financials

There is a healthy range of revenue risk that lies somewhere between a careful analysis of historical trends and market projection topped with some optimism

Even in the best of conditions, setting up next year budgets include some amount of guesswork, relying on historical data and trying to predict the future

With historical forecasts irrelevant, it can be useful to do “budget sprints” or shorter budgeting windows better suited to respond to dynamic situations

Now I know the truth and it is this: The money never looks after itself. You, me and everyone else must have a plan and a system to “look after the money”

The analysis of market segmentation is the backbone and the business intelligence that fuels our revenue management strategies

Because digital marketing changes so quickly, it is important to make sure your online presence is keeping up with it as budget season arrives

A roadmap is essential to ensure your hotel marketing budget isn’t wasted and the correct channels are used to satisfy your marketing plan’s goals

Strategic roles like finance, revenue management, marketing, and others require more data driven decision making than hands-on experience at the property

To have better, more accurate budgeting numbers for the year ahead, hoteliers need to re-evaluate their drivers and establish a new baseline data set

If you’re not thinking in terms of guest acquisition cost to get customers through your door then you’re missing a critical metric in charting your success