Hotel Internal Controls

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…

“AR” as we commonly refer to the sub department of the accounting function is a mainstay in any larger group-based hotel. In these juggernauts the importance of efficiently collecting your money is mission critical. Not only do we take the chance that the group will come and stay after we hold all those…

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