With clearly defined and clearly articulated goals, you’ll give yourself and your marketing team the tools they need to build a defensible hotel marketing budget.
Hospitality Financial Leadership is the missing link for many hotel leaders and executives. It is hard to think or believe that some of our senior members are playing the game with a short hand
The need to reduce hotel operating costs is universal. A guaranteed way to reduce hotel operating cost, on a strategic standpoint, is the adoption of a cloud-based hotel pms.
With a growing emphasis on Revenue Managers to gain greater financial literacy we look at the challenges individuals face when trying to up-skill and some possible training solutions.
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.