Fidelio / IDS / Shawman

FIDELIO A Hotel Management System (HMS) Fidelio is a completely integrated system package designed to maximize the efficiency of the hotel. Fidelio is one of...

Types of forecast

Types of forecast TYPES OF FORECAST Front office may have several types of forecasting formats. Occupancy forecast are developed typically on monthly basis and are reviewed by...

Forecasting techniques

Qualitative methods: These types of forecasting methods are based on judgments, opinions, intuition, emotions, or personal experiences and are subjective in nature. They do not rely on any rigorous mathematical computations. Quantitative methods: These types of forecasting methods are based on mathematical (quantitative) models, and are objective in nature. They rely heavily on mathematical computations.

Types of budget and budget cycle

TYPES OF BUDGET 1- MASTER BUDGET – A master budget is a comprehensive projection of how management expects to conduct all aspects of business over...

Forecasting data

Forecasting Data The process of forecasting room availability generally relies on historical occupancy data. To facilitate forecasting ,the following daily occupancy data should be collected: ...

Factors affecting Budget Planning

FACTORS AFFECTING BUDGET PLANNING The following are the elements, which have an n, affects on the front office budget planning. 1.Accommodation: This is one of the...

What is Hubbart Formula, market condition approach & Thumb Rule

What is Hubbart Formula ? Hubbart Formula is also known as bottom-up approach to pricing rooms introduced by Roy Hubbart in 1940. This approach considers...

Refining Budgets, Budgetary Control

REFINING BUDGET If the actual operating figures and budgeted figures are distant from each other, then this suggests a refining or revision of our budget. revision...

Evaluating front office operations

Evaluating Front Office Operations A successful front office manager shall continuously evaluate the results of department activities on a daily, monthly, quarterly, and yearly basis....

Advantages & Disadvantages of Budgeting

ADVANTAGES & DISADVANTAGES OF BUDGETING ADVANTAGES coordinates activities across departments.Budgets translate strategic plans into action.Budgets provide an excellent record of organizational activities.Budgets improve communicationwith employees.Budgets improve resources allocation, because all requests...