internal users on the specific market segment code.

How to modify Market Segment Codes

1. To modify a record, click on the corresponding line and make all necessary adjustments for specific market code;

2. To delete a record, click on the checkbox in the corresponding line -> Actions -> Delete.

3. To duplicate a record, click on the checkbox in the corresponding line -> Actions -> Duplicate.

Why Market Segment Codes are needed

By assigning market codes to different types of reservations, such as corporate, group, or leisure, hotels can better understand where their guests are coming from and tailor their marketing and pricing strategies accordingly. This helps hotels make informed decisions about their target markets, pricing strategies, and promotional efforts to maximize revenue and occupancy.

Here are a few examples of the most commonly used Market Segment Codes in the hotel industry:

1. Corporate/Business Travelers - Code: CORP
2. Leisure Travelers - Code: LEIS
3. Group Bookings - Code: GRP
4. Government/Military Travelers - Code: GOVT
5. Travel Agents - Code: TRAV
6. Airlines/Flight Crews - Code: AIRL 

These codes are often used by hotels to categorize and track different types of guests and reservations for marketing and operational purposes. In our system, it is possible to sort reservations by a certain market channel code to collect relevant statistics and, if necessary, this information can be exported as an Excel file.