Room Budget and Forecast

Summary

This section displays how to handle and maintain the Room Budget and Forecast. To handle and maintain Budgets and Forecasts for any other departments or profit centers, please see Other Budget and Forecast.

Intended Users

General Manager, Hotel Manager, Revenue Manager, Booking Manager and Controller.

Instructions

  1. The view is divided into five columns – Month, Revenue, Room Nights, Guest Nights and Available Rooms.
  2. Under each column, you can view what you chosen. You can select this in the View Options menu. See instructions below under heading View Options.
  3. If you have chosen to use segments, you will have to choose Show Segments in the View Options – Budget & Forecast menu. See instructions below under View Options.
  4. You can now adjust the Budget and Forecast directly in this module. It is recommended to use the Live Forecast Module when calculating and submitting the Forecast.
  5. You may choose what period to view by using the date picker. You may alternate to see months or years.
Rooms Budget and Forecast.PNG

Tools

Tools - Room Budget and Forecast.PNG

Under Tools you have four different choices.

1. Available Rooms – This is where you set your room inventory. It could vary during different time periods. You might have long time renovation in the hotel that closes down hotel rooms or you might add hotel rooms. So, in order to get the correct calculations for Occupancy, ARR and RevPAR in the Flash Report, we recommend you adjust your inventory.

Tools - Availble Rooms.PNG

2. Submit Several – This is one way to submit your Live Forecast to Forecast; you can also do it from the Live Forecast module.

Submit Several.PNG

3. Settings

  • Type of Budget and Forecast − what you want your Budget and Forecast to be based on (Room Nights, Covers, Units or Revenue).
  • Allow Negative Live Forecast − allows your Live Forecast to forecast more than your capacity.
  • Exclude from RevPOLU − sometimes you might want one Budget or Forecast not to be calculated in the figure RevPOLU Segments. Here you can choose if you want to use segments. You can also choose if you want to forecast on each separately or as a Day Total.
  • OTB − Use On The Books when calculating pickups and forecasts where connected to a source system. You may also use Tentative OTB if applicable. It is standard practise to use OTB Guest Nights and put days as 7.
  • Auto Live Forecast on new OTB – this means PMI will recalculate every time new OTB figures are available, as often as every evening.
Settings Room Budget And Forecast.PNG

4. Export – You can export to Excel or PDF. Remember to save your data before exporting your data to Excel or PDF, or PMI will export the last saved data and you will not export your latest figures.

View Options

You may choose to see Budget, Forecast, Actual and Last Year in the View Options. And also choose to Show Segments, if available.

View Option Room Budget and Forecast.PNG

Recommendations

This module is more for information purpose. Its an easy way to see if you have the Budget and Forecast in place for a certain period.

If you want to change the figures, we recommend you to do it in the Live Forecast module; please see how under Submit to Forecast.

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