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Forecasting

Valeria Bonilla

Created on August 8, 2023

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Transcript

Forecasting

1. Improperly trained and inexperienced staff
Forecast
Challenges of the industry
Short-term
2. Lack of full, accurate data on which to base a proper forecast

Projection based on informati on available at the time of its preparation

Long-term
3. Changing market conditions
4. Poor understanding and use of hotel computer systems and capabilities
How can hotels handle forecasting?
Periods of time
Why is forecasting important?

Helps management to anticipate periods of demand and expect unit sales and revenue

Constrained
Demand
Budget
Unconstrained