How to use the Pace Board

  • Posted on: July 25, 2014
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Let’s imagine you manage a 6–bedroom property that has been in your program for several years. You know the owner keeps close watch on his advance reservations. He will call you if they fall behind last year. He likes to know you are also keeping a close eye on his advance reservations.

You just received your RezAnalytics reports for April 8. They compare 2013’s reservations to the 2012 reservations that were on your books as of April 8, 2012.

You check the Pace Board to see if there are any weeks his advance reservations are behind last year for the first part of your peak season. There is one week that’s behind for Prop32, which is his property’s code in your PM system. It’s the week beginning Saturday, June 8. At this time last year, the same week in 2012 was booked for $6,170.

You decide to check on how all your other 6-bedroom properties are doing compared to last year. You do this using using the same report, but you set it to show only 6-bedroom properties. You are satisfied to see advance reservations are ahead of last year for 8 weeks, with only 3 other weeks behind. You have already lowered rents, so you want to wait a little longer before you do anything more.

You want to know if advance reservations for your peak season are still running ahead of last year. You check the summary section in this report and see that 6-bedroom properties are still ahead of last year.

You check the This Year report to see which weeks Prop32 is booked for the early weeks in peak season. You see the weeks beginning June 1 and July 6 are booked, and the owner is using the weeks of June 15 and June 22. In addition to June 8, the week of June 29 is still open.

 

You call the owner of Prop32 to tell him what you think they should do about the weeks of June 8 and June 29. You tell him you will feature his property in an email promotion later this week. He agrees and thanks you for staying on top of things for him.