Seasons in PMI are automatically defined periods that group together historical dates with similar booking behavior or activity levels. They help PMI make accurate forecasts by comparing upcoming dates with past periods that behaved in a comparable way. How Are...
Covers are the number of guests served in restaurants, bars, and M&E at some properties. Please note that beverages are not commonly counted as covers.
A red triangle is related to the revenue driver. It highlights that for a specific segment, PMI does not have enough seasons or historical data to calculate the revenue driver. In this case, PMI looks at the last 50 days to give a suggestion. If you have a new...
PMI imports on the books figures from your PMS system every morning. There could be several reasons why the figures do not match: Future on the books figures have been adjusted in your PMS after it has been sent and imported to PMI. The recent changes will not be...
A revenue driver is used to forecast/predict revenue or covers in a profit center. A revenue driver looks at what drives the revenue or level of activity in a department. Different departments can have different revenue drivers such as guests, rooms, and revenue. When...
Outcome vs Historical For future dates, the pickup column displays the difference between on the books/Revenue driver and the last saved Live forecast. In the pickup column, you can revise or adjust how many rooms/covers/revenue you expect to end up with each day,...
There are three ways to enter labor costs: In the budget and forecast module, on the far right-hand side of a labor department, you can enter the expected average rate per hour. This will amount to a total labor cost depending on expected/worked hours. You can work...
The budget should be uploaded/entered once a year while the Forecast should be updated every month. Below are some steps on how to update the budget or Forecast: Uploading your budget and Forecast – Upload actuals, budget and forecast is a helpful article for...
A good way to set a productivity goal (target) is to use last year as a reference and see if you can achieve similar or better productivity this year. Budget is also a reference, as we don’t want to be less productive than what we have budgeted. This would negatively...
Some departments (operational) have productivity as their main target, so when the cost driver changes, this will give the department more or fewer hours, depending on the latest Live forecast. Some departments have hours as their main target (admins) so even if...