Accuracy of your Hotel Forecast
A variance can also be caused by an incorrect on the books; before extracting your on the books, ensure that:
- The segmentation is correct
- Review all your definite groups. Evaluate the possible increase or decrease of the block. Ensure room blocks are well updated
- Evaluate your group tentative and apply a materialization factor
- Verify you do not have duplicate bookings
- Ensure that you do not have pending reservations not entered yet in the PMS
- Take out oversold rooms on expected cancellations and base your forecast on the number of rooms available to sell
- Every room block and reservations are attached to a correct rate or rate code.
The accuracy of your forecast is the key to profitability or GOPPAR of your hotel. Other departments depend of it. Therfore we set the bar even sharper, and only allow ourselves a maximum of 3% variance.