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I discuss this question with hoteliers way too often. It’s not their fault, but the reality is they don’t understand what this statement means and, in this piece, I’m going to lay it out for you. I will say that the lack of understanding and basic ignorance of this is a costly and completely avoidable expense if you just do…

Hospitality Financial Leadership
Creating a Hotel Accounting Policy Manual and Internal Control Reviews

Hospitality Financial Leadership
Calculating F&B Labor Productivity

Now I bet you’re wondering, excuses for what? Excuses for not jumping in the deep end with the financials in your hotel career. What’s your imagination telling you that’s wrong in your hotel that holds you back from owning your departmental expenses and payroll? What is the magic fairy dust that someone dumped on you that keeps you on the…

A capitalization rate, or cap rate, is a measure of the income return on an asset, such as hotel or rental property, relative to its purchase price. It is calculated by dividing the net operating income (NOI) of the asset by its purchase price. That’s what this piece is all about. It also must be said from the get-go that…

Selkirk College Adopts David Lund’s “The Prosperous Hotelier” as Course Textbook Nelson, British Columbia – October 14,2024 – Selkirk College is excited to announce that David Lund’s widely acclaimed book, The Prosperous Hotelier, has been officially adopted as a textbook for the Resort & Hotel Management program.

Under the guidance of esteemed instructor David MacGillivary, students at Selkirk College in Nelson,…