Great video. Simple and well explained. The concepts seem to apply to the airline industry in my opinion. The concepts learned can also be used in other businesses. The key takeaway here for me is that it's extremelly important for a company to capture any data that it can from customer data to weather to politics and combine everything to form an well versed assessment on where the revenues come from and how the company can use modern tools like AI and machine learning to help predict the best business strategy for the company
I was chatting up front desk night person last stay and she said she gets calls from other nearby hotels to check occupancy. Also the staff at the local Laquinta and Holiday inn get a bonus if they sell out. Best western did not.
Is there any material for reference as to how we can forecast ADR and Occ for new hotel considering its comset , demand, supply and other factors. Thanks
Hello Suraj, the STR report from Smith Travel, as well as some Hospitality reports from CBRE, and Agency 360 have good market data! Thanks for watching!
