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Updated in [July 25th, 2023]
This course, 'Advanced Forecasting for Hotel Managers', is designed for students who are new to forecasting in the hospitality industry. It provides an introduction to the basics and more advanced techniques of forecasting. Topics covered include what forecasting is, what is needed to make a forecast, why forecasting is important, how to make a simple, quick and effective forecast for a hotel, how to use historical forecasts to set up new forecasts, how to set up a forecast based on the booking curve, and how to define the accuracy of a forecast. Upon completion of the course, students will have a solid foundation and basic understanding of forecasting in the hospitality industry.
Course Syllabus
Introduction
The short term and long term forecast
The moving average forecasting techniques
Exponential smoothing forecasting
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