financials

Flow-through in the hotel industry is fundamental to understanding how profitable your business is, especially across all the different departments

The only thing we know for sure about the budget is … wait for it: It is wrong. That’s right, it is wrong every time. It will never be the correct answer

Y1ou would be surprised how many hotels do not use their pick-up report properly and miss out on the financial opportunity a good strategy can represent

Your hotel financial statement needs to be in shape, and it must have the proper features that allow you the insight to make better operating decisions

February was stronger all around for the global hotel industry, but escalating line item expenses could derail what’s already a fragile profit rebound

Inflation’s impact is typically offset by raising prices and passing on costs. However, inflation dramatically increases a customer’s price sensitivity

You also need to be balancing the guest ledger and the city ledger to the property management system totals as well as to the general ledger

If you have a small budget, it’s a waste to split that between SEO, SEM, PPC, Metasearch. Instead of spreading horizontally, go vertical in one or two areas

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