1) The following are helpful tips when overbooking a hotel except: a) Determine what guests would be more likely to cancel or no-show b) Check for events happening around your property c) Compare your property occupancy with your comp sets d) Understand your cancellation policies
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1) The following are helpful tips when overbooking a hotel except:
a) Determine what guests would be more likely to cancel or no-show
b) Check for events happening around your property
c) Compare your property occupancy with your comp sets
d) Understand your cancellation policies
2) When a hotel wants to improve its profitability, the first set of data to consider is the hotels:
a) Industry averages
b) Budgetary data
c) Historical data..
Please both questions answer?
Step by step
Solved in 4 steps
- Using the following information, forecast the rooms sales for the next three months for a 750-room lodging operation: Month Days Occupancy % Average Room Rate Month 1 30 65 $155 Month 2 31 80 175 Month 3 30 95 1852) When a hotel wants to improve its profitability, the first set of data to consider is the hotels: a) Industry averages b) Budgetary data c) Historical data...1) Describe a scenario that you have encountered recently as a consumer where a business has either under forecast or iver forecast demand for a product that you were planning to purchase. You will generally notice under forecasting if the product is out of stock or over forecasting if there is excess inventory for the item. Describe the imolications to the retailer,manufacturer, and broader supply chain. You can present your response through thr lens of your own discpline (accounting,mafketing,etc.) if you wish. 2) Give three examples from your life in which you may forecast the future. Highlight the importance of accurate forecasting in the three examples you provide.
- Exercise 5: Use the following provided information about sales to determine: a) Trend line b) Predicted value for 2022 Year Units sold 2015 100 2016 110 2017 122 2018 130 2019 139 2020 152 2021 164 To minimize the calculations, it would be better to transform the x value (time) in easier numbers. For instance, it would be better to name year 2015 as year 1, 2016 as year 2 and so on.When planes fly in cold weather, the planes need to be de-iced before liftoff. Why is thatdone? People who live in colder climates have seen the trucks put or sprinkle salt on the roadswhen snow or ice is forecast. Why do they do that?Smart Phone covers sales for the past 12 months is given below. Management forecast's for the months of March, April, May, and June are listed Month Unit Sales Management's Forecast Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 100 95 95 112 126 118 95 85 101 94 89 110 122 114 108 112 a) What is the MAD for the forecast developed by management sales (round your response to two decimal places) What in the MAPE for the forecast developed by management % (round your response to two decimal places). %3D
- If ABC Corporation has following historical data about sales volume: Years Sales Years Sales Years Sales Years Sales 2001 110 2006 99 2011 100 2016 110 2002 112 2007 101 2012 104 2017 111 2003 122 2008 95 2013 108 2018 109 2004 111 2009 98 2014 102 2019 114 2005 104 2010 96 2015 115 2020 112 Note: All the sale values are in thousands. Required: Which type of forecasting approach is suitable for this type of data? Which forecasting technique is best to employ in order to forecast the above data? And also define the suggested technique. Calculate the predicted values by employing the discussed technique in part (b) on the above data.Company: Accor Hotel Focus on industry-level data from Europe and UK Analysis Competitive forces in the Accor hotel industry (e.g. barriers to entry; intensity of rivalry between incumbents; threat of substitution…) Drivers of change in theAccor hotel The impact of external factors on the Accor hotel ConclusionWhat factors make forecasting at Deckers particularly challenging? Howcan forecasts be made for seasonal, fashionable products for whichthere is no history file? What are the costs of over-forecasting demandfor such items? Under-forecasting?
- What part does forecasting play in maintaining good customer order management?Define Tactical forecasts?A retail manager seeks a better way to forecast the demand for LED light bulbs. She believes the demand is related to advertising expenditure. The table below shows historical data for the past 5 months. A) Is there a relationship between sales and advertising? How strong or weak? B) The company will spend $1,750 next month on advertising. Determine the forecast for sales? Historical Data: Month 2 3 4 5 Sales 264.000 116.000 165.000 101.000 209.000 Advertising $2.500 $1.300 $1.400 $1.000 $2.000