HTM 4454 Lecture Notes - Lecture 8: Martin Luther King Jr. Day

• School: Virginia Tech
• Department: Hospitality and Tourism Management
• Course: HTM 4454
• Professor: Perdue

Document Summary

Section ii: processes and calculations: factors affecting forecasting, external factors a. i. Product changes: key forecasting information, market conditions, current and historical patterns of different market segments c, group market segments. Blocked rooms account for high end of expected occupancy d. ii. Wash = expected occupied rooms actual: types of forecasts. It isn"t comparing the 1/14/15 to 1/14/16 but comparing that day in 2015 to that same day in 2016 a. i. 1. a. This helps to account for changes in a. i. 2. seasonality, etc. Mlk day: relying only on trends and patterns of the business without regard to current events b. i.