Hotel Forecast Model and Tool

According to your yield opportunities and hotel revenue management strategy, you may decide of a more or a less developed forecasting tool. You may also consider hotel revenue management consulting. Here some examples of hotel forecasting tools in excel.

Note that forecasts are not perfect. It is a strategic and revenue management tool. A basic forecast is better than none. It is the path to market and customer knowledge. It reinforces your pro-activeness in terms of inventory and rate management.

Your forecast module can help to forecast the double occupancy, the number of arrivals and departures: useful for the front-desk and housekeeping. On the basis of your forecasted number of nights by segment, you can anticipate the number of guests: it helps housekeeping to forecast their costs, and the restaurant the number of breakfasts. The forecast can help revenue managers and hoteliers to prevent and identify challenges in reaching your objectives: it gives time to adapt strategies or work out additional actions.

The forecast can help to identify low demand period: you can develop it as a communication tool taken over by sales department to focus their efforts on sales.

As an experienced hotel revenue management consulting company, we have helped many hotels worldwide to boost their revenue. Ask us for more information

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Basic Forecasting Model

basic_hotel_forecast_model

Advanced Hotel Forecast

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About the Author: Patrick Landman

As CEO and Founder of XOTELS, Patrick Landman has made it his mission to turn hotels and resorts into local market leaders. XOTELSยด diverse expertise and deep-knowledge across revenue management consulting, hotel management, and hotel consulting, enables us to drive results for independent boutique hotels, luxury resorts, and innovative lodging concepts. Below you will find opinion articles written by Patrick Landman.