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Demand Forecast for Hotels

Enhance Hotel Profitability: Transform Forecast Accuracy into Increased Margins.

Make strategic decisions about room availability and pricing within fixed room capacity constraints.
 
Our goal is to enhance demand prediction using comprehensive internal and external data.

Case Study - Hotel chain
50 hotels in Europe. 6,000 rooms. $150 annual revenue. Avg price per room: $75

Forecast error
reduction

+15% better

2018: 35%

2019: 20%

Revenue attributed to Demand Forecast

+$7m. increment

2018: $145

2019: $152 

Profit attributed to Demand Forecast

+$2m more

2018: $13m

2019: $15m

Keys

Tailored predictive algorithms

At Beforecaster, we seamlessly combine human expertise with cutting-edge machine learning to deliver superior results. Our algorithms are meticulously designed, grounded in the belief that precise forecasting is a strategic business asset. Our multidisciplinary team collaborates to provide accurate and actionable forecasts, empowering businesses to make informed decisions. In today's data-driven landscape, our fusion of human intelligence and machine learning sets us apart, enabling strategic planning and business optimization. Partner with Beforecaster to unlock the potential of forecasting for success.

Strategically Accessing the Appropriate Data Sources

Our methodology hinges on the meticulous analysis of various data streams, from historical demand data to intricate factors like weather, events, epidemics, and transportation prices. We understand that comprehensive data utilization is the bedrock of accurate forecasting and effective decision-making. By integrating and processing this array of data, we empower businesses with robust insights, enabling them to proactively adapt to market dynamics and optimize operations, thereby maintaining a competitive edge. Embrace the power of diverse data sources for informed strategies.

Minimizing Forecasting Inefficiencies and Waste

Recognizing that prediction accuracy relies not only on data but also on the quality of forecasters, we employ a rigorous evaluation process. We systematically assess various forecasting elements, identifying and addressing subpar components. By optimizing or removing these elements, we refine our models for more dependable insights. Our commitment to excellence ensures clients receive precise, valuable forecasts, empowering informed decisions and a competitive edge in today's dynamic landscape. Partner with us for exceptional forecasting results.

Continuous updates

In today's dynamic business landscape, static predictions are inadequate. Our forecasting models are designed for real-time updates as new data emerges, ensuring your insights stay current. Moreover, our system triggers alerts for significant data changes, empowering proactive decision-making. This real-time capability enables businesses to adapt swiftly to evolving conditions, seize opportunities, and manage risks effectively. Partner with us to gain a competitive edge through dynamic forecasting and timely alerts.

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