forecasting

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.

Forecasting is important because we need a current plan to help us execute our financial strategy. Without a map any road will take you where you want to go

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