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 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...
Types of Rate Codes used in hotels
Hotels always have more than one rate code category for each room type. Room rates categories generally correspond...
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...