Forecast
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      Forecast report

      The Forecast Report provides a detailed overview of historical and current performance, helping you create accurate forecasts using both automatic and manual inputs.

      The Forecast Report in RevControl provides a comprehensive overview of historical and current performance data, enabling you to create accurate forecasts. This report consists of several key sections: Historical Actuals, Historical Business on the Books (BOB), Current BOB, Budget, Automatic Forecast, Manual Forecast, Events, and Weather.

      Where to find it?

      You can find the Forecast Report under Reports > Forecast in RevControl.

      What do you see in the Forecast Report?

      1. Historical Actuals:
        This section displays the actual performance data from the selected period last year, including occupancy, room nights (RN), room revenue (Rev), and average daily rate (ADR).
      2. Historical BOB:
        Here, you’ll find the BOB data for the same period last year, allowing you to compare the current booking status with what was on the books at the same point last year.
      3. Current BOB:
        This section shows the current BOB for the selected period, including occupancy, RN, Rev, and ADR.
      4. Budget:
        The budgeted figures for the selected period are displayed here, allowing you to compare current performance against budget targets.
      5. Automatic Forecast:
        RevControl generates this forecast automatically by comparing this year’s BOB with last year’s BOB and actuals. If this year’s BOB is lower than last year’s, the automatic forecast is adjusted downward, and vice versa.
      6. Manual Forecast:
        Revenue Managers can manually adjust the forecast, overriding the automatic forecast generated by RevControl. If a manual forecast is entered, it will be used for price recommendations instead of the automatic forecast, allowing for greater flexibility in response to specific market conditions.
      7. Events:
        Displays both current and last year’s events that may impact performance.
      8. Weather:
        Displays both current and last year’s weather conditions, providing context for the forecast.

      How to use the Forecast Report?

      • Select the Period: Choose the period you want to analyze. The report will display data for this selected timeframe.
      • Compare Data: Review and compare data across historical actuals, historical BOB, and current BOB to identify trends and discrepancies.
      • Adjust Forecasts: Use the manual forecast option to adjust the automatic forecast based on your insights and knowledge of upcoming events or market conditions. The manual forecast will then be used for price recommendations.
      • Analyze Events and Weather: Consider the impact of events and weather conditions on your forecasts and adjust accordingly.
      • Export Data: You can export the report to Excel for further analysis or record-keeping.