Pace Report: A 'business' point in time comparison between a date range from today forward, comparing to the same range last year (Today's Date with a Future Range Comparing Last Year)
The Pace Report is used as a sales analysis of your future occupancy, ADR, REVPAR, arrivals, etc and then that same logic to compare to the same period last year. The 'pace' for this year is un-known, as we use Bookings with Rates as entered, including Hard Group Allocations, and not Folios posted with RENT. As a result, many of 'this period' bookings will modify, cancel, etc before becoming actual Revenue. Since we include Hard Allocations in any of your Group Bookings to reflect that these will likely be picked up as Bookings. But of course, some of these Hard Allocations to your Group Bookings will not result in actual bookings, let alone RENT postings.
The report then analyzes 'Last Year' using the same logic, what your 'occupancy forecast' would have been had you run it from that date last year. Note, we don't use 'Hard Allocations' from the 'last year' period, as those Hard Allocations would have been released else booked as actual Bookings.
The 'Compare' section of this report then lets you easily see how you are differing in this year's pace compared to last year at the same time.