financials

The morning meeting is a mainstay in almost every hotel. All the key department managers and leaders gather, usually in the front office or sometimes an in-house meeting room, to […]

Hotel budget season is upon us. And while the process may vary somewhat from hotel to hotel, it ultimately comes down to the same goal: what you can do differently […]

In hospitality we all know that payroll is by far the largest expense and therefore it has the biggest negative impact on profitability. Turn this around and know that finding […]

Recently, we released five revenue management hacks. These hacks are designed to be simple things you can put into place whether you are using automated tools or working in a […]

Bernard Baumohl, chief global economist for the Economic Outlook Group, warns there are several worrying signs for the fate of the overall economy and hoteliers would be wise to plan […]

  #1: You can increase the way you lead your team financially. Create an environment that has your managers working together on the “business” of running your hotel. It all […]

When we cross the bridge in the hospitality financial world to the greater business world, the concept of an asset and how it is used comes full circle. I am […]

Lately, I have spoken to several revenue managers who have told me how much their cost is to take a room—to make that last sale of the day. NB: This […]

Effective January 1, 2018, several new accounting standards became mandatory for the hospitality industry in the U.S. The most important of these standards concerns revenue recognition, and more concretely how […]

Hotel revenue managers are experts at determining how much revenue a particular guest will generate. NB: This is an article by Rainmaker With their RMS, they use predictive analytics to […]