Complete a revenue forecast for the month

Attached is a forecasting sheet for XYZ hotel for the month of May. It is now March, and your average booking window for Transient is 30 to 45 days out. Taking the previous forecast as a starting point, please complete the forecast section based on the following assumptions:

  • Your forecast target for the month of May is to be at least 2.2% higher in revenue than your budget.
  • You just lost a big group for the month of May( 450 Room nights at $409 ADR). This will have a big impact on your revenue.( If you lost the group recently it means that this group was considered in your previous forecast. Make sure you reflect this loss in your forecast)
  • You have 100 Room nights at $320 ADR in tentative, which will become Definite by the end of March. This will help you mitigate some of the group loss. (assume this group was not considered in your previous forecast)
  • You just had a travel agent book your most expensive suite. 10 Room nights for $5000 a night( This will belong in Retail segment)
  • Assuming there is no more group activity that will close between now and the end of May, What other changes should you make in transient to mitigate for the group loss and still achieve your targeted growth.
  • Please explain your numbers in detail and how you will achieve them( ex. Launch promotions, packages, promote a discounted rate, etc) Remember you are currently within your main booking window. ( When you are withing your booking window you can make the most impact)

Please submit your detailed explanation to the numbers in a word document. Comment on your variance to Budget, to the previous forecast and actual 2013( this means your variance to last year) 

 Submit your explanations on a separate word document  in essay format following APA style guidelines( as mentioned on the Syllabus)

I have not included assumptions for last year; therefore you are free to include your own assumptions, just make sure you explain them thoroughly.


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