Forecasting Rooms (Hospitality)
Forecasting Rooms (Hospitality)
Hospitality Sales & Marketing Association International have developed a full training program for hotels & accommodation businesses and people looking to grow their careers in revenue management. 100% Online courses and some optional face-to-face workshops.
Hotel rooms are perishable goods with a shelf life of one day, so it is important for hoteliers to maximise their value. The clearer the picture you have of demand, the better you can prepare accordingly in many phases of operation, from staffing to marketing to pricing. Forecasting demand for your rooms allows you to identify needs and build a strategy based on projected occupancy. Forecasting is a complex discipline and can be overwhelming at first, and it can be easy to learn when broken down into simple steps. With an accurate forecast, hotel management will have a good understanding of their performance goals in terms of occupancy, rate and overall rooms revenue. For example, if a popular event in the area brings a number of new guests to the door, forecasting helps hoteliers understand how to set prices to maximise revenue. In addition, your forecast will determine when it is necessary to lower rates to boost occupancy on days with lower demand.
Modules
A forecast is a tool used to run a hotel more effectively and profitably.
You will learn
- What are the different types of forecasts?
- What are the objectives for each of the types of forecasts?
- What information do I need to put a forecast together?
- How do I find this information?
- What questions should I ask when putting together a forecast?
- How often should I be adjusting the forecasts?
- What are the steps that I need to follow to put the forecast together?
- What is the difference between unconstrained and constrained demand?
- What are the elements of an accurate forecast?
- How to forecast during a pandemic, and why you should forecast!
Assignments/Tests
All courses are tested by quizzes throughout the course.
What will I learn?
You will learn
- What are the different types of forecasts?
- What are the objectives for each of the types of forecasts?
- What information do I need to put a forecast together?
- How do I find this information?
- What questions should I ask when putting together a forecast?
- How often should I be adjusting the forecasts?
- What are the steps that I need to follow to put the forecast together?
- What is the difference between unconstrained and constrained demand?
- What are the elements of an accurate forecast?
- How to forecast during a pandemic, and why you should forecast!
<ul>
<li>Those pursuing the HSMAI Revenue Ready “Certificate in Revenue Management (Hospitality)”</li>
<li>This course can be a standalone course for People wanting to learn about the methods hoteliers can use to forecast their room bookings. You could be an asset owner, management company, holiday rental agent or hotelier wondering if it’s worth investing funds into revenue management systems.</li>
<li>This course serves as a learning base for those who wish to do further study on revenue management to get into a revenue role;</li>
<li>People just starting in the revenue department will benefit from learning how revenue people can influence booking volumes at their property.</li>
<li>Vendors or partners in the travel & tourism industry interested in how accommodation suppliers plan their business volume.</li>
</ul>
<p>Email us at ecert@edvantageinternational.com for more information<p>
<p>We provide a One-Stop-Shop solution servicing all your needs from</p>
<ul><li>Admission application</li>
<li>Tuition fee payment, </li>
<li>Visa application (for your next On-campus course),and</li>
<li>Other destination services - insurance, forex, accommodation arrangement etc.</li></ul><br>
<p>through our parent company EdVantage International Consulting Limited. </p><br>
<p>Enjoy FREE or Discounted services when you book through EdVantage E-Cert!</p>
<p>Book your Foundation or Pathway course today on Edvantage E-cert.</p>
The Hospitality Sales and Marketing Association International (HSMAI)
About Us
The Hospitality Sales and Marketing Association International (HSMAI) is committed to growing business for hotels and their partners, and is the industry’s leading advocate for intelligent, sustainable hotel revenue growth. The association provides hotel professionals & their partners with tools, insights, and expertise to fuel sales, inspire marketing, and optimize revenue.
HSMAI Academy is the most comprehensive and ambitious initiative in the realm of education for hospitality sales, marketing, revenue management and leadership, entailing a range of course offerings and learning experiences online, face to face workshops, certifications and qualifications.
Our courses offer specialised content to help you fuel sales, inspire marketing, and optimise revenue. Every aspect of the content and support material included in HSMAI’s programs have been specifically designed and developed for those involved in hotel sales, marketing, and revenue management, including a wealth of subject matter appropriate to individuals with responsibilities ranging from entry-level to advanced.
Explore our webinars, publications and online learning in your HSMAI Academy.
Highlights/Why us?
WHY SHOULD HOTELS CHOOSE HSMAI FOR TRAINING
- Created by hoteliers
- Online, Face-to-face and blended options
- Globally recognised certifications
- Non-profit means tailored for you
- Endorsed by industry leaders
- Short, interactive, online courses
- Workshops
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