In the hotel industry, having appropriate demand forecasts is crucial to profitability.
Thanks to the analysis of past and present data on occupancy and rates, the hotel sector can have a forecast of demand and specify which strategy or actions to follow in order to sell free rooms at the best price or increase occupancy.
Not only that, but they can also specify by which distribution channels will be more successful to sell them and with less commissions thanks to the simulation of business scenarios and predictive analysis.
The functionalities provided by Bismart's Hotel Management Dashboards solution cover from the processes for obtaining the data, to making forecasts with predictive analysis algorithms.
Obtaining data from own and external sources (occupation, Average Price Rate (APR), RevPar, Pick-Ups, reputation, events, weather, festivities, competition...)
Data analysis (e.g. behaviour in equivalent periods in the past).
Forecasting (predictive analysis of demand forecasts).
Scenario simulation (what-if analysis).
Monitoring of results.
And thanks to the what-if analysis, hotels can simulate their possible strategies (reduce rates, increase the availability of individual rooms, increase the number of rooms to a given channel...) and evaluate the results they would obtain to decide which of them is the most suitable.
Hotel Management Dashboards also helps to have an analytical vision that allows to optimize the rest of the hotel areas such as purchasing, human resources...