financials

Budgeting for 2021 is a new horizon for us all. Financial planning is not business as usual and crafting the perfect budget is challenging

Using hotel benchmarking and reports to determine profitability, it’s possible to identify true value and clear the way toward higher profit

Zero-based budgeting is a way to deal with instability. It’s a method of budgeting in which all expenses must be justified on each new period

Relying on RevPAR alone can cause major problems for hotel decision makers. Luckily, there’s a much more reliable recipe for hotel profit

While forecasting methods are under the spotlight, hotel financel leaders should seize the opportunity to roll out smart practices and tools

Though hotels occupancy was up in the month 4% points over July to a still slim 24.8%, average rate over the same period was down 1.6%

Without justification, budgeting can feel a whole heck of a lot like guessing. Share of voice gives you that much needed justification

A user must be looking for YOUR hotel and rates for the MetaSearch option to be available. This is part of a hotel’s “book direct” strategy

There is space right now to create significance as a brand. People are asking for more value driven options, so up to you to give it to them

The budget process is the opportunity to learn about every inch of your hotel. Really examine what’s going on inside all the departments.