How does Revenue Management forecast occupancy patterns?
Occupancy patterns are forecasted using a number of tools; the first being what the occupancy was the year prior during a specific period of time. Next we look at the market trends in the area; are there generally more people coming to the resort this year than the prior year, are more people traveling this year? This is analyzed through different research reports, and by looking at the different demand patterns measuring call volume and website activity. Finally we look at special events, and large conventions and conferences that would potentially attract people to the resort in a different pattern. For example if a large convention or conference occurred then we would expect a higher occupancy during a similar event the following year.
