hotel profit and loss

I help hotels manage their profits more efficiently and in the hospitality world, there are only two main cost types that need a system and a strategy to properly control them. The two culprits are payroll and expenses. In this piece, I am going to talk about expenses, namely a process for…

My Balance Sheet Accounts Can Go a Month Without Being Completely Reconciled!

It is the worst lie financial leaders can tell themselves. Nothing is more important than the health of your books. If your books are not caught up and if your account reconciliations are not clean and up to…

Hands down one of the best experiences I ever had in my career was being part of the team that reviewed the financial performance of the hotels in my region. The reason I enjoyed it so much, and have such great memories, is because I learned so much at each one and…

Getting your hotel leadership team excited about accounting is like someone thinking it’s fun to go to the dentist. Your average person wants nothing to do with it because they have a predisposed notion that it’s yucky, boring and better left for someone who has a hard time walking and talking at…

“Nobody Gets to Be Wrong, Everyone is Wrong, No One Gets to Be Right, Everyone is Right”

I use this quote to start many of my workshops. To me, it’s the way I want the participants to stand in their individual power during our time together. It’s also how I…

I have been around awhile and it’s not like I’m ancient or anything, but I have seen some BIG changes in how we as an industry look at numbers and what numbers we focus on. What’s important and what people are talking about for metrics is always changing—albeit slowly. Inside the current look…