The key figure Pickup is one of the most important KPIs (Key Performance Indicators) for a successful Revenue Management strategy.
Perhaps the pick-up isn’t as famous as the RevPAR, but it is a great number to find potential revenue generators. Pickup indicates, how many room-nights have been booked on a certain date or period in the past, for the future. Or how much revenue has been earned from the reservations in the past, for the future. The RateBoard App provides a fantastic feature, which allows you to see each generated pickup for different customized periods. On top, you can also see to which arrival dates these reservations are related.
A question that I asked myself quite frequently, as a young Revenue Manager, was: "To which key figures do I need to pay attention?" The pickup helped me a lot in answering this question.
Let me give you some examples to clarify
Let’s suppose that, last week's pickup was very good and shows that 700 room/nights have been booked. You can really be happy about this result! You can even have a little celebration if you realize that only 100 bookings have been made in the same period last year. There is a reason for satisfaction, but there may also be a reason for caution. Why?
For this, you need to analyze the pickup report more detailed. If you have a look at the period in which the selected bookings have been fallen, you could realize that all the reservations refer to the same arrival date/period. If this is the case, your hotel is already nearly fully booked at this time. Ask yourself what the reason for this might be. Have you forgotten to enter a holiday period? Have you not heard the announcement of an event taking place in your region? Those could be the reasons why your rate stayed low although the demand in this period is quite high.
Make sure to offer always the right price, at the right time to your customer. And make sure your revenue grows.
Integrate the pickup analysis into your daily work routine and you will be surprised how much better your knowledge about the distribution performance will be.
Also, RateBoard offers a lot of detailed and clearly structured possibilities to analyze the hotel’s pickup. Learn more about it in a personal telephone call. Arrange your appointment now.