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PLANNING FOR PROFITS - An Overview to Effective Budgeting

publication date: Feb 9, 2016
 | 
author/source: Dr. John J Hogan CHA CHE MHS
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PLANNING FOR PROFITS -- An Overview to Effective Budgeting

 

Lodging industry profits have always been measured by cost per occupied room; yet many owners and General Managers have incomplete information of their hotels’ specific costs per room, or more importantly, what it costs for a room to remain unsold.

This guide includes a list of definitions of the categories and assumptions that should be helpful to immediately understand cost centers in more detail and to take action to improve profitability. This program is designed to demonstrate your specific cost per occupied room vs. the industry average (provided in base model), fixed and variable costs, monthly and yearly cash flows, monthly and yearly budgets and a host of other information. Lastly, PLANNING FOR PROFITS allows you to perform “What if” scenarios for enhanced forecast planning.



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