Improving hotel forecasting is critical for effective planning and quick decision. Your goal is to avoid what we call the curse of “inaccurate forecasting.” The more accurate hotel room forecasting you have, the better you can strategize across marketing, operations and pricing. In fact, an improvement of 10% in forecasting accuracy can result in an increase of 1.5% to 3% in revenue generated from a revenue management system.
The infographic below outlines the reasons why your hotel needs a stronger room forecasting mechanism. To view or download this infographic in full resolution, click here.
Do let us know what hotel forecasting mechanism do you use at your hotel in the comment box below.