financials

With the region adding new product along more segments, and kpis in a torpid state, savvy third-party operators, armed with data intelligence, could be an antidote to the profit plummet.

There was a time when food and beverage within the hotel space was viewed as a necessary evil. Hotel guests were lucky if they awoke to a continental breakfast and […]

Waving goodbye to august, summer, holidays and going back to work and the daily routine is a blue moment for many but not for the Revenue Managers and their Budget […]

The budget exercise is one that we commonly dislike because it is so long and people are often discouraged because they do not see their department getting more resources.

It’s paramount as a financial professional that you never ever let a month go by where you have not completely reconciled the books. You can’t do a clean close without having your accounts reconciled.

Revenue Management forecasts should come first, serving as an input for decision-making from a revenue strategist. The output then shows how you compare to your business forecast each month.

From 2007 to 2017, the hotels in the poor-performing sample achieved a RevPAR compound annual growth rate of just 0.7 percent. Compared to 2.5 percent for all hotels in the STR national sample.

The sole purpose of the financial review is to find ways to improve moving forward. We always start at the beginning with rooms revenue. What’s going on in the market and how is the hotel performing.

Benchmarking and KBI’s were all the rage but today you don’t hear much about their usefulness or how to create them. There is a good reason they have fallen out of sight in the hospitality industry.

Having the leadership team plugged into the real financial forecast and managing the middle of your statement is priceless. It’s also a lot more fun for everyone.