hotel P&L

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At Hotel Financial Coach I help hotel leaders and teams with financial leadership coaching, webinars and workshops. Learning and applying the necessary financial leadership skills is the fast track to greater career success and increased personal prosperity. I significantly improve individual and team results with a proven return on investment.

By Guest Author, Patrick McClary – Executive Chef, Caesars Windsor

If you have an idea for a story/blog drop me a note and let me know what you want to write about and maybe we can publish it.

When people hear the term food cost, they generally think…

One of my mother’s favorite sayings: Many hands make light work

My dear mother Donna often recited her favorite sayings, especially when she wanted to make a point. She had some really good sayings and several have stuck with me. One of them I relate to hotel financial leadership. Her saying was “Many hands make light work.” How…

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

“Financial statement analysis (or financial analysis) is the process of reviewing and analyzing a company’s financial statements to make better economic decisions. These statements include the income statement, balance sheet, statement of cash flows, and a statement…

As the Regional Operations Analyst in the mid-90s in the West, my boss and I reviewed the financial performance of all of our hotels pretty much on a quarterly basis. The reviews consisted of a trip to the hotel, a tour of any capital projects, and a sit down with the core executive team to review the financials.

We quickly…

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 ignore the third pillar and we do so at our own peril and out of a bad habit.

We are lazy…