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Thrive in challenging hospitality industry conditions

Data analytics for the hospitality industry in an era of disruption Improve profits, productivity, and customer satisfaction—and be ready when the next disruption hits

    UNDERSTANDING THE CHALLENGES

    FACING THE HOSPITALITY INDUSTRY

    In our current era of disruption, traditional forecasting and planning approaches have quickly become obsolete.

    You may be operating in an ineffective reactive mode for your demand planning, staffing, supply chain and channel management.

    You know there has to be a better way forward — a more efficient way to manage the revenue of businesses in the hospitality industry. Without one, you risk:

    PMA Variable Costs Icon square

    OUT OF CONTROL
    VARIABLE COSTS

    PLA Ineffective Staffing@2x-1

    INEFFECTIVE
    STAFFING

    PLA Low Occupancy Rates@2x-1

    LOW OCCUPANCY
    RATES

    PLA Poor Customer Service@2x-1

    OUT OF CONTROL
    VARIABLE COSTS

    You wonder if there’s a solution. And what will the future bring?

    The Era of Disruptions is Here

    It’s likely that we’ll continue to see increased disruptions from the pandemic and the potential relapse,

    civil unrest, recession, climate change, trade policies, and more.

    But You Can Adapt

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    Volatility will increase. That’s a given. And demand is difficult to predict and manage without the proper tools and analytics.

    But novel approaches to performance hospitality analysis like Demand Sensing will help your organization navigate through the disruption and predict its impact on demand, consumer preference, and behavior.

    The New Way Forward—Demand Sensing

    Sensing Traditional time-series and descriptive forecasting no longer work in today’s turbulent environment. Don’t make new planning approaches an afterthought. Instead, add them to your arsenal now so you’re ready when the next disruption hits.

    Download our free guide: How and Why To Put Demand Sensing to Work In Your Hospitality Business

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    Here's How Demand Sensing Works

    STEP 1

    We’ll decide on your optimal forecasting unit level, time horizon, and geographic granularity.

    STEP 2

    Next, we’ll embed external data from socioeconomic indicators, the news, social media, and IBM’s unique indexes.

    STEP 3

    Finally, we’ll integrate all this with your internal historical demand data and recommend your best forecasting approaches.

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    The Result

    Key Outcomes

    Here are the results our customers are seeing

    95%+

    Demand forecast accuracy

    5%+

    Productivity investment

    In addition, you can expect:


    LPA Lightbulb

    More efficient use of working capital (lower inventories)

    LPA Stop Wasting Money

    Avoidance of vacancies and mismatched pricing vs. demand

    LPA Inventory

    Minimized obsolete inventory

    LPA Satisfaction

    Increased customer satisfaction through increased availability and optimized pricing

    Real Clients
    Real Solutions


    Learn how LPA transformed data into insights and increased operational efficiency for hospitality clients.

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    Further Benefits

     The advantages will filter through your entire organization.

    Save operational time, payroll, and organizational focus

    • Real time data access will be customized by region, role, and responsibilities
    • Top side adjustments to budget or revenue forecasts will automatically roll down
    • Local user input on actuals will instantly roll up into the dashboard
    • No more merging and pushing up/down of dozens or hundreds of unique spreadsheets manually
    • Multiple data sources will be aggregated into one universal dashboard

    Accurate forecasting and stronger KPIs

    • Improve accuracy and value of forecasts at a local level with real time data
    • Forecast budgets and revenues in weekly or daily windows instead of monthly
    • Localize forecasts to specific geographic regions and areas
    • Give stakeholders the ability to make confident and quick decisions based on timely, accurate data

    Stronger and faster organizational response to unforeseen events

    • Widen the range of potential scenarios and outcomes in forecasts
    • Include non-traditional scenarios to better prepare for the unknown
    • Model what if scenarios such as weather emergencies, population shifts, industry mergers and shake ups
    • Preserve occupancy rates and revenue streams during unforeseen events

    Schedule a financial planning and analytics strategy session with LPA

    Financial Planning Analytics Strategy Planning for Hospitality

    Our Partners

    We partner with leading providers of the most robust analytics and business intelligence platforms on the market today.

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    Planning Analytics in Hospitality Webinar

    Would you like to see LPA’s Hospitality Solution in action? Watch

    this webinar.

    Webinar Content by Brendan Austin, Director of Financial Performance Management

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