What is a Pace Report?
A pace report is an essential analytical tool in the hospitality industry that compares booking trends and performance metrics between the current year and the previous year. By analysing reservations made and stays completed in both years, it provides valuable insights into:
Booking velocity: The speed at which bookings are made.
Guest behaviour: Patterns in guest preferences and booking habits.
Performance evaluation: Overall booking and revenue performance.
Key Benefits
A pace report helps hospitality professionals:
Identify trends in guest behaviour.
Assess the effectiveness of current marketing strategies.
Make informed decisions to optimise occupancy and revenue.
Respond proactively to market dynamics.
Adjust pricing strategies for maximum profitability.
By reviewing pace reports regularly, property managers can enhance operational efficiency and adapt to changing market conditions.
Frequently Asked Questions
Q: Why is the occupancy different in the Pace Report and Performance Report?
A: The difference arises due to the distinct criteria for including bookings in each report:
Pace Report: includes bookings with stays that fall within a 12-month window (past and future) and splits them into two groups based on when the reservation was made:
This Year:
Bookings with:Check out on or after the start of the current month
Check in on or before the end of the 12th month from the current month
Created on or before today's date, one year ago
Last Year:
Bookings with:
Check-out on or after the start of the same month, last year
Check-in on or before the end of the 12th month from that point
Created on or before today's date
Example (Assuming today is 8 July 2025):
This Year:
Bookings that:
Check out on or after 1 July 2024
Check in on or before 30 June 2025
Were created on or before 8 July 2024
Last Year:
Bookings that:
Check out on or after 1 July 2025
Check in on or before 30 June 2026
Were created on or before 8 July 2025
Performance Report: Includes all stays completed within the reporting month, regardless of when the booking was made. For example, a reservation made two years ago but resulting in a stay last month would appear here, offering a comprehensive view of realised occupancy and revenue.
Key Differences:
Criteria | Pace Report | Performance Report |
Booking Window | Stay dates with check-in/check-out in the past or next 12 months, grouped based on when the booking was made | Any time (if the stay occurred in the month) |
Focus | Forward-looking insights based on when bookings were made and when stays are expected to occur | Actual occupancy and revenue |
Use Case | Short-term operational and marketing decisions | Long-term performance and trend analysis |