The pickup report will help you to follow the booking pace of your hotel. We will give an 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.
Monthly Pick up Analysis
Record on every first day of the month the monthly occupancy percentage for every future month. It is recommended revenue management practice to record only the definite on the books for more precise comparison.
A more detailed tool can be developed to understand and compare from previous months.
The above revenue management tool can be developed by revenue managers for the same month i.e. January for January but also for future months i.e. January for February, January for March. The room night pick up can be informative but the ARR knowledge can definitely be built with such a tool. Check your existing pick-up tool on how to develop the knowledge on ARR pick up. What explains the increase or decrease of ARR? Is the decrease of the corporate segment ARR normal i.e. your large main corporate accounts book last minute with its lowest rate. Again such tools should help you to identify new trends to forecast better the future pick up.
To give you even more detailed knowledge of the trends in your hotel, a pick-up tool should include statistics or data per segment. This way you can identify exactly which market segment is contributing to the reservation production, which is an essential step in your revenue management strategy and will offer a way to generate more revenue for your hotel.