Hotel Management Blog

Hospitality industry news, articles, publications, trends, tips, ideas, strategies and best practices …

How to Read your Hotel Profit & Loss Statement or PnL

竞博电竞平台 www.buylvepileather.com ?Hotel Profit and Loss Statement Sample - by Xotels

As CEO of a hotel management company that has generated over €190 million in the last year, I can tell you how important it is to control every detail of your business’s finances, both on the revenue and cost side.

Hotel Management isn’t merely about strategy. There are many layers, each of which require your undivided attention. Human resources, operations, budgeting, and income and cost control are but a few areas which necessitate focus, as well as the requisite knowledge and skill. But how can you efficiently assess the business areas that generate maximized profits?

To accomplish this step and provide the best platform from which your hotel will succeed, the key is to prepare and execute a carefully structured profit and loss statement. In this article as we review a Hotel P&L sample based o the Uniform System of Accounts for the Lodging Industry (USAL), a rich resource that provides numerous key insights for hotel managers.

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How to Generate Ancillary Revenue in your Hotel or Resort

Hotel room with landscape views

What can you do in your hotel or resort to generate additional income? It often sounds easier than it is in reality. We have been brainstorming and have come up with some great hotel management tips to sell extra services. And then there is the next challenge with upselling and cross-selling. There are several extra services to offer in our hotels but how do you know what is most profitable. Which ancillary revenues bring more income while require less effort in terms of investment, time spent and people dedicated?

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What should Hotels Learn and Copy from AirBnB

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The hotel industry generally suffers from a victim mentality. AirBnB is the big bad wolf that is not playing according to our rules. Them and other sharing economy business models are bringing damage to our hotels, and it isn’t happening in a fair way. But let's turn the game around and find out what we can learn from them to become better at our own business, hotel management, a.k.a. hospitality … Let’s have a look at their strategies to find some disruptive ideas and see how we can apply them in our hotels. Ready?

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