According to your yield opportunities, you may decide of a more or a less developed forecasting tool. You may also consider Computerized - Revenue Management System. Here some examples of hotel forecasting tools in exel.
You should aim at 5% maximum (+/-) variance for the next month, variance between your forecast and the actual results. Take the time to analyze the variances to understand, learn and improve your hotel forecast.
What elements and influences should you consider when making your hotel forecast? What could affect the pick-up and booking trends of your hotel?
How can you control the impact of high demand days on should dates? What kind of stay restrictions should be implemented? How san I use my systems to gather data to help me make better revenue management decisions? What revenue management action steps to take so you answer these questions easily...