Case Study 2: Forecast Adjustment Hotel Churchill is an upscale hotel in downtown Toronto, Ontario, Canada, with a capacity of 260 rooms. The hotel is close to the Old City Hall, the theater dis trict, and Toronto's main shopping district. A very close competitor, the Hotel Har and is an upper-midscale hotel that has struggled during the last couple of year mony, is on the same street less than a block away. The Harmony has 360 rooms with changes in brand affiliation and ownership. The Harmony is included in the Churchill's comp set. The revenue manager of the Churchill got some interesting news in a twee from a hotel realty company: the Harmony had been sold, and the new owner w not a hotel corporation but the University of Toronto, which has a chronic shortage of student housing. The tweet said the university planned to convert the hotel into a student-housing facility. The conversion would take place in the coming quarter. Discussion Question Does the Churchill need to make changes in its forecasting? What changes, if any?