Opportunity
Hospitality Financial Leadership – Your Top 10 List of Excuses
Now I bet you’re wondering, excuses for what? Excuses for not jumping in the deep end with the financials in your hotel career. What’s your imagination telling you that’s wrong in your hotel that holds you back from owning your departmental expenses and payroll? What is the magic fairy dust that someone dumped on you that keeps you on the…
Hospitality Financial Leadership – Owed to Canadian Rock Legends – RUSH
For most people we all have our song of life, that special time and genre, and maybe even a band or artist that really captures the essence of who we were then, and it marked a turning point in our younger lives. For me it was definitely Rush! I can vividly remember when I first heard the song from the…
Hospitality Financial Leadership – Putting a Dollar Value on a Hotel
Determining the current selling or asking price for a hotel is a bit tricky. Compared to estimating the present value of a house it’s more like a detailed math exercise rather than a google search on Redfin. That’s what this piece is all about, how you can estimate the value, AKA sales…
Hospitality Financial Leadership – Closing Costs
In my life, there are few if any financial moments that have created a lasting positive memory. At least that is how it has been for me. Not too many earth-shattering activities, but one on the money side stands out. So that is what this one is about, one of those moments where a financial miracle happens, and it…
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 Technology Has the Hotel Business Bootstrapped
Bootstrapping is a statistical metric that uses random sample replacements. That definition is not for me, so bootstrapping also has a broader slang meaning that most people get.