financials

Doing your month-end and having a final financial statement each month within one week is the benchmark for a team and system that works well

The budget is a mean and unruly nasty guest that comes every year and does not leave completed for weeks, even months. It is certainly not fun like baseball

Remote work is already having an impact on the hotel industry, and this trend will continue. I recommend embracing it, it will increase your bottom line

Managing labor costs is a never-ending battle in any hotel. No wonder it adds up to on average 50 percent of the total revenue in hotels around the world

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