Hotel Finance Strategy
Hospitality Financial Leadership – Understanding Business Principles
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Guest Post by: Alicia Rother, 5 Strategies for Navigating Financial Challenges in the Hospitality Industry
The hospitality industry has long been a cornerstone of the global economy, providing millions of jobs and contributing significantly to local economies.
However, recent times have put this industry to the test like never before. The COVID-19 pandemic, economic downturns, and shifting consumer preferences have created significant financial hurdles for businesses in the hospitality sector.
According to the World Travel…
Hospitality Financial Leadership – Why You Need to Reconcile Your Credit Cards Every Day
The dreaded credit card reconciliation need not be such a big deal if we bite-size it. That is what this piece is all about: How and why you should balance your credit cards daily. That is right – every day – and I mean we know the cards are balanced to three separate and connected points.
Hospitality Financial Leadership – How to Write a Great Monthly Executive Commentary
They go by many names: owner’s commentary, monthly commentary, executive commentary and more. The names can be different but in essence, they are all the same thing – a review of the prior month’s results plus a forward look into the coming months from a financial and market perspective.
Hospitality Financial Leadership – How to Prepare a 5-Year Proforma
Preparing a five-year financial plan for your hotel might sound daunting, but it is all in your head.