Now You Can See for Yourself!
Accurate forecasting is at the heart of good revenue management.
After all, there's little point in having sophisticated rate recommendations and detailed reporting if you can't rely on the forecasts behind them.
And while we're confident in the accuracy of Right Revenue's forecasting, we think it's important that you can see exactly how we're performing.
That's why we've introduced our new Forecast Accuracy Report.
Putting our forecasts to the test
The report compares Right Revenue's forecasts against your hotel's actual performance, giving you a clear picture of how closely our predictions matched reality.
It uses a measure called MAPE (Mean Absolute Percentage Error), which essentially tells you the average percentage difference between what we forecast and what actually happened.
You can:
Track forecast accuracy from 180 days out through to the end of the month being measured.
Review performance by individual day or segment.
Choose different historical periods to analyse.
See how forecast accuracy changes as arrival dates get closer.
Of course, we'd expect forecasts made six months in advance to be less accurate than those made a few days before arrival.
And that's perfectly normal. Forecasting isn't simply about predicting a final number. It's about anticipating demand early enough to help your sales, marketing and commercial teams make better decisions along the way.
It's also worth remembering that large group blocks or bookings without revenue attributed can affect the accuracy figures, as the quality of the data inevitably influences the results.
Why have we introduced this report?
Quite simply, we believe in being transparent about how our technology performs.
The new report gives you a meaningful benchmark for understanding our forecasts, identifying patterns and seeing how accuracy develops over time.
And it gives us valuable feedback too, helping us continue to improve.
Take a look for yourself
The Forecast Accuracy Report is now available within the Right Revenue solution.
Head to Reports → Analysis → Forecast Accuracy to explore your results.
We'd love to hear what you think! Get in touch with your Customer Success Manager or email is at ask@rightrevenue.co.uk
