Understanding Hospitality Forecasting

What is demand forecasting in the hospitality industry?

• Predicting the weather

• Estimating future customer demand for services

• Calculating the cost of food

• Designing hotel interiors

Which technique is commonly used for demand forecasting?

• Coin flipping

• Time series analysis

• Random guessing

• Colour matching

What does seasonal trends analysis help with in the hospitality industry?

• Predicting customer preferences

• Understanding peak and off-peak periods

• Designing new hotel rooms

• Cooking recipes

How can customer behaviour patterns be identified?

• By reading their minds

• Through surveys and feedback

• By guessing their favourite colour

• By watching TV shows

What is the main goal of revenue management strategies in hospitality?

• To increase the number of employees

• To maximise revenue and profits

• To reduce the number of guests

• To decorate the hotel

Which method is used for market research in the hospitality industry?

• Astrology

• Surveys and interviews

• Painting

• Singing

How do events impact bookings in the hospitality industry?

• They have no effect

• They can increase or decrease bookings

• They only decrease bookings

• They only increase bookings

What is a common tool used for analysing seasonal trends?

• A thermometer

• A calendar

• A telescope

• A calculator

Why is understanding customer behaviour important in hospitality?

• To make friends

• To improve service and satisfaction

• To learn new languages

• To build bigger hotels

What is a key component of revenue management?

• Setting room prices

• Painting walls

• Hiring more staff

• Planting trees