Data reveals that more than 1 in 10 people leave a job within 18 months
This is not the case for all GMs, but it is definitely the case for many. The reason is simple: the GM has not been given any formal accounting training and they are intimidated by the numbers and their lack of knowledge. Because of this they tend to stay out of the way, so to speak, when it comes to digging into what is really going on with the numbers and the accounting department.
In response to a survey, 75% of accommodation partners said they are at risk of having to increase rates; the estimated rise being between 10% and 25%. Rate increases are the preferred method for 70% rather than a possible energy surcharge.
The word 'expenses' needs to be defined and refined for this article. Expense broadly refers to any cost a business has including payroll, goods and services and cost of goods, 'the cost required for something; the money spent on something.' That is its definition according to Oxford Dictionaries.
In this piece, I am going to explain a strategy you can use to get your team to produce a great monthly commentary. Not only will you have the information you need to explain to the owner and brand what is going on, you will have a process to follow each month for continuous improvement in your hotel. That is the name of the game with commentaries and it is what this piece is all about.
The Olinger Group identifies luxury travel trends among household income levels and across industries
Preparing a five-year financial plan for your hotel might sound daunting, but it is all in your head. Let’s lay it out. You are either dreaming about a business that does not exist yet and you need a plan, or you are up and running and you want to look into the future and pave a path forward. Either way you need to same tools.
Euronews worked alongside key players in the travel industry to map out travel and tourism pathways for 2023. Co-authored by travel experts and journalists Lorna Parkes and Damon Embling, the report has identified eight trends that will shape the industry from 2023, including virtually enhanced destinations, eco-friendly travel, and nature-inspired holidays.
Patrick McClary is a self-made star of the food and beverage trade. He knows and has seen it all. No problem or challenge is too big or too small. He can help you turn the page and make day-old bread sing again. Have a read and do yourself a favor.
In this piece I am going to share one of the best revenue-generating and guest-pleasing ideas that my clients have come up with. It’s something that just about any hotel can do and it costs nothing to create. I talk about this idea and several others in my live work, but it was a client who experienced the opposite that prompts me to write this. More on that at the end.