Business Pickup
Use Business Pickup to compare revenue On the Books
Revenue for bookings currently held in the Sales and Catering system for future dates. between the current and past dates. For each month, you can review the revenue by status (Prospect, Tentative, Definite, Lost/Cxl, and Turn Down) next to other dates, and the variances between the dates.
Business Pickup helps you identify increases or decreases between dates and trends over time. It can also support forecasting by indicating unusual revenue movements.
For an overview of all three Business Pace reports, view the video in the Year on Year Revenue topic.
See Multi Property Mode to learn how this page functions when you have access to several venues Any business that sells function space. For example, hotel, conference centre or a sporting arena..
Using Business Pickup
- On the Trend Analysis menu, click Business Pace, and then click Business Pickup.
- Use the filter buttons to change the default data selections.
See Filters for a list of filters and how to use them. - In the Select the Start Month list, select a month and year combination as your starting point for pickup patterns.
- In the Show next n months tab, enter a number of months, up to 24, that you want to forecast for.
- Select or clear the Show variance checkbox.
If selected, the VAR and VAR % columns display and compare the revenues between all dates. - Select or clear the Include accommodation revenue checkbox.
If selected, the values include non-Meeting and Events revenues, such as from hotel guest rooms. Bookings that have only accommodation and no Meeting and Events revenues are hidden. This option only shows if you select it in Database Setup under Settings. - Click a blue, linked value in the Export Date column to view a detailed Bookings Report on this date.
- Click Export to Excel in the Bookings Report window to export this data for further review.
- Click Close to exit the Bookings Report window.
- Click the PDF option
to convert and save the current page as a PDF file or click Export to Excel below the table to export data for further review.
We recommend that you review a period of at least 12 months to identify future revenue opportunities.
Data Details
All revenue figures are exclusive of value-added tax (VAT).
| Field | Description |
|---|---|
| Event Month | The month in which an event occurs. The report defaults to the current month and a 12-month period. You can select a new month from the Select the Start Month list. On the Show next n months tab, you can also enter a custom period of up to 24 months. |
| Status | The booking Also called an enquiry. A piece of business that consists of one or more events over one or more days. Can be of any status, for example Prospect, Definite, or Lost/Cxl. status: Prospect The booking status of an unconfirmed event. You have no verbal or written confirmation, but you might hold space provisionally., Tentative The booking status of an event that the client has verbally confirmed. You have sent them a contract., Definite The booking status of an event for which you have received the signed contract from the client., Lost/Cxl Includes two booking statuses:
Lost: the client decides not to hold a prospect or tentative event at your venue.
Cxl (Canceled): the client cancels an event for which you have a signed contract. A cancellation fee might apply., and Turn Down Also known as denials. It’s the booking status of events for which you decide not to offer availability. This can be because you don't have the space available, or because you believe it is not the right piece of business.. |
| Export Date |
The revenue on the books as of the Export Date. The date refers to when the data was extracted from the Sales and Catering system and might differ from when you imported it into SmartSpace. The four most recent export dates display by default. Use the Export Date filter to change the date selection, to a maximum of five. If you want to compare the previous year's trends, remember that SmartSpace only displays data from the past month and future 18 months from the selected file extract date (in the Export Date filter). |
| VAR |
The difference in revenue on the books between the dates in the surrounding columns. Increases show in green and decreases in red. If you select more than two dates, the variance between the current and the oldest date is not shown. If you want to see the variance between the current date and one in the further past, select only two dates. |
| VAR % |
The difference in revenue on the books between the dates in the surrounding columns, expressed as a percentage. Increases show in green and decreases in red. If you select more than two dates, the variance between the current and the oldest date is not shown. If you want to see the variance between the current date and one in the further past, select only two dates. |
Best Practices
Review the Changes and Take Action
Examples include:
- Review the change in Prospect and Tentative bookings for the immediate booking window. Ensure your sales team prioritizes those bookings for conversion.
- Review any major changes in Lost/Cxl Includes two booking statuses:
Lost: the client decides not to hold a prospect or tentative event at your venue.
Cxl (Canceled): the client cancels an event for which you have a signed contract. A cancellation fee might apply. status for periods when the sales teams has shortfalls to address.
- How have bookings been converting to Definite? If it's much faster or slower than expected, do you need to update your Demand Forecast?
- Identify trends and regularly check if those trends change. For example, the amount of pick up in one week for the next month, the month after that and so on. If pick up in one week differs from those trends, does that continue week after week? Or does it go back to normal?
