The Catering Pace Report combines Budget Pace and Production in one report. It summarizes Definite and Tentative revenue throughout the filtered year. Definite Revenue can easily be bench-marked on a monthly basis against:
Your annual budget
Last year's Revenue
This report is useful for:
Financial performance: By comparing the current pace to the budget, you can get a sense of how your event is performing financially and whether you are on track to meet your financial goals. This can help you identify any issues or areas where you may need to take corrective action.
Trend analysis: By comparing your event production to last year's actuals, you can get a sense of any trends or changes in demand for your event. This can help you make informed decisions about future events and identify any potential opportunities or challenges.
Resource planning: By knowing your current pace and comparing it to the budget and last year's actuals, you can better plan your resources and allocate them in a way that maximizes efficiency and effectiveness.
Goal setting: By tracking your progress and comparing it to past performance, you can set more realistic and achievable goals for future events.
Ensuring your team is staying at/or below your catering budget
Determining if your sales team is pacing or exceeding your Revenue from the previous year
Overall, a report showing the current pace relative to budget and comparing event production to last year's actuals can provide valuable insights and help you make informed decisions about the management and planning of your events.
Revenue is based on Menu Items and all of the Revenue summaries are broken down into your own Revenue Categories. If you prefer a broader reporting, we recommend Summarising by Revenue Group.
If this option is selected, the report will be broken down by Revenue Groups:
Food
Beverage
AV
Room Rental
Miscellaneous
How to Use The Catering Pace Report
Click on Reports in the side navigation
Click Catering Pace
Select Filters
Optional Choose to Summarize by Revenue Group
Export to HTML or PDF
Important Considerations
The report recognizes Definite revenue as a comparison to Budget. The Budget must be entered into the system to display variances and to monitor pacing same time last year.
Catering pace revenues is excluding taxes. Service Fees are also excluded.
If sourcing by Event, revenue is based on the Event Date. If an Event is over multiple days, it'll split the revenue evenly over each day.
If sourced by Booking, revenue is based on Booking Date. If a Booking is over multiple days, it'll split the revenue evenly over each day.
Additional Information