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Opinion Article Human Resources

Artificial Intelligence as a Hospitality Business and Education Tool

Five benefits of AI for pricing and forecasting decisions are offered below: Enhanced Accuracy: AI algorithms discern intricate patterns and trends in vast datasets, leading to more precise demand forecasting ... Predictive Analytics for Demand Forecasting: Use AI algorithms to analyze historical data and predict future demand for rooms.

Robert O’Halloran
By Robert O’Halloran, Professor Director, School of Hospitality Leadership, East Carolina University
Press Release Markets & Performance

European Hospitality Sector Outlook 2024

Investors are especially interested in acquiring resorts and hotels in prominent gateway cities with robust tourism demand, such as Paris, Barcelona, Madrid, and Rome. ... A recent Global Business Travel Association (GBTA) report predicts that the business travel industry will surpass 2019 travel levels by 2024, two years earlier than its previous forecast.

Cushman & Wakefield
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Press Release Sales & Marketing

115 Million Americans Expected to Travel Over Christmas, New Year’s

Holiday Forecast Methodology Travel Forecast In cooperation with AAA, S&P Global Market Intelligence developed a unique methodology to forecast actual domestic travel volumes. ... The travel forecast is reported in person-trips. In particular, AAA and SPGMI forecast the total U.S. holiday travel volume and expected mode of transportation.

AAA (the American Automobile Association, Inc.)
United States
Opinion Article Sales & Marketing

Event Space Revenue Analytics: The “Marriage” of Revenue Management and CRM

inventory, event space shares many of the conditions that are conducive to the application of Revenue Management: Relatively low variable cost, relatively high fixed cost structure Seasonal, varying demand ... non-existent, demand is reliable – people will forever get married – and parties will often overspend their budget to the benefit of the venue.

Dan Skodol
By Dan Skodol, VP Data Science and Analytics, Revenue Generation, Revenue Generation LLC