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Part 1Question 1Customers' demand for lodging products and services is crucial in sales forecasting in the hospitality industry. Firstly, the request for the lodging product translates to the future cash flow. High demand suggests that the business will generate more revenues in the future. Typically, revenue analysis is mostly per month or annually. The current order of the lodging services and product can help the management to forecast future sales. For example, if there is a 5% increase in demand for the lodging product and services, the management will forecast growth in sales if all factors remain constant.The analysis of customers' demand will help determine the probable change, which translates to revenue generated. For instance, if the study of the demand shows that in a certain p...
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