How to work with Rooms Budget and forecast
Summary
This section displays how to handle and maintain the Rooms Budget and forecast. To handle and maintain budgets and forecasts for any other departments or profit centers, please see this article.
Intended Users
General manager, hotel manager, revenue manager, booking manager and controller.
Instructions
- The view is divided into five columns – Month, Revenue, Room Nights, Guest Nights and Available Rooms.
- Under each column, you can view what you chosen. You can select this in the View Options menu. See instructions below under heading View Options.
- If you have chosen to use segments, you will have to choose Show Segments in the View Options – Budget & Forecast menu. See instructions below under View Options.
- You can now adjust the budget and forecast directly in this module. It is recommended to use the Live forecast module when calculating and submitting the Forecast.
- You can choose which period to view by using the date selecter. You can also select to see months or years.
Tools
Under Tools you have four different choices.
1. Available Rooms
This is where you set your room inventory. It could vary during different time periods. You might have long time renovation in the hotel that closes down hotel rooms or you might add hotel rooms. So, in order to get the correct calculations for Occupancy, ARR and RevPAR in the Flash Report, we recommend you adjust your inventory.
2. Submit Several
This is one way to submit your Live Forecast to Forecast; you can also do it from the Live Forecast module.
3. Settings
- Allow Negative Live Forecast − allows your Live Forecast to forecast more than your capacity.
- Exclude from RevPOLU − sometimes you might want one Budget or Forecast not to be calculated in the figure RevPOLU Segments. Here you can choose if you want to use segments. You can also choose if you want to forecast on each separately or as a Day Total.
- OTB − Use On The Books when calculating pickups and forecasts where connected to a source system. You may also use Tentative OTB if applicable. It is standard practise to use OTB Guest Nights and put days as 7.
- Auto Live Forecast on new OTB – this means PMI will recalculate every time new OTB figures are available, as often as every evening.
4. Export
You can export to Excel or PDF. Remember to save your data before exporting your data to Excel or PDF, or PMI will export the last saved data and you will not export your latest figures.
View Options
You may choose to see Budget, Forecast, Actual and Last Year in the View Options. And also choose to Show Segments, if available.
Recommendations
This module is more for information purpose. Its an easy way to see if you have the Budget and Forecast in place for a certain period.
If you want to change the figures, we recommend you to do it in the Live Forecast module; please see how under Submit to Forecast.
Troubleshooting tips
Understanding the Scheduled Horizon and Graph Lines
In legacy tables and schedules, the Scheduled Horizon is marked between the vertical red “Today” line and the vertical dashed green “Scheduled Horizon” line. Beyond the green line, users can manually input scheduled hours. If the schedule doesn’t extend that far, PMI can auto-generate a SMART forecast. In the Day-to-Day (labor graph) the Scheduled Horizon is displayed as a vertical dashed green line, while the “Today” date is shown as a vertical dotted black line.
Troubleshoot data in the Import Status view
Accessing the Import Status View:
- Navigate to the main menu and select Import Status.
- Choose your desired chain, property, status, and interface filters.
- The view will display detailed import information for the selected property.
Troubleshooting Missing Data:
- If data appears to be missing, use the search (magnifying glass) to drill down into the details.
- Compare the data received with what’s displayed in PMI.
- Check for potential issues like unmapped accounts or ignored figures.
- If discrepancies persist, consider performing a new import.
TKS hours not importing correctly
If the hours from your TKS are not importing correctly, make sure to verify the hours for the employees, ensure the hours are approved, and check that the employee is registered in the correct department.
Scheduled Horizon Misunderstanding
The Scheduled Horizon setting often leads to confusion. Adjusting it does not affect the import of hours from your Timekeeping System (TKS). It only determines how far into the future you can view data. If you’re missing data, the issue likely lies with TKS data or mapping settings, not the Scheduled Horizon. There are visual differences in the appearance of the Today and Scheduled Horizon lines, as described below:
Cockpit View:
- Day-to-day graph:
- Black dotted vertical line: represents today’s date (Today Line).
- Green dashed vertical line: marks the end of the Scheduled Horizon.
- Cockpit Table:
- Horizontal red line: indicates today.
- Horizontal green line: shows the end of the Scheduled Horizon.
Schedule View:
- Vertical red line: represents today’s date (Today Line).
- Vertical green dashed line: shows the end of the Scheduled Horizon.
Links:
Incorrect codes in TKS
Make sure the correct codes have been used in your TKS. If the hours are still not correct after the next import, there may be an error in the mapping – please contact your controller who will make the necessary changes.
Inability to edit data for a specific period
- Check the Period Locking Settings: This issue is often related to the period locking feature in the PMI system. When a period is locked, it prevents any changes from being made for that time frame. Check the period locking settings for the specific month to see if it has been mistakenly set to close.
- Unlock the Period: If the period for the specific month is locked, you will need to unlock it. This can be done by accessing the period locking settings in the PMI system. Double click on the padlock icon for the specific month to unlock the period. Note that you may need administrative rights to do this.
- Contact PMI Support: If the issue persists even after unlocking the period, or if you are unable to unlock the period due to lack of permissions, contact the PMI support team for further assistance.
Forecast discrepancies in cockpits
If the forecast data in the cockpit does not match the actuals, showing discrepancies in the Monthly To Date (MTD) usage, a potential cause is that a cost driver was not forecasted, leading the system to calculate zero forecast and only display actuals.
Steps to Resolve:
1. Verify Cost Drivers: Ensure all relevant cost drivers have been forecasted for the period in question.
2. Update Forecasts:
• Navigate to the forecast module.
• Ensure all cost drivers are included.
• Resubmit the forecast for the affected month(s).
3. Verify Correction: Check that the cockpit now displays the correct forecast and actual hours.
Adjusting decimal precision in the labor cockpit table
If you're having trouble manually entering decimal precision in the cockpit table, please review the settings in the Tools menu:
- Open Tools Menu: In the PMI Labor Cockpit, navigate to the Tools menu 1 .
- Access Settings: Click on "Settings" within the Tools menu 1 .
- Change Decimal Precision: Find the option for setting the number of decimals for hours. Adjust to your preference.
- Save Changes: Confirm and save your changes.
- Check Changes: Return to the Labor Cockpit to ensure your changes have been applied correctly.
If the issues persist, consider reaching out to PMI support for further assistance.