Hotels are hungry for more data to better predict future revenue performance, but information sources have been severely disrupted due to the impact of COVID-19. So, what should hoteliers do when they begin to doubt the data sources they have previously based key planning and decision-making around?
How to get hotel department heads to want to do their financial forecasts
Here are four tips to work on if you want to create the kind of environment that has your leaders and managers wanting to do their monthly financial forecasts, commentaries or budgets.
Out now: Revenue Management 2020 – eHotelier Industry Journal
Take a deep dive into the science and art of revenue management with the latest edition of the eHotelier Industry Journal: Revenue Management 2020.
What do MMA and forecasting have in common?
Like MMA, forecasting is an art form that morphs in real-time. There are triggers and clues to help guide you. Regardless of how well you prepare or how strong your team is: if you do not recognize change immediately you will lose
The importance of weekly sales forecasting
Forecasting enables the management team to focus on key sales issues and to take appropriate action and also enables them to calculate staff rosters which can have a huge impact on payroll costs.
