Today's Revenue Management thought:-

The good old crystal ball……. (part 2)

Hotel revenue forecasting is a crucial aspect of hotel management that involves predicting future revenue and occupancy levels to make informed decisions about pricing, marketing, and operations.

I generally tend to use two types of forecasting to keep things simple:-

• Revenue Forecasting: This is the process of estimating future revenue for a hotel based on historical data, market conditions, and other relevant factors. The primary goal is to anticipate demand and optimise pricing strategies to maximise revenue.

• Occupancy Forecasting: This focuses on predicting the number of rooms that will be occupied in the future. It is a critical component of revenue forecasting as it directly impacts room revenue.

You can of course choose to dive into other forecasting metrics.

Have a profitable week !

✌🏼