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

Insta Tourism Pvt. Ltd.

One Stop Solution Company - Travel and Events Insta Tourism is offers a comprehensive range of products pertaining to every aspect of Events and Travel in the subcontinent and anywhere around the globe, to suit every budget. Insta Tourism Pvt Ltd has been one of the leading MICE providers to the Financial Industry in India.

OTHER WHITEPAPERS

How Supports Airbnb Sustainable Travel In Europe

whitePaper | October 31, 2022

This report shows how updates introduced by Airbnb are diverting bookings away from Europe's busiest tourist hotspots towards lesser visited areas and extending the dispersal of tourism that started with the pandemic.

Holiday digital marketing For the travel and tourism industry

whitePaper | December 16, 2019

The holiday season is quickly approaching, it’s essential that your destination or your hotel have the right Digital Marketing strategy guidelines laid out to boost engagement, visits and direct bookings.

The force of change in the travel experience

whitePaper | March 10, 2022

The pandemic forced travelers—en masse—to shift their expectations completely and more rapidly than we’ve seen at any other time in history. It changed the playing field around travelers´ behaviors and habits, and caused them to rethink their personal purpose and reevaluate what’s important for them in their life. When it comes to travel, people care less about the way things were, and more about what they want from travel experiences now and into the future

RESTARTING INTERNATIONAL AIR TRAVEL WITHIN ASEAN

whitePaper | June 24, 2021

In the six months since the white paper was initially written, the ten Southeast Asian countries which comprise the Association of Southeast Asian Nations (ASEAN) have continued to experience passenger traffic declines that are sharper than the global and AsiaPacific averages.

The Future of Travel Mobility

whitePaper | October 1, 2022

As international travel recovers from the impact of a global pandemic, there are significant new opportunities ahead for the travel mobility market. Beyond expanding roaming services, 5G networks and eSIMs are just some of the solutions shaping the future of travel mobility

Scaling NDC for the digital travel players

whitePaper | July 22, 2022

IATA is also aware of the “scalability challenges in the leisure market”. Many of our Airlines, Online Travel Agencies, MetaSearch Engines and other Leisure Travel partners have called on Amadeus to find solutions to this. Others have devised their own, and we are seeing some very innovative workarounds in the market.