To get your non-financial managers to play ball with their numbers in your hotel you need a system that they can follow, a sort of road map they can use to stay on track every month. Teach them this and you will have an engaged team that buys into playing their financial part.
The key EMEA market of Dubai forecast is revised upwards amid improved changing global conditions.
A closer look at three main reasons why forecasting is crucial for the success of a hotel and why accuacy is as important as achievement.
The probability of the hotel industry being in recession has been in a range between 40% to 46% in the last seven months indicating that the industry is in a major slowdown near the borders of the recession.
The U.S. hotel industry is projected to experience continued performance growth through 2017, albeit at a slower rate, according to STR and Tourism Economics’ most recent forecast
Sixty-five percent of attendees at a summit of hotel professionals forecast six percent or more revenue growth, but they acknowledge oversupply and new competition as ongoing concerns.
e−forecasting.com's HIP - a predictive analytic which gauges monthly overall business conditions for hotels - stalled, posting a nil growth rate in April after an increase of 0.1% in March.