This guide explains how currency conversion works across FLYR Hospitality.
General information
Which currency options are available?
With Daily Dynamic Exchange Rates, the selector includes commonly used local currencies from your portfolio together with these default options:
Group Default Currency
EUR
GBP
USD
Group Default Currency converts the selected property or properties into your group's configured reporting currency so performance can be compared consistently.
With Fixed Exchange Rates, the selector includes Group Default Currency and relevant, commonly used conversion currencies available through your configured fixed rates.
In Insights, the selector additionally includes Property Local Currency. This preserves each property's PMS-defined local currency and is not a platform-wide conversion option.
Why doesn't every local or configured currency appear separately?
The selector is designed to convert a property, group, or portfolio into one common currency. A currency configured because it is local to a property does not automatically appear as a standalone conversion option. In Insights, use Property Local Currency to preserve each property's PMS-defined currency.
Can another conversion currency be added?
Yes. Contact us through the help chat and tell us which currency you need.
Can my pricing currency differ from my reporting currency in the PMS?
No. Your pricing and reporting currencies must match in your PMS.
Daily Dynamic Exchange Rates
How do they work?
FLYR sources rates from a third-party provider using reputable financial institutions and banks, including the European Central Bank. Revenue uses the rate from the reservation's latest update date.
How often are rates updated?
Rates refresh daily at approximately 05:00 UTC+1. Allow approximately one additional hour for the update to appear across the platform.
Fixed Exchange Rates
What are Fixed Exchange Rates?
Fixed Exchange Rates let your organisation define rates for a set period. Admin users maintain them in Configuration, and they apply according to reservation stay dates.
What do the configuration terms mean?
Base Currency: The reference currency used for calculations.
Target Currency: A currency configured for conversion against the base currency.
Default Rate: The standard rate used when no Custom Period Rate applies.
Custom Period Rate: A rate that overrides the Default Rate for specified stay dates.
How are two target currencies converted?
Conversions go through the base currency. Dynamic rates are not used while Fixed Exchange Rates are enabled.
How does Group Default Currency differ from the base currency?
Group Default Currency is the group's reporting currency and a selectable display option. The base currency is the reference used for Fixed Exchange Rate calculations.
Can Fixed Exchange Rates be configured for selected properties?
No. They are configured at portfolio level and apply across the group.
Who can manage Fixed Exchange Rates?
Only admin users can manage these settings.
What happens to historical data when switching to Fixed Exchange Rates?
Historical bookings are recalculated using the rates applicable to their stay dates, and reports update accordingly.
Can exchange-rate data be exported?
Exchange-rate data is not currently available for export.
Need help?
Contact us through the help chat for configuration support or to request another common conversion currency.