FLYR Hospitality supports multi-currency reporting with Fixed Exchange Rates. This option provides stability and consistency for groups that use internally defined rates.
Source of exchange rates
Fixed Exchange Rates are entered by admin users on the Configuration page. This lets your organisation align currency conversion with its financial practices and reporting calendar.
How fixed rates are applied
Fixed Exchange Rates are applied according to reservation stay dates.
Initial booking: The fixed rates configured for the stay dates are used to calculate converted revenue.
Later changes: If the configured rates for those stay dates change, affected revenue values update accordingly. Otherwise, the values remain consistent and are not affected by daily market fluctuations.
Available conversion currencies
The platform-wide currency selector shows Group Default Currency together with the relevant commonly used conversion currencies configured for your group.
Group Default Currency is the group's reporting currency and provides a consistent currency for comparing properties. A currency being configured as part of the fixed-rate setup does not necessarily mean it appears as a separate option everywhere in the platform, and each property's local currency is not automatically exposed as a standalone platform-wide option.
Insights additionally provides Property Local Currency, which displays each property's production in the local currency defined in its PMS. This is specific to Insights.
If you need another common conversion currency that is not currently available in the selector, contact us through the help chat. We can work with you to add it.
Benefits
Stability: Reporting is not affected by daily currency fluctuations.
Customisation: Admin users can define rates for monthly, quarterly, yearly, or other reporting periods.
Standardisation: Properties in different locations can be compared using one common reporting currency.
Setting up Fixed Exchange Rates
Open Configuration from Settings and locate Fixed Exchange Rates.
Select a base currency. This is typically your organisation's primary reporting currency.
Enter default rates for the local currencies used across your portfolio. Default rates apply unless a custom period overrides them.
Add any additional target currencies needed for common reporting.
Add custom periods where required. Avoid overlapping periods for the same currency; custom-period rates override default rates.
Activate the configuration. Allow approximately two hours for rates to update across the platform.
Review the rates periodically and update them when your internal financial assumptions change.
For a visual guide, watch Fixed Exchange Rates: A Quick Configuration Guide.
Fixed Exchange Rates are well suited to multinational hotel groups, revenue managers, analysts, and corporate teams that need consistent reporting. For an overview of other exchange-rate options, see Supporting Multiple Currencies in FLYR Hospitality.