Tag: forecasting
Forecasting Hotel Reservation Cancellations With Machine Learning
Forecasting the demand of hotel reservations is a key piece of setting strategic pricing and establishing inventory allocation practices. Managers can optimize overbooking limits,...
Finding Business in 2020: Capturing Demand in Beach Markets and Beyond
Since the pandemic’s low point in mid-March when COVID-19 began prompting shutdowns and travel restrictions in the United States, STR recorded just three instances...
RPT Launches Hotel Forecast Toolkit to Assist with Recovery
Sunnyvale, Calif. – Russell Partnership Technology (RPT) recently announced a toolkit to assist hospitality businesses in planning their recovery strategies. The toolkit is built...
Building an Accurate Forecast: The Lifeblood of Any Hotel Revenue Manager
Over the past 40 years, hoteliers have made significant progress in the field of revenue management. Revenue management is no longer just thought of...