financials

This is a perfect opportunity for the hotel industry to work on zero-based budgets, instead of prior year’s numbers, so they focus on services guests value

Mitigating risks has an entirely different meaning for the year ahead. Everyone’s budget meetings will likely include the following hot topics of discussion

In measuring that recovery, 2019 data is the benchmark, hoteliers can gain key context for the amount of profitability they are recapturing

Hotels are awash with valuable structured and unstructured data providing profitable insights that can help revenue managers create forecasts

A review of changes in marketing department expenditures provides some interesting insights into how U.S. hotels adjusted their unit-level marketing tactics

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