Features and Advice

21st Century Forecasting for the Travel & Hospitality Industry

May 20, 2021

Forecasting is a decision-making tool that helps businesses cope with the impact of the future’s uncertainty by examining historical data and trends. Businesses across every industry need to forecast components of their operations, and that is particularly important, and challenging, in times of uncertainty.

Actionable forecasts in the Travel and Hospitality industry bring particular value: how many guests will arrive and when, how to staff accordingly, adjusting inventory positions, modelling the impact of promotions/events on business performance, optimising pricing/revenue management, and projecting revenue/cash flow.

Forecast too high and the business will be inefficient with resources: likely buying too much product, facing potential spoilage or waste, while also missing opportunities to invest capital elsewhere.

Spotlight

Neilson Active Holidays

Traveling with partners, friends and families, sometimes the only thing you can all agree on is that you want a holiday. Some want to be busy, every single minute; whilst others like nothing better than chilling out for a week or two. So finding something to suit everyone isn’t as easy as it sounds. Unless of course, you choose Neilson Holidays for your next getaway.

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Spotlight

Neilson Active Holidays

Traveling with partners, friends and families, sometimes the only thing you can all agree on is that you want a holiday. Some want to be busy, every single minute; whilst others like nothing better than chilling out for a week or two. So finding something to suit everyone isn’t as easy as it sounds. Unless of course, you choose Neilson Holidays for your next getaway.

Events