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UNIT4: Forecasting, It is important to keep track of your fore - Coggle…
UNIT4: Forecasting
Tips for forecasting
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Break down your forecast per segments (origin, distribution channel, business, leisure, groups, room type)
- Pick up and basic forecasting methods
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PICK UP
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Can be computed on any of the KPIs (occ, adr, revpar)
DAILY PICK UP
is the difference between the reservations for a given day D that we have on the book (OTB) on a given date A ant the reservations we had for that same day D on the day before day A.
Group forecasting
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Group whas is defined as the difference between contracted and blocked rooms for a group (do not expect the group will use all the rooms)
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- The importance of forecasting in Rev Management
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With an idea of what's going to happen you can make more informed decisions and adjustments to maximize rev.
Levels of forecasting
Strategic forecasting
- Forecast long term dynamics
- Demand to destination, room supply at destination, destination atractiveness.
- Strategic forecast of the RevPar, ADR, OCC
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- Measurement of forecasting deviation
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