Hotel management forecasting techniques
Hotel forecasting
Description
This course 'Hotel management forecasting' is based towards students who are new to the hospitality industry or are small business owners who want to learn how to predict future sales in an accurate manner.
Forecasting is one of the most important things you can ever learn as hotel manger or business owner in general. It helps to set your business up in a proper way for the future and make decisions based on accurate estimations. Whether you need to figure out how much products you'll sell, rooms you'll rent or how many costs you'll be making, forecating is the technique to help you figure all that out.
If you have little to no experience when it comes to forecasting this course will help you understand and apply a complex strategy in a simple way.
Together we will discuss all the basics of forecasting and go over the steps needed to set up a simple forecast, a more advanced forecast and an elaborate time series forecast. By the end of this course you will have a solid foundation and basic understanding of; what forecasting is, how to set up different type of forecasts, what data to use and how to structure it and how to interpret the data.
When you've finished this course you'll be able to calculate and understand things like; a baseline, seasonality index, regression analysis and more.
So jumpstart your forecasting skills today!
What You Will Learn!
- Simple forecasting techniques for hotels
- Advanced forecasting techniques for hotels
- Time series forecasting techniques for hotels
- Estimating the number of sold rooms in a specific period
- Using historical data to estimate the number of sold rooms in a specific period
- How to project future sales
- How to set up a simple forecast
- How to set up more advanced forecasts
- Long term forecasting
- Short term forecasting
- Forecasting based on the booking curve
Who Should Attend!
- Beginner hotel managers
- Hotel managers
- Revenue managers
- Bed and breakfast owners
- Rooms division managers
- Manager of establisments that sell/rent space like rooms, seats and more