Hospitality Finance - From Daily Numbers to Strategic Decisions

Synopsis

Navigating the financial intricacies of the hospitality sector can be daunting, but "Hospitality Finance - From Daily Numbers to Strategic Decisions" transforms this challenge into an opportunity for growth and profitability. Designed for hotel general managers, department heads, revenue managers, and ambitious finance students, this practical guide cuts through jargon to provide clear, actionable insights. It bridges the gap between day-to-day operational finances and high-level strategic decision-making, empowering you to understand your hotel's financial health and leverage it for success. This book offers a comprehensive journey through the core financial principles of hotels, from understanding revenue streams and dissecting financial statements to mastering budgeting, forecasting, and key performance indicators (KPIs). Through real-world examples of hotels ranging from 80 to 250 rooms, you'll learn to apply concepts like cost behavior, labor economics, and menu engineering with confidence. Each chapter is packed with practical tools, including step-by-step walkthroughs, common mistake avoidance, mini case studies, checklists, review questions, and team assignments. With over 10 essential templates and a focus on global best practices, "Hospitality Finance" equips you with the knowledge and confidence to manage your hotel's finances effectively, drive profitability, and make informed strategic decisions that lead to sustained success.