Case Study: Hotel Occupancy Forecasting’s Big Payoff - Machine Learning Times - machine learning & data science news
Machine Learning Times
Machine Learning Times

3 years ago
Case Study: Hotel Occupancy Forecasting’s Big Payoff

 This Predictive Analytics story started with a question as most Predictive sojourns do. During a process improvement project meeting for a national resort company a question was posed; how much could the company save with an improved occupancy forecast? Accurate occupancy forecasts are vital for resorts as staffing is determined from this forecast. The current forecasts were on average 3.5% over/under the actual occupancy. This caused the company to under/over staff by nearly the same amount. An improvement of 1% would save an estimated $284,000 company wide over a year’s time. Lastly, the larger the resort the larger the savings

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