Estimating Hospitality Industry Recovery Using Big Data and AI
The hospitality industry will experience a significant transformation through the COVID-19 pandemic and in the post-pandemic era. But the old models of forecasting based on historical data are not as accurate and effective in the current situation. This analysis outlines a new framework and model for real-time forecasting of key hotel metrics – occupancy, ADR and RevPAR – with examples from major North American hotel markets. Utilizing this model, hotels and the broader travel industry can more effectively plan for the rebound in demand.
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