Baltic Journal of Economic Studies (Sep 2024)
REVENUE FORECASTING SCENARIOS FOR INTERNATIONAL HOTEL CHAINS
Abstract
The purpose of the study is to develop a system of balanced scorecards for forecasting the income of hotels belonging to international chains. The subject of the study is the system processes of evaluating the effectiveness of the management analysis system, which are determined on the basis of calculating key performance indicators, and as a result of the integral indicator through the analysis and aggregation of individual functional criteria based on comparison with the reference values of the revenue management model for pricing, load planning and its redistribution between revenue centres. Methodology. The study uses the methods of theoretical and logical generalisation. The article describes a set of strategies and tactics used by international hotel chains to manage the demand for hotel services. The results of the article are to form a model for conducting a detailed operational and financial analysis of the hotel enterprise by revenue centres, which contributes to the development of a strategy. The authors have selected a set of indicators that are used to ensure a balanced approach to measuring performance through the indicator method and visual representation in a graphical representation. The paper analyses the performance of international hotel chains over twelve years in order to assess the impact of key factors on their revenues and develop forecasts; the estimated indicators were classified into seven groups: assessment of the average daily revenue per room, room cost, occupancy rate, market share, staff productivity, resource intensity and digitalisation costs. The publication uses the example of international hotel chains to clarify the content and importance of revenue forecasting in the revenue management system.
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