Lead times are lengthening, what this means for Pace.

The Hotel industry saw a significant reduction in lead times during covid –our customers were nervous about signing group contracts very far out into the future. Our lead times were shorter than ever before, and group business that historically booked one year out and more was severely reduced.

As booking windows for group business are normalizing again, this has an interesting impact on Pace. Many hotels appear(ed) to be ahead of Pace in 2023 and 2024 so far because business is booking further out. This is great news, as it allows us to plan, forecast and optimize our occupancies and rates. However, if the business we have on the books today for the future is essentially the same business we have had in prior years (we just booked it earlier) – what does that mean? Are we really ahead, or just basically on trend with prior years?

This is one of the many interesting data points we should be considering a little differently in the post-pandemic era.

Amaze Insights provides detailed analytics to help your organization understand not only how your pacing to STLY (Same Time Last Year), but why. For more information reach out to us here.