Maximize Revenue with Advanced Hotel Forecasting Techniques Leveraging Hotel Software
As the famous American author, John Steinbeck once said, “What good is the warmth of summer, without the cold of winter to give it sweetness?” The metaphor here is that contrast can make things better. Similarly, when it comes to the hotel industry, forecasting is the winter that can give the summer the sweetness it deserves. But how can you optimize hotel forecasting to make your hotel stand out in a sea of competition? Well, the answer lies in the intelligent use of hotel technology such as web-based hotel PMS . In this article, we’ll explore the various aspects of hotel forecasting and how technology can help you to optimize it to achieve success. But before we dive in, let’s take a quick look at some statistics. According to a report by ResearchAndMarkets.com, the global hotel and hospitality management software market size was valued at $5.41 billion in 2020, and it is expected to reach $13.99 billion by 2028. Another report by Grand View Research estimates that the web-b