Financial Reporting

A lot gets written about certain things in the hotel industry and others not so much as a mention. I am not saying it is simply a matter of blatant favoritism or anything like that but it is not lost on me that certain items get the limelight.

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…

Practice is what we are missing. Practice with the financial piece is somehow a foreign concept. But in the hotel world practice is everywhere, right?

If you and I worked in banquets and we were both rookies, we would show up every day and listen, work and learn, and in a relatively…

By someone’s estimate there are roughly one million hotels in the world. I take it that number includes all the different kinds of hotels from small inns and hostels all the way up to your full-service multi-outlet mega hotel operations. For simple math I am going to estimate that half of this number of hotels fall into the small…

The hotel business is a retail business and in order to stay on top of your business you must fully and completely balance your daily revenues and settlements. Every day we begin anew and every day is a story unto itself when it comes to the revenues and settlements. I may sound…