09
Dec

Hotel Booking Curve


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.

Below an example:

hotel_booking_curve_1


All the cancellations will be taken into consideration on the reservations curve.

Identify your Hot Days (or cold Days) Is it what you expected? If not;
  • Analyze
  • Understand
  • Can you influence it?
  • How is it affecting your forecast?
  • Are you loosing opportunities?
Your selling strategy affects your forecast; therefore every time you make a rate change, you should analyze the impact on your forecast. Are your actual rates affecting your booking curve in a way you did not expect? What are your trends and how they compare to your city or region?

hotel_booking_curve_2


Develop a tool which allows comparison i.e. last year same day versus this year pick up or past 5 Wednesdays as per following graph.

hotel_booking_curve_3


For more information on hotel yield and revenue management click here: revenue management.
Cheers,
Patrick - Xotels