It is essential for Revenue Managers to forecast demand by carefully analyzing multiple parameters such as fleet type, season, location, etc.
In this discussion we consider how data analysis can go beyond business intelligence and forward looking data and explore predictive algorithms through AI
Demand forecasting in hotels is nowadays crucial. But it isn’t easy. Which is why most hotels struggle to understand and predict guests’ behaviour.
As your forecast evolves predicting demand over a certain period, it is crucial to assess the new customer’s behaviour patterns which can impact occupancy
We look at cost implications and revenue opportunities these create and how, by understanding breakeven and modelling, you can see if they are profitable
In this episode we touch on Hotel Breakeven, what it is, why it’s important and how can it help you model revenue strategies as we plan for the recovery
Your RMS can be used in many creative ways to help your hotel survive the ongoing pandemic, no matter how demand changes over the coming months