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Tag : hospitality financial leadership

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Hospitality Financial Leadership - Is Your Hotel Culture Blame or Appreciation?

February 19, 2018

By David Lund In my career, I have seen both. Lots of appreciation for hard work and a challenging workplace. On the flip side a horror story of the blame for...

Hospitality Financial Leadership – Creating a Hotel Accounting Policy Manual – The Dos and Don’ts

February 12, 2018

By David Lund After recently completing a policy manual for a client, I want to share what worked for this hotel company and what could work for you. I also...

Hospitality Financial Leadership - Free Property Management Software - More Disruption?

February 5, 2018

By David Lund Our industry is ripe for all kinds of disruption. The two big disruptors today are online travel agents and home sharing services. If we look...

Hospitality Financial Leadership – Every Line Needs an Owner

January 29, 2018

By David Lund My dear mother Donna often recited her favorite sayings, especially when she wanted to make a point. She had some really good sayings, and...

Hospitality Financial Leadership - Recording Average Length of Stay

January 15, 2018

The one thing I see time and time again with clients is just how poorly their financial statements are set up. The statements almost always lack basic...

Hospitality Financial Leadership - Financial Statement Analysis and Your Hotel Career

January 2, 2018

If you google the words “financial statement analysis,” you will get a long list of definitions like this one by Wikipedia: “Financial...

Hospitality Financial Leadership - A White Paper on a 6-Month Client Workshop/Coaching Engagement – Part 3

December 27, 2017

By David Lund The following is an overview of a six-month financial leadership project that I recently completed at a full-service hotel. The project...

Hospitality Financial Leadership - A White Paper on a 6-Month Client Workshop/Coaching Engagement – Part 2

December 19, 2017

The following is an overview of a six-month financial leadership project that I recently completed at a full-service hotel. The project consisted of six...

Hospitality Financial Leadership -  A White Paper on a 6-Month Client Workshop/Coaching Engagement – Part 1

December 12, 2017

By David Lund The following is an overview of a six-month financial leadership project that I recently completed at a full-service hotel. The project...

Hospitality Financial Leadership - Testing vs. Trusting

November 20, 2017

By David Lund “All of life is an experiment, the more experiments the better.” ~ Ralph Waldo Emerson When you really want to do something, the...

Hospitality Financial Leadership - Runnin’ Down a Dream

November 13, 2017

By David Lund Yeah, runnin' down a dream - That never would come to me - Workin' on a mystery, goin' wherever it leads -  Runnin' down a...

Hospitality Financial Leadership - Four Important Things to Know

November 7, 2017

By David Lund By creating and delivering my hospitality financial leadership workshops, I learned four very important lessons. The lessons center around how...

Hospitality Financial Leadership - Using EFTEs

October 30, 2017

By David Lund If You Can't Measure It, You Can't Improve It. Management thinker Peter Drucker is often quoted as...

Hospitality Financial Leadership - Food Cost and the 80/20 Rule

October 23, 2017

By David Lund We have all heard of the 80/20 rule. But I am willing to bet most of you have not heard it in conjunction with the words "food cost."...

Hospitality Financial Leadership - The Third Pillar

September 25, 2017

By David Lund In the hotel business, there are three pillars: the guests, the colleagues and the money. They are not equal. They are not equal because we...

Hospitality Financial Leadership - Global Hotel Revenue Management

September 11, 2017

By David Lund Global is a big word and now that we have your attention I want to define global in a hotel setting. Global refers to all sources of revenue and...

Hospitality Financial Leadership – Creating Hotel Financial Policies

August 22, 2017

By David Lund Having a policy manual that covers all the important aspects of your business that relate directly to the financial function is a...

Hospitality Financial Leadership – Measuring Labor Productivity Part II

August 9, 2017

By David Lund In food and beverage, you want to get obsessed about a similar measurement like you do in the rooms division. In F&B it is “hours per...

Hospitality Financial Leadership – How to Review a Hotel Budget

July 31, 2017

Budget season is fast approaching and I am writing this article to highlight some areas to look at when you are reviewing a hotel financial budget. Maybe you...

Hospitality Financial Leadership -  Outsourcing Your Accounting and Why this is a Stupid Idea

July 24, 2017

By David Lund Stupid sounds like a harsh word. Webster’s dictionary defines stupid as, “Given to unintelligent decisions or acts,” along...

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