Booking window
A booking window (also called lead time) is the period of time between booking a service and actually using it. In hospitality, a booking window shows how much in advance guests make their reservations.
It’s a crucial concept influencing pricing, availability, and booking patterns for flights, hotels, car rentals, concerts, and other events, activities, or services. For example, a hotel may offer lower prices for rooms booked far in advance to incentivize early bookings while gradually increasing prices closer to the arrival date as demand rises.
Companies analyze booking patterns, peak seasons, customer preferences, and competitors to establish the maximum booking window. It provides transparency and consistency in the booking process, helping customers plan their activities or service arrangements in advance.
By detecting trends within the booking window, businesses can anticipate occupancy levels, allocate resources effectively, and make informed decisions about pricing, staffing, inventory, and marketing strategies.