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...