forecasting

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

Welcome to another of our Coffee Time chats. Today we talk about the way Hotels Forecast and why the current method is wrong and outdated

Intelligent revenue management is not designed to replace human expertise. It is developed to help experts focus data insights that which affect forecasts

Revenue management has evolved from tactical to strategic and from rooms revenue to total revenue and profitability; F&B forecasting is the next frontier

Hotels are awash with valuable structured and unstructured data providing profitable insights that can help revenue managers create forecasts

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

Forecasting uncertainty is important for pricing and it’s important for the cost-benefit analysis that an RMS needs to make on behalf of the clients

Demand forecasting in hotels is nowadays crucial. But it isn’t easy. Which is why most hotels struggle to understand and predict guests’ behaviour.