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Updated in [July 25th, 2023]
This course, 'Hotel Management Forecasting', is designed for students new to the hospitality industry or small business owners who want to learn how to accurately predict future sales. Forecasting is an essential skill for hotel managers and business owners alike, as it helps them to plan for the future and make decisions based on accurate estimations. Those with little to no experience in forecasting will benefit from this course, as it will provide them with the knowledge and tools to understand and apply complex strategies in a simple way.
Throughout the course, students will discuss the basics of forecasting and go over the steps needed to set up a simple forecast, an advanced forecast, and an elaborate time series forecast. By the end of the course, students will have a solid foundation and basic understanding of forecasting, including what it is, how to set up different types of forecasts, what data to use and how to structure it, and how to interpret the data.
Upon completion of the course, students will be able to calculate and understand concepts such as a baseline, seasonality index, regression analysis, and more. Enroll today to jumpstart your forecasting skills!
Course Syllabus
Introduction
The basics of forecasting
Basic forecasting techniques part 1
Basic forecasting techniques part 2
Introduction to advanced forecasting
The short term and long term forecast
The moving average forecasting techniques
Exponential smoothing forecasting
Introduction to time series forecasting
Time series forecasting
Outro
Q & A
