A 30-year hotel vet, David has seen everything, a lot of which he shares in his book, The Prosperous Hotelier. Susan Barry host of the Top Floor Podcast and David talk about railroads, scams, and Russians.
This article is all about cash - keeping more of what's yours and making sure it's properly controlled. Cash controls are not complicated, but they need heightened awareness and a constant effort to be effective.
During my career inside hotels, I had the pleasure of opening and transitioning several hotels to our brand, processes and systems. This was always a lot of work but well worth it because you got to meet a lot of new cool people and on top of that traveling to some pretty nice locations. One of the best projects I ever worked on was the hotel transition in the UK.
Your Ultimate Resource for Financial Leadership in Hospitality - www.hotelfinancialcoach.com
There is a critical understanding that all hospitality financial leaders need to clearly understand and communicate when it comes to expenses. It is a simple distinction that is many times missed or not clearly understood. That is what this piece is all about: Clearing up the mystery and setting the expense record straight. Here's the scoop!
Packages are, on the one hand, straightforward. They are a well-established offering in most hotels, customers love them, and they are not going away. On the other hand, most hoteliers are at a loss to properly set up and manage the transactions so that they do not end up with a mess in their books and systems. That is what this piece is about: How to properly administer these seemingly complicated and unruly devices.
No one can explain accounting. I have some pretty crazy situations presented to me by potential clients. I say crazy and I what that means is that it is almost unbelievable that anyone would find themselves in such a mess with their business and their books.
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 is at the hand of one of my heroes.
Hospitality Saskatchewan to Host Gather Again 2023 Conference & Tradeshow
Book Excerpt from The Prosperous Hotelier - What is 'Hospitality Financial Leadership?'