Accounting and Financial Analysis in the Hospitality Industry
By Jonathan A. Hales

Hospitality Manager Takeaways

  1. Weekly forecasting of revenues and wages for the next week is a critical factor in maximizing revenues, controlling expenses, and maintaining productivities.

  2. Volume rooms sold and customer counts is the starting point of all forecasts.

  3. There is a direct relationship between revenue volume and variable expenses.

  4. Forecasting is primarily a management tool that has a major impact on maximizing financial performance.

Copyright Elsevier Inc. 2005 under license agreement with Books24x7
< Previous Excerpt Next Excerpt >

UNLIMITED FREE
ACCESS TO THE WORLD'S BEST IDEAS

SUBMIT
Already a GlobalSpec user? Log in.

This is embarrasing...

An error occurred while processing the form. Please try again in a few minutes.

Customize Your GlobalSpec Experience

Category: Enterprise Asset Management Software (EAM)

Select Your Free Newsletters

Industry Newsletters

Select Your Free Product Alerts

Finish!
Privacy Policy

This is embarrasing...

An error occurred while processing the form. Please try again in a few minutes.