Today's Revenue Management thought:-
Forecasting is shifting from predicting occupancy to predicting profitability. Here’s why you need to keep up.
Forecasting Will Evolve From Reactive to Predictive Personalisation
Traditional demand forecasting looks at market trends and past booking curves.
AI will enable a different game:
Hyper-local demand signals
Real-time booking intention analysis
Predictive modelling by guest segment and channel
In my viewpoint, this will elevate forecasting from “predict occupancy” to “predict profitability”.
Revenue leaders will need to:
Rethink KPIs
Embrace machine learning forecasting
Shift focus from how many rooms to which guests to acquire at what price
That’s a mindset shift worth embracing.
Have a profitable week.
✌🏼