Great day. Loved it! Great course. So useful!
No more fudging around with excel. I have the toolkit and look forward to using it
I was reluctant to take a day out of the office as we are mid budgets - but I know I will save so much time in the long run. Thank you!
What you’ll learn
Why should you attend this course?
This course is designed to
- Uncover the dynamics of demand generation and demand management
- Discover what information and data are required to create a robust demand forecast
- Demonstrate how to construct a forecast in Excel for your hotel and use this to create a solid manual forecast
- Enable you to interpret a forecast, and managing accuracy and inaccuracy in forecasting
- Provide you with the necessary skills to communicate effectively the results of a forecast to the team
What will I learn and gain from attending this course?
- The principles of demand forecasting
- Understanding the forecast as a management tool and what it can be used for.
- How to collate pick up, pace and revenue data
- Using past present and future data and the relative importance of each timeline into day of arrival
- Forecasting by pick up pace and revenue
- Building booking curves and using these to interpret future demand by day type
- Determining arrivals and departures to creating more time to action strategies and address potential issues in inventory or rate management.
- Forecasting exercises including managing groups and group wash
- Working with probability – an introduction
- Useful Excel tools including TREND, FORECAST and MOVING AVERAGE
Who is this course suitable for?
As a building block for developing future revenue management capabilities this course is for the following personnel:
- Revenue Manager
- Reception / Front Office
- Reservations staff
- Event Sales & Marketing staff
- General Manager & Assistant General Managers
- Food & Beverage Managers
- Commercial Managers