Motivating Teams: A Discussion on Leadership
One of the incredible things about the hospitality industry is that teamwork is truly at the center of our success. No one person can succeed on his or her own be it in hotel [...]
Primer on Reading Hotel Financials: Increasing Asset Value Is The Name Of The Game
Part 3: Increasing Asset Value Is The Name Of The Game Now that we have covered Operating Revenue, Departmental Expenses, Undistributed Expenses, and GOP, let’s determine how we use the hotel financial statement to [...]
Primer on Reading Hotel Financials: GOP Is More Than a Political Party
Part 2: GOP Is More Than a Political Party In the first post of this series, we introduced the concept of the Uniform System of Accounting for Hotels and then looked at Operating Revenue [...]
Primer on Reading Hotel Financials: A Three-Part Series
Part 1: These Are Funny Looking Financial Statements Among the questions we’re commonly asked is why hotel financial statements look different. The simple answer is that they reflect the actual operations of a hotel [...]
How Hotel Operations Directly Impacts Asset Value
One of the unique aspects of hotels is that in addition to being a real estate asset, they are also operating businesses. The daily performance of each moving part of a hotel directly impacts [...]
Municipalities Love Hotels
Working with local municipalities is a key part of the hotel development process. Establishing strong relationships with key players at the local level can streamline entitlements and permitting, ensure a smooth working relationship, potentially [...]