Today's Revenue Management thought:-
All hotels want to generate more sales, and this is why we invest in tools and strategies to achieve such a goal.
There are however a few common mistakes we all make in forecasting
Basing our business decisions on gut feeling
Basing our decisions on limited or conflicting data
Failing to be flexible
That said, it’s still important to recognise that a sales forecast can’t accurately predict the future. But avoiding the mistakes, as well as applying best practices will help you boost confidence in your predictions, helping you avoid disappointment if reality and your forecast don’t meet.
Have a profitable week.
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