Hidden Costs of Inaccurate Reporting in Hotels
Hidden Costs of Inaccurate Reporting in Hotels
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Forecasting is not just about the prediction of hotel performance. It involves skilled operation and revenue managers who analyze a combination of data sets to interpret and make informed decisions. Therefore, it is the key driver for price and inventory management decisions. An inaccurate forecast may lead to poor management decisions and potentially reduced profit margins. An accurate forecast of hotel occupancy and room revenue, however, empowers the hotel/revenue manager to adjust price strategies based on demand (yield) with the aim to maximize revenue and minimize costs.

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