Hotel Budgets
Hospitality Financial Leadership – Money Never Looks After Itself
I do not know about your experience, but for me growing up in the hotel world, and especially my first decade working in F&B and rooms, the adage, “Look after the guests and the money will look after itself,” was literally beat into my head.
Hospitality Financial Leadership – How to Prepare the Annual Budget in 1 Hour
Over the many years I have worked in hotels, I have had the pleasure of working with some exceptionally fine and talented individuals. This story is about one GM and his penchant for simplicity.
Hospitality Financial Leadership – The Top 10 Forecasting Secrets
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…
Professional Hotel Bank and Balance Sheet Account Reconciliation Service For You
Now There Is Help With This Monthly Must Do Function
In Your Hotel
In a recent blog post I wrote about the importance of balancing your general ledger accounts each and every month.
This mission-critical monthly health…
Hospitality Financial Leadership – Why Does it Take So Bloody Long to Do the Annual Hotel Budget?
Bloody is a great word. It’s English and I’m Canadian so that’s close enough and I’m adopting it for this piece. The word is so descriptive, and it immediately conjures up images of battle and of great suffering. Much the same as the annual carnage we refer to as budget…
Hospitality Financial Leadership – Should I Develop a Detailed Budget and Monthly Forecast?
The simple and only answer is yes, you should. Without these tools you are flying in the dark and sooner rather than later you are going to run into a mountain. In my opinion if you are running your hotel business without this and you think that is okay then you are simply irresponsible. If you are thinking it…