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Forecasting

Forecasting. Developed by Jennifer Ford – January 29, 2014 For MARKETING 160 M14N70 A look at Myles Lake Guesthouse!. Where can I find information about what types of amenities visitors would like in a Guesthouse?. Visitor Surveys. www.vrbo.com www.ownerdirect.ca https://www.airbnb.ca

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Forecasting

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  1. Forecasting Developed by Jennifer Ford – January 29, 2014 For MARKETING 160 M14N70 A look at Myles Lake Guesthouse!

  2. Where can I find information about what types of amenities visitors would like in a Guesthouse? Visitor Surveys www.vrbo.com www.ownerdirect.ca https://www.airbnb.ca http://nanaimo.travel.bc.ca/accommodations/vacation-rentals/

  3. How do we determine what price to charge at our new Guesthouse?

  4. Myles Lake Guesthouse 1.) What are the start-up costs? 2.) What are my fixed and variable costs?

  5. 3.) What are my revenues? Jennifer operates at 100% occupancy from Sept – April ($1150 per month). Jennifer operates at approximately 75% occupancy from May-August (17 weeks, averaging 7 weeks at $700 per week, and 35 nights at $105 per night) * no tax!

  6. Forecasting in marketing: Next year, Jennifer’s insurance costs are forecasted to go up (earthquake policy), and her taxes will likely increase too (probably by about $1,000.00 between the two). She knows she has approximately 5 weeks (35 nights) in the summer that she would like to fill and increase her overall occupancy. Now you know the financial numbers behind Myles Lake Guesthouse. In small groups, talk about options and forecast how you could increase her revenues and cover her increasing costs. Think of pricing strategies, marketing opportunities, costs, etc. Brainstorm and be creative!

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