AI for Hospitality Industry: Forecast Average Daily Rate with Machine Learning to Optimize Revenue

This video shows how Gleematic can do time series forecasting with A.I. Machine Learning. In this video, Gleematic will forecast Average Daily Rate (ADR) which represents the average revenue generated per occupied room in a given time period. This capability will be useful for hospitality industry, especially hotels:
1. Dynamic Pricing
By forecasting ADR, hotels can adjust their pricing strategies in real-time based on demand fluctuations, maximizing revenue potential.
2. Optimized Revenue Management
Forecasting enables hotels to optimize revenue management strategies, such as determining the best times to offer discounts or promotions.
3. Budgeting and Planning
Estimate future revenue streams more accurately, allowing them to allocate resources effectively and make informed investment decisions.
01:11 Training data
01:21 Parameters used for forecast
02:27 AI Machine Learning used for forecasting
03:40 Running Gleematic
03:55 Forecasting result
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