Automatic

📈 Adriano Faustini of Parc Hotels Italia shares insights on MyForecast RMS, used since 2017 across multiple structures. MyForecast aids by organizing data for more strategic pricing decisions, supporting rather than replacing human judgment. AI is viewed as a decision-support tool, not a substitute. Parc Hotels plans to test MyForecast's AI price suggestion module, aiming for faster, informed decisions. Faustini emphasizes technology's role in enhancing human decision-making, with AI and RMS critical yet non-autonomous parts of future revenue management.

📈 In the early months of the year, the hotel industry focuses on strategic data analysis to shape the season's strategy. Key performance indicators (KPIs) like RevPAR, ADR, and Occupancy Rate are critical. A data-driven approach aids in understanding performance trends, anticipating demand changes, and optimizing pricing. Effective strategies involve historical data cleaning, KPI calculation, performance comparison, and flexible forecasting. Adopting data-based revenue management tools has led to significant growth in RevPAR, ADR, and occupancy rates.