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We have just completed a year that has been so unprecedented. It has re-written the goalposts for so many things, especially for the hotel and other service industries where people are the main ingredient in what we offer.

For a long time now in the hotel business we have been using REVPAR index to measure how effective our sales, marketing and revenue management strategies are. In this piece, I am going to talk about what I think should come next. I do not know about you, but I can remember when we did not use and compare…

Do your hotel financial statements give you the information you need to effectively run your business? Are you able to see if your profits are where they should be in an enhanced top-line statement? Do your statements measure flow thru? Do you record your room’s business by proper segments and track the…

In the hotel business if you want to get ahead you better be ready to move. It’s the way in which you can multiply your opportunities and increase your chance for greater personal prosperity. That’s the way it was explained to me many years ago and it has certainly been my experience.…

Forecasting is incredibly important because we need a fresh and current plan to help us execute our financial strategy and as the saying goes, “Without a map any road will take you where you want to go.” I know for many hotels the idea of having a monthly forecast seems far-reaching and…

After recently completing a policy manual for a client, I want to share what worked for this hotel company and what could work for you. I also want to clear the air on policy vs. procedure.

I know it is a big challenge to get a policy manual together for a hotel…