TABLE OF CONTENTS This section involves the revenue forecasting process for the rooms, restaurant, and room service departments. These forecasts are prepared weekly and are a key management tool for department managers to use in scheduling and controlling operating expenses. The process that will be used is to present the forecast from the first week to explain and demonstrate how a forecast is prepared and how it is used. Information will then be given for the second week that will include changes from the first week that increase the volume and revenue or decrease the volume and revenue. Students will prepare the second week forecast for practice. It will be reviewed and discussed in class. Students can work individually or in groups when preparing the forecast for the second week.
The third week will be presented again as an example with changes to the first week forecast, either a busier or a slower week. Students will prepare the third week forecast as a problem set and turn it in. It will be graded and is worth 25 points. Students can do this assignment individually or as a group. The fourth week forecast will be a quiz where students are expected to prepare the fourth week forecast by themselves. This process will be followed for room forecasts, restaurant forecasts, and room service forecasts.
Developing the rooms department revenue forecast involves two steps. The first is to forecast rooms sold, and the second is to forecast room...
