hotel finances

This Week’s Article by Guest Author Amin Himani, Senior Manager, Revenue Strategy at Coast Hotels Corporate Office in Vancouver, BC

This is a great article on revenue management and it’s also very timely.

I had the pleasure of having Amin as a student recently in my Hospitality Financial Leadership course at Royal Roads University.

Enjoy the read.
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Listen to the podcast with Sarah Dandashy (Ask a Concierge). The financial side of hospitality isn’t as sexy (to some) as other parts, but it is, of course, what determines success and that’s super sexy! In the hotel world, knowing the numbers translates to individual and organizational success.

KEY POINTS

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I am a big fan of the Uniformed System of Accounts for the Lodging Industry (USALI), or as she is affectionately called “You Sally.” It has been the guide that our industry uses to properly present financial information for a long…long time, in fact almost 100 years. It lays out the format for our financial statement presentation and essentially…

As you know the front office is the command post for your operation, and it’s also the point where all the receipts come through. Making sure you have solid internal controls at the desk is not only good business, it’s mission-critical. Without these safeguards you are wide open and as someone once…

In this hard hitting interview you will learn what to tell your owner about how you’re going to successfully manage their asset. What are the leadership strategies you will use to generate a superior return on their investment? How will you show up as the number one and instill confidence and lead your team around the money piece?

If you’re…

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