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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,…

Welcome to the “exciting” world of hotel accounting policy manuals and internal control reviews. Having a set of “rules for the road” is an essential tool that any hotel needs to be successful. Join us and explore what you need to know to get cracking!

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As I have said in many of my earlier posts, Food and Beverage is special. And I mean that with all sincerity because it’s an integral part of our business especially with a full service offering. However, there are challenges that we need to overcome and one big one is how to report the profit and loss activity so that…

Rolling forecasts are nothing new but I must point out that most hotels don’t use them, and they really should. It’s an incredibly useful tool that is literally worth its weight in gold. That being said, it doesn’t weigh much but once you start to use one it’s an indispensable tool that you must have each month, and its impact…

With my workshops and speaking, I often do an exercise where I challenge each leader to find a minimum of $250 in next month’s forecast. That can be savings in the form of reduced payroll or expenses. It can also be a source of new revenue. The participants come up with some amazing ideas that really work. The great thing…