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As you begin working with
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you will be generating forecasts that are primarily based on reservation information. This information can be manually entered into
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or automatically entered through an interface with your reservation system.
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needs about 8-10 weeks of both actual and reservation data to accurately forecast future events. All systems require a consistent approach. Rooms forecasting relies upon regularity. The various types of information required for forecasting are interdependent, each being updated according to a specific schedule, sometimes at specific hours of the day. Without consistent and timely upkeep of the needed information, the histories maintained will not be valid for use in forecasting.
The reservations on hand at a particular time on a given day, are compared to the actual rooms subsequently occupied. These relationships form one of the key statistical bases used to project volumes for coming weeks.
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To this point, historical information has been organized relative to occupied rooms according to the following:
Market Segment:
Transient Market
- Analyzes by day of the week
- Analyzes pick up
- Analyzes by availability range
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