FORECASTING & BUDGETING
Accurate and realistic budgeting and forecasting are the foundation of revenue management and pricing. Short- and long-term planning can vary greatly; understand the “why” and its influencing factors.
+ online pre- and postwork
8 – 18
Note: this training is also available as an incompany training. Click here to request information or contact our global support office at +31 (0)23 – 510 0 510.
The program opens the door to a detailed set of forecasting tools and methods that enable the Revenue Manager to accurately predict when the hotel has a chance to earn higher than normal revenue from sales. The participants will learn how to create a demand based forecast that helps the hotel to manage the pricing strategy. The participants will be able to gain insights on the value that forecasting has on the strategies and perfomance of the Hotel.
THOSE WHO HAVE KNOWLEDGE, DON’T PREDICT. THOSE WHO PREDICT, DON’T HAVE KNOWLEDGE
WHAT WILL YOU LEARN?
Understand the importance of both Forecast and Performance Analysis as tools to strategically manage and monitor the hotels revenue optimization process.
Understand the demand forecast and its derivations.
Understand the impact of unconstrained demand on forecasting.
Understand the room forecasting process.
Understand the key metrics and the importance of performance comparison.