Monica Xuereb, Chief Revenue Officer at Loews Hotels, and Chris Baniewicz, Senior Manager, Revenue Performance Solutions at Expedia Group, join André Baljeu to share their expertise and practical tips: Why is monitoring demand important? How to best monitor demand for effective forecasting?
Time-Stamps
00:00 - Introduction
01:25 - Importance of Demand Forecasting
02:27 - Why is Monitoring Demand so important? What should Hotels monitor?
03:45 - The 3 Types of Demand Forecasting - Operational, Revenue & Budget Forecasting
06:44 - Methods of Demand Forecasting
What’s the difference between the two primary methods - Quantitative & Qualitative Demand Forecasting?
08:45 - Collecting & Recording Data - What types of data to consider?
14:40 - Demand Forecasting Approach & Tools
16:48 - Hotel Budget & Its Role
19:07 - Conclusion
Resources mentioned in the Video
Traveler Value Index: 2022 Outlook l Travel Trend Report l Q1 2022
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In her role as Chief Revenue Officer at Loews Hotels, Monica Xuereb is responsible for guiding and supporting all sales and revenue processes; including leading the strategy for generating more efficient, predictable, and profitable revenue to support company growth and value.
Ms. Xuereb joined Loews Hotels in 2013 as Vice President of Revenue Management after successfully running her own consultancy for more than three years. Her company assisted with revenue management, pricing, and distribution strategies to independent hoteliers and small hotel groups such as Dorchester Collection, Small Luxury Hotels of the World, Rosewood Hotels & Resorts, Morgans Hotel Group, and Viceroy Hotels and Resorts.
She spent 17 years in total with The Ritz-Carlton Hotel Company and Marriott International, holding several senior Revenue Management positions at the Regional, Area, and Property levels, including Vice President of Revenue Management, International, where she oversaw the yield strategies of 34 Ritz-Carlton and Bvlgari Hotels in Europe, the Middle East and Asia.
Connect with Monica on LinkedIn.
Headquartered in New York City, Loews Hotels owns and/or operates 27 hotels and resorts across the U.S. and Canada. Located in major city centers and resort destinations from coast to coast, the Loews portfolio features one-of-a-kind properties that go beyond Four Diamond standards to delight guests with exciting, approachable, and local travel experiences.
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Chris Baniewicz is a Sr. Manager for the Revenue Performance Solutions team at Expedia Group. This team is driven by the mission to power revenue performance insights for everyone, everywhere. By leveraging Expedia Group data, technology, global reach, and machine learning capabilities, they aim to level the playing field for all lodging & vacation rental partners. They are focused on accelerating commercial outcomes for Expedia Group’s supply partners using immersive & intuitive products, APIs, and innovative data & technology partnerships. Chris is passionate about helping lodging partners be successful by adopting revenue performance technology and practices.
Before joining Expedia Group, Chris was a Director of Revenue with Accor Hotels. Chris completed his bachelor’s degree in Hotel, Restaurant, and Institutional Management from The Pennsylvania State University. In addition, he holds a Certificate in Hotel Revenue Management from The School of Hotel Administration, Cornell University.
Connect with Chris Baniewicz on Linkedin.
Expedia Group, Inc. companies power travel for everyone, everywhere, through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success while facilitating memorable experiences for travelers. The Expedia Group family of brands includes Expedia®, Hotels.com®, Expedia® Partner Solutions, Vrbo®, trivago®, Orbitz®, Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®, Expedia Group™ Media Solutions, Expedia Local Expert®, CarRentals.com™, and Expedia Cruises™.
Expedia Group is a Founding Member at techtalk.travel
Also make sure to find these supporting content elements of the editorial Demand Monitoring for Effective Forecasting
Also, find the first Editorial discussing Revenue Performance Principles for Independent Hotels
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