Booking Pace Dashboard

Booking Pace Dashboard


Booking Pace Overview


The Booking Pace is a very important report for hotels, because it measures your current property pace compared to your property goals.  It allows you to: 

  • Evaluate what has changed in guest room and event revenue as a result of new confirmed bookings, lost/downgraded bookings, block adjustments, and slippage.

  • See progress toward the property goal(s).

  • Compare current progress with Same Time Last Year (STLY) actuals.

  • Assess the available pipeline based on the number of prospects and tentative bookings.


Important Factors 

There are a few important things to know about the Booking Pace:

  • In order for the report to pull complete information,  the administrator must first create property sales goals. Please refer to the Knowledge Base article on how to set up goals and forecasts in Thynk

  • This dashboard shows property sales goals, not sales goals for individual Sales Managers.


How to View the Booking Pace

To view the Booking Pace Dashboard, follow these steps: 


  1. At the Home Page, click on the ‘Thynk Dashboards' tab. If you don’t see this tab click on the ‘Applications’ (the 9 dots on the top left) and search for Thynk Dashboards. Click on it to create a ‘Thynk Dashboards’  tab for ease.


  1. Click on ‘Booking Pace’.

  2. The dashboard will run based on predefined filters, which  you can change according to your needs. 

  3. ‘Activity Range’ is when the business was booked. These are the defaults, but you can change the dates by clicking on the down arrow.

  1. ‘Consumption Range’ is when the bookings were consumed/picked up. This example shows you the default dates, and again, you can change the dates by clicking on the down arrow. 


  1. ‘Business Segment’ shows all business segments by default. You can change this as needed. 

  2. ‘Type of Revenue’ shows by default all your accounting categories. You can change this as needed. 


  1. As in other dashboards, you can download an image of this dashboard by going to ‘Share’ and clicking on the ‘Download’ tab and clicking on  ‘Download as Image’ to receive a PNG file into your downloads folder.  


  1. To view notifications click on the notifications (bell) icon.

  2. To set up notifications (maybe you want to know when the variance between your production and goal is at a specific threshold), there is a great ‘how to’ video if you click on the notification/bell icon, and click on the ‘See Video’ link.

  3. On the bottom, in the section ‘On the Books’ you can see the details, which are explained below in this lesson. Click on the headers to sort ascending or descending.  Click on ‘Open’ to view even more detail by Rooms or Revenue. 




Information Displayed on the Report

You will see the following information: 

  1. The dashboard filters appear on top.  ‘Activity Range’ = Any bookings that were created or modified during the activity date range will be included in the report. Activity date range is typically last month.

  2. ‘Consumption Range’ = Any room nights or events that are in house during this date range will be included in the report. Consumption date range is typically the first day of last month through the end of booking time.

Important:   Consumption refers to the actual dates that revenue is generated, regardless of the booking's arrival and departure dates. For example , if a booking is in house December 29 – January 2, and you run the report using a consumption date range of December 1 – December 31, only those guestrooms and events on Dec. 29, Dec. 30, and Dec. 31 will be included.

  1. ‘Type of Revenue’ = by default you will see all revenue types. The choices are: combo, equipment, event, or guest room. 

  2. ‘Property’ = By default, all properties are included. You can change this to run one or selected properties. 

  3. ‘Sales Manager’ = By default, all sales managers will appear, and you can change this as needed. 

  4. Below this, the visuals are self explanatory. Again, the figures are based on what you have selected to show. 

  5. ‘Total Revenue’ and the variance to goal, the middle graph shows you a monthly breakdown and Same Time Last Year (STLY), ‘Pace to Goal’ = the variance between Definite revenue and budget of definite revenue. Definites - (minus) Budget.  Of course, you will need to make sure that your Admin has set up the property budgets in Thynk. 

  1. The graphs below show the guest room revenue (along with a visual chart showing STLY), total number of guest rooms (showing STLY), and event revenue in a similar way, with the graph and STLY totals. 


  1. ‘On the Books’  - Scroll down further to see the detailed information that makes up the totals. There is more data to the right - keep scrolling to the right! When you click on ‘Open’, you will see the rest of the months.  

  2. You will see the data according to what you have chosen: Revenue vs Rooms.

  1. ‘New Definite’ = Guest room revenue, and event revenue that turned definite during the activity date range. 

  2. ‘Lost/Downgrade’ = The decrease in definite guest rooms, guest room revenue, and event revenue from bookings whose status changed to Lost, Canceled, or Turned Down during the activity date range.

  3. ‘Reval’ = An increase or decrease in definite guest rooms, guest room revenue, and event revenue during the activity date range. For example, a welcome dinner is added to a booking during the activity date range, resulting in a positive reval. Or, the expected attendance for an event drops by 10% during the activity date range, resulting in a negative reval.

  4. ‘Slippage’ = Slippage applies to guest rooms and guest room revenue only. 

  • Final picked up guest rooms - (minus) blocked guest rooms. 

  • Final picked up guest room revenue - (minus) blocked guest room revenue.

  1. ‘Net Change’ = The final change in guest rooms, guest room revenue, and event revenue during the activity date range. Slippage is only included for guest rooms and guest room revenue. 

New Definite - (minus) Lost/Downgrade +/- Slippage

  1. ‘Definite’ = Definite guest rooms, guest room revenue, and event revenue on the books at the end of the activity date range.

Guest rooms: Definite guestrooms at start of activity date range +/- Net Change

Guest room/Event Revenue: Definite revenue at start of activity date range +/- Net Change

  1. ‘Budget’ = monthly budget for definite guest rooms and revenue, and event revenue. 

Guest room Revenue = Definite Room nights x Definite Average Rate

Event Revenue = Definite Event Revenue

  1. ‘Variation to Budget’ = Definite rooms - (minus) budget

  2. ‘% Variance to Budget’ = Definite rooms / (divided by) budget

  3.  ‘Actual Last Year’ = Actual guest rooms, guest room revenue, and event revenue consumed for last year (current year -1) regardless of activity date range.

  4. STLY = (Same Time Last Year) Definite guest rooms, guest room revenue, and event revenue on the books for the same activity date range last year.

  5. Variance to STLY Revenue = Definite - (minus) STLY

  6. Variance to STLY % = Definite / (divided by) STLY

  7. Tentative LY = (Tentative Last Year) Tentative guest rooms, guest room revenue, and event revenue on the books for the same activity date range last year.

  8. Prospect = Total prospect guest rooms, guest room revenue, and event revenue on the books at the end of the activity date range.

  9. Tentative = Total tentative guest rooms, guest room revenue, and event revenue on the books at the end of the activity date range.



 

Resources

  1. How to create sales goals and forecasts in Thynk - Knowledge Base article

  2. Set and send smart notifications - Salesforce article 


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