Key Features

1. New Template: A dedicated "Forecasting" template is now available within Report Builder.
2. Key Metrics: The tool provides forecasts for Rental Revenue and Occupancy. These new metrics can also be used in any of your custom Report Builder templates.
3. Listing Scope: Forecasting is currently available for:
1. Single-unit listings. (Will be available for multi-units soon)
2. Listings that are actively syncing.
4. Time Horizon: Forecasts are generated for the next 12 months.
5. Frequency: A new forecast is created on the 1st of every month.
6. View Levels: You can view the forecast at the listing, group, sub-group, or account level.

How the Forecast is Generated

1. Data Inputs: The model utilizes pricing logs, historical booking data, and market occupancy information.
   
2. Predictive Model: A machine learning model is trained to identify the relationship between factors like minimum stay, weekends, holidays, market demand, and past booking patterns.
3. Daily Prediction: At the time of forecasting, the model predicts the likelihood that a listing will get booked on each day.
4. Adjustments:
1. Predictions are adjusted based on a listing's and the market's pacing to ensure realistic expectations at a monthly level. When a listing has insufficient data, the model uses market-level data to make these adjustments.
2. Uncustomized prices are adjusted based on past and current Average Daily Rates (ADRs) at a monthly level.
   
5. Final Calculation: The monthly revenue forecasts are calculated by combining the predicted demand with the adjusted uncustomized prices.
   

Accuracy of the Forecast

• Timeframe: The forecast is more accurate for upcoming months compared to months further out.
  
• Historical Data: While not required, the forecast is more accurate if last year's reservation data is available, as it provides the model with a more robust baseline for its predictions.