Booking Pace

  
Booking Pace
Booking pace is the speed at which bookings materialize for a specific arrival date. In other words - it is the rate at which reservations are made for a particular future date. Usually, it is represented by an upward-sloping exponential curve, indicating that the rate of change is increasing closer to the arrival date.

It is important to monitor even the slightest variations in the curve as they may indicate potentially important information about the future demand. For example, if 30 days before arrival a normal booking pace is a pick up of 10 rooms a day - a pick up of 15 rooms (few days in a row) can indicate that the demand at the current price is 50% higher than anticiapted. In this case price should be adjusted immediately (ceteris paribus). Booking pace also helps hotels forecast labor needs more accurately.