Glossary
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Users that have access to multiple properties in a management company. Access is assigned based on Management Areas and/or BI Attributes. Users can be editors or viewers.
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The most up-to-date data in RevPlan. Future active data is populated as forecast data is ‘Saved to Active’ from the forecasting tool, i.e. Active Forecast. Past active data is populated daily for the previous day with financial actuals from the PMS.
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The most current forecast Saved to Active from the Forecasting Tool. The active Forecast is blank for future dates until a forecast is Saved to Active. For future months, the Active Forecast can only be populated via ‘Save to Active’ from the forecasting tool. For past dates, the Active Forecast is automatically updated with financial actuals. In the current month, the Active Forecast will reflect a combination of historical and forecast data, where past dates reflect actuals and current + future dates reflect the last forecast that was Saved to Active. For example, if today is Aug 8, the Active Forecast for August will be based on Actuals from Aug 1 to Aug 7 + most recent forecast Saved to Active for Aug 8 to Aug 31.
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Final net financial Room Nights, ADR and Revenue that a hotel has finished/actualized with on a historical day in the Current Year.
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Actual STLY is used in the RevPlan for historical comparisons against financial actuals. A comparison with Actual STLY is based on Same Time Last Year logic relative to a current year day of week, e.g. comparing Sunday to Sunday, Monday to Monday, etc. So, relative to Monday, November 18, 2019, the Actual STLY would display the historical actuals on Monday, November 19, 2018.
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Net Average Daily Rate excluding tax, service charge and/or any package components. On historical dates, this is calculated as Room Revenue divided by Room Nights. For future dates it can be either calculated or used to calculate Revenue (Rm Nts X ADR = Room Revenue).
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Functionality in the RevPlan Forecasting Tool that allows users to adjust the forecast in a fully automated fashion following user-defined parameters, such as Data Source, Occupancy / ADR goal etc.
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Net average daily room rate (ADR) excluding tax, service charge and/or any package components.
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Custom data fields defined by your company and assigned to each property during property registration. BI Attributes can be used in Above Property user access setup and when setting Financial Submission schedules. It can also be used as a filter on the Property List and in rollup report.
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A group of rooms reserved for a specific customer, usually for a set period of time.
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A data comparison option used in RevPlan’s reports and Forecasting Tools for historical comparison based on calendar date logic. For example, for Thursday, August 1, 2019 the Calendar LY will be Wednesday, August 1, 2018. Unlike STLY, Calendar LY is typically used on the monthly level to compare Current Year financial forecast and/or performance versus Last Year financial performance.
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Day of week.
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DOW Logic: A statistical technique used in RevPlan, whereby a future day is compared against the same day of week (DOW) last year, which is referred to as the STLY day. For example, the first Monday of June 2020 (June 1, 2020), is compared with the first Monday of June 2019 (June 3, 2019), which is the corresponding STLY date. RevPlan uses DOW logic because of how the day of week can affect hotel revenue. Comparing Monday, June 1, 2020 to Monday, June 3, 2019 produces more accurate reults than comparing Monday, June 1, 2020 to Saturday, June 1, 2019 because Saturdays traditionally produce more revenue.
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Food & Beverage
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In the Forecasting Tool, Fiscal Date Range represents the Fiscal Year that will be forecasted. A separate Fiscal Date Range must be configured for each calendar year (i.e. 2019, 2020, 2021 etc.) for as many years into the future needed. Fiscal Date Range does not necessarily follow the calendar year, e.g. some hotel companies define Fiscal Date Range following the financial reporting calendar starting in April.
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Group On The Books is the total sum of all active group blocks in deductible status (usually DEF or DEF + TEN) as per the group block grid in PMS. In the Forecasting Tool only, Group OTB might also include Prospect groups depending on your S&C Mapping Setup in the RevPlan.
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Blocked groups rarely materialize in full (no shows, last minute cancellations, block attrition etc.) The % reduction between the Blocked group rooms and Actualized / Consumed group rooms is known as Group Wash (or Group Slippage).
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One-off or repeating event characterized by atypical demand patterns and/or business mix (Christmas, Ramadan, city-wide congress, fair, Olympics, Labor Day etc.). By setting up an Impact Event you will be able to 1/ see this Impact Event highlighted in various views and reports; 2/ use the Impact Event as a report filter (e.g. see OTB/Pickup just for Labor Day) and 3/ treat this Impact Event in the Forecasting Tool separately from normal business days.
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The last forecast submitted to Finance using the Revenue Submissions tool.
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The geographic and/or operational areas in which your company operates properties.
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An organization that oversees multiple properties. IDeaS adds your management company to the system during initial set up.
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Users that have access to all properties within a management company. Users can be admins, editors, or viewers.
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Market segments divide customers into groups with common needs and purchase behaviors, which allows you to understand: how and where customers book, customer price sensitivity, supply and demand for customer business, customer booking lead times, customer preferences for specific room and rate products.
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On The Books (OTB) refers to the total net sum of room nights and revenue booked so far for a future date or period.
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On The Books (OTB) refers to the total net sum of room nights and revenue booked so far for a future date or period.
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On the Books Same Time Last Year is generally used as a comparison to OTB (CY – Current Year) and refers to the total net sum of room nights and revenue that was on the books as of a historical day for a future period relative to that day. For example, if on Monday, Nov 18, 2019 I have 100 room nights on the books for the rest of November 2019, then the OTB STLY should show me what was on the books as of the same Monday last year – so Monday, Nov 19, 2018 for the remainder of November 2018.
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An Auto Adjust feature in the Rooms Forecasting Tool that allows you to adjust the forecast to maximum 100% occupancy. The forecasted Pickup Rm Nts for any date that is over sold will be reduced based on the weighted distribution logic.
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Booking pace measures the speed at which bookings accumulate for specific future arrival date or period. Being a relative measure, current booking pace is usually compared to a benchmark – STLY, Submitted Forecast or Budget.
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The net sum of room nights and revenue booked within a historical time frame for a future period, considering new, cancelled and modified reservations. For example, net room nights received since yesterday for next Tuesday.
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Property Management System
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A lodging entity (typically a hotel) within a management company
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Property Admin user with the highest level of access and editing rights that include granting access, adding/deleting and other property users. Typically, this is the hotel RM leader.
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The page that lists the properties under a Management Company
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Users that have access to one specific property either in a management company or an independent property. Users can be admins or viewers.
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Revenue Per Available Room. Calculated as Rooms Revenue / Available Rooms.
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The RevPlan is a cloud based, one stop shop platform for property and above property users that serves the needs of multiple functions (Revenue Management, Sales & Marketing, Food & Beverage, Banqueting, Finance etc.) to run commercially successful business. RevPlan is a practical tool supporting the real business needs and processes. It offers timely automated collection of financially accurate historical and forward-looking data, forms an organization-wide standard data language and builds the total revenue culture across all functions of the hotel company on all levels.
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The RevPlan recommended forecast, calculated by the system based on user defined criteria, including forecast method and historical date range.
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Revenue Management System
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The RMS forecast fed from IDeaS G2/G3 once per day.
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The Rooms Forecasting Tool is an integral component of the RevPlan platform that incorporates all the essential data, automation, powerful logic and analytics necessary to complete a fact-based rooms revenue forecast.
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Sales and catering
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The act of saving a working forecast session as the active forecast session. When you save a forecast to active, the system freezes the forecast, makes it availabe to submit under Revenue Submissions, and makes the data available in reporting and forecasting tools.
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The forecast you interact with within a forecast interval. The session forecast doesn’t impact the forecast numbers in any reports within the RevPlan, until the Session Forecast is Saved to Active. Consider it as a safe sandbox for testing and trying any scenarios within a session, until you reach the desired forecast outputs and are ready to make it official by saving the Session Forecast to Active.
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Same Time Last Year is often used in RevPlan for historical comparison and is based on the day of week logic. E.g. for August 1, 2019 (Thursday) the STLY will be August 2, 2018 (Thursday). Similar to that STLY for Aug 1 to 31, 2019 will be Aug 2 to Sep 1, 2018.
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Refers to the same time two years ago based on the day of week logic. E.g. for August 1, 2019 (Thursday) the STLY-1 will be August 3, 2017 (Thursday). Similar to that, STLY-1 for Aug 1 to 31, 2019 will be Aug 3 to Sep 2, 2017.
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Financial forecast submitted with the last forecasting cycle.
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A reference to RevPlan, used throughout RevPlan training and this Help text.
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Transient On The Books refers to the total net sum of transient room nights and revenue booked so far for a future date or period.
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The people in your company who use the RevPlan system.
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The drop in occupancy due to cancellations, no-shows, group cut-offs, etc. For future dates, it is the expected drop in Peak Demand. For past dates, it is the drop between the date with the highest Occupancy On Books and the Actual Occupancy.
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