Overview on Forecasting Revenue in Thynk

Learning Objectives:

1. Understand why forecasting is important
   
2. Discover how your teams can Forecast Revenue in Thynk

What is Forecasting? and Why is it important in the Hospitality industry?

Forecasting revenue in the hospitality industry involves predicting future income based on historical data, current market trends, and customer behaviors. This helps businesses estimate potential earnings for Guest Room revenue and Non-Guest Room revenue (such as food, beverages, events, and other services).

Forecasting is crucial for managing operations, optimizing pricing strategies, and ensuring resource allocation aligns with demand. Accurate forecasts enable hotels to enhance guest satisfaction, maximize profits, and stay competitive by anticipating occupancy levels and adjusting offerings accordingly.

Forecasting Revenue in Thynk

For more information o forecasting and average checks, please refer to Thynk University! 👩🏻‍🎓 

Make sure that you have signed into the University from Thynk before clicking on the lesson link. 

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