Pickup, on the books and same time last year
More than 30 years in hotel rooms division, from hostels to five-star chain hotels; focused on revenue management since 2009.
On the books is everything already booked for a future period. Pickup is how much that grew over a recent period, for example the last seven days. Same time last year is the position on the books exactly one year earlier, at the same distance to arrival. Together they tell you whether you are filling faster or slower than last year.
The three terms
- On the books (OTB): room nights and revenue already booked for a future date or month
- Pickup: the change in on the books over a period: new bookings minus cancellations
- Same time last year (STLY): what was on the books a year ago at the same distance to arrival
A worked example
Example figures. December is ahead of last year and is still picking up faster.
Why not compare with last year's final result
In October, December cannot yet match last year's final December: most bookings still have to come. Comparing with the same time last year is the only fair comparison while a month is still filling.
What to do with it
When a month is behind last year at the same time, look at which nights are behind before changing anything. Often it is only the weekends, or only the period around one event. That points to a different action than lowering every rate.
RevView shows on the books against the same time last year per month and per night, with the pickup of the last seven days.
Questions
How far back is same time last year?
For a month: the same date one year ago. For a week: 364 days back, so the weekdays line up.
Do cancellations count in pickup?
Yes. Pickup is net: new bookings minus cancellations in the period.