FORECASTING ROOM AVAILABILITY
FORECASTING ROOM AVAILABILITY
Forecasting room availability is forecasting the number of rooms available for sale on any future date. This type of forecasting helps manage...
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...
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...
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:
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