forecasting

Total revenue forecasting in the hotel industry involves predicting the total revenue a hotel will likely generate over a given period

Forecasting has always been valuable for revenue managers. Given current uncertainty, it is so important to be able to predict and adapt to demand

Apo defines decision intelligence; outlines how data is only valuable when organised, analysed and acted on; why forecasting is not a one snapshot task

Above all, the task of a forecast is to map uncertainty. In a world where our actions in the present influence the future, uncertainty is opportunity

If you follow the steps highlighted, you should be able to organize a successful revenue management meeting that will help increase sales for your hotel

The outcome of your forecasting should always be the ability to react to market changes, optimise occupancy, and maximise revenue

We look at what impact the pandemic, technology adoption and staffing issues has had on forecasting, what we forecast and how often we review it

Restaurant forecasting helps restaurant owners make informed decisions for staffing, purchasing, profitability and helps foresee upcoming trends

We know previous hotel revenue management strategies can no longer be used as a guideline as the industry rebounds and restrictions continue to wreak havoc

Any hotel which maintained underlying principles of revenue management throughout the pandemic are stronger and poised for profit as travel ramps up