Forecasting and Availability Controls in Hotel Revenue Management

Sample Screenshot

empty cart Shopping Cart

Your shopping cart is empty.

Course Description PDF

Course Focus

All successful revenue management strategies are based on the ability to forecast demand accurately, as well as control room availability and length of stay.

This course explores the role of the forecast in a comprehensive revenue management strategy, including the selection of the best type of forecast and the impact of forecasting on other functions such as labor scheduling and purchasing. It presents a step-by-step approach to the mechanics of creating an accurate forecast. Participants learn how to build booking curves; account for “pick-up”; segment demand by market, group, and channel; and calculate error and account for its impact. The course also explores the impact of availability controls, including length-of-stay management, on revenue management and how they can be leveraged.

Participants use Microsoft Excel to practice forecasting and availability control techniques.

Who Should Take this Course?

This course is designed for hospitality managers, general managers, revenue managers, and other hospitality professionals responsible for the financial performance of their organization.

Key Benefits

Participants who complete this course will be able to...

  • Explain the role of forecasting in hotel revenue management
  • Create a forecast and measure its accuracy
  • Apply length-of-stay controls to their hotel
  • Manage availability and make rate recommendations based on demand patterns

Topics Include

Module 1 - Creating a Forecast

  1. Accurate Forecasts Count
  2. Forecasting Step by Step
  3. Forecasting for Markets and Groups
  4. Forecasting Error

Module 2 - Controlling Availability

  1. Rate Recommendations
  2. Length of Stay

Faculty

Course Cost US$769
Hours to Complete Course: 6
CEUS earned 0.6
This course is part of one or more online certificates:

Please choose from the following course start dates:

19 December 2018
02 January 2019
16 January 2019
30 January 2019
13 February 2019
27 February 2019
13 March 2019
27 March 2019
10 April 2019
24 April 2019
08 May 2019
22 May 2019
05 June 2019
19 June 2019
03 July 2019
17 July 2019
31 July 2019
14 August 2019
28 August 2019
11 September 2019
25 September 2019
09 October 2019
23 October 2019
06 November 2019
20 November 2019
04 December 2019
18 December 2019
Powered by eCornell Logo
phone chat