This article relates specifically to the Personal view options that are on the new view of the Rooms live forecast. This new view is currently in pilot phase with a number of properties. Read the article Live forecast tools and personal view...
What is PMI prediction in the Rooms live forecast? PMI provides an automated daily revenue forecast to allow for easy and accurate revenue forecast. It uses historical data to identify seasons and trends, and adapts to specific properties over...
Each week, the Rooms live forecast should be reviewed to ensure that the Live forecast for the coming weeks is realistic. This process consists of 3 simple steps: Review:Review the Live forecast at period level compared to the Forecast,...
What is the Rooms live forecast? The Rooms live forecast in PMI is a daily revenue forecast which allows you to forecast room nights and average room rate (ARR), which then gives you the total expected room revenue per day. It is a rolling...
What is the Copy (Submit) from Live forecast process? A forecast is used as a monthly revenue goal. Once set, it does not change. The Live forecast, however, is a rolling forecast, which is regularly updated with the most recent data available. ...
What is PMI prediction? PMI uses a combination of machine learning (ML) and statistical models to automate forecasting of revenue and units (covers, room nights, guest nights etc.). It uses historical data to identify trends (seasons) and adapts to...
What is Pickup and how is it used? In the Live forecast there is a column called Pickup. This is the column used to make adjustments to your Live forecast at a daily level. For room/guest nights, a positive value indicates an increase to the OTB...
Summary This summary helps you to get a quick overview of your bookings on the books for a certain period. Intended Users General Manager, Hotel Manager, Revenue Manager, Booking Manager, Front Office Manager, Department Heads and Regional and Head...
What is a revenue driver? A revenue driver is what drives the revenue of a department. For example, if more guests are staying at a hotel, the restaurant can expect to generate more revenue. There is often more than one driver that impacts revenue...
What are the tools in Live forecast? Available Tools and View Options will vary depending on your property’s Live forecast set up, the department you are viewing, and your user access rights. Pickup Statistics: Click here to review and analyse...
For Non-room revenue departments that have a daily OTB import in PMI, there is an option to use a combination of both OTB and driver-based forecasts to create the Live forecast. This is the recommended set up for departments such as Meeting &...
There are several ways to configure the Live forecast which will affect how the Live forecast is calculated. Changes are done using configuration settings via the tools icon in the top right corner of the screen. This is only visible to users...
What is the Live forecast? The Live forecast in PMI is a daily revenue forecast. It is a rolling forecast which should be updated daily depending on the latest expectations due to changes in the market, new reservations, cancellations, etc. A Live...