What elements and influences should you consider when making your hotel forecast? What could affect the pick-up and booking trends of your hotel? Important question to be answered in order to have a solid revenue management strategy.
How can you control the impact of high demand days on should dates? What kind of stay restrictions should be implemented? How san I use my systems to gather data to help me make better revenue management decisions? What revenue management action steps to take so you answer these questions easily...
How far in advance can you identify future fully booked days? Booking patterns are key in revenue management. Stay controls can help you build the shoulder days. This is where your revenue potential is.
How far in advance do people start to book the hotel? When does the booking pace increase? Are we ahead or behind on last years or last months trend? What revenue management action steps to take so you answer these questions easily.
To be able to make solid decisions without any doubts, it is advisable to convert the data from your pick-up reports into graphs. A booking curve graph will help you visualize the booking pace of your hotel. Hotel revenue management is about data driven decisions.
The pickup report will help you to follow the booking pace of your hotel. We will give example of a monthly pick-up and daily pick-up report to demonstrate on what basis you can monitor and quantify your pick-up trends key for revenue management decisions.
What are our trends? Do we have a surplus in demand? How many people did we turn away for a specific date? How far out do groups book? To answer these questions and map our unconstrained demand we will have start measuring all requests. Here are some hotel revenue management action steps to help you out.