forecasting

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

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

Ongoing vaccination rollout is sure to improve sentiment leading into the Spring and we expect to see more reopening again as restrictions ease

There’s an acute need to look at every dollar within this year’s budget and medium-range forecast, focusing on keeping cash burn down

While forecasting methods are under the spotlight, hotel financel leaders should seize the opportunity to roll out smart practices and tools

By focusing on demand forecasting, we can establish price customisation strategies, working from a Customer-Centric Revenue Management view