Tag Archives: forecasting

Business record keeping and what you should do

Knowing where your skills lie is a key part of making your business work efficiently. Everyone is good at what they do, whether you are a plumber with 20 years’ experience of plumbing, or a farmer with detailed knowledge of running a dairy herd. Being aware of your own talents is important, and when it…

Business record keeping and what you should do

Knowing where your skills lie is a key part of making your business work efficiently. Everyone is good at what they do, whether you are a plumber with 20 years’ experience of plumbing, or a farmer with detailed knowledge of running a dairy herd. Being aware of your own talents is important, and when it…

How to change the direction of your business (and stay profitable)

Changing the direction of your existing business is challenging, hard and time-consuming work – and certainly not an enterprise for the faint hearted! But, on the flipside, when a chance is carried out well it can also be a highly rewarding and profitable move for you and your business. How, then, do you decide if…

How to change the direction of your business (and stay profitable)

Changing the direction of your existing business is challenging, hard and time-consuming work – and certainly not an enterprise for the faint hearted! But, on the flipside, when a chance is carried out well it can also be a highly rewarding and profitable move for you and your business. How, then, do you decide if…

Comparing your hotel to industry standards

We’ve talked at length about how your Hotel business needs to track and review its occupancy rate and manage its profit centres with a view to improving efficiency and profitability. But knowing the overriding health of your hotel cannot be judged purely through internal measures – it is also extremely valuable to compare your own metrics against…

Comparing your hotel to industry standards

We’ve talked at length about how your Hotel business needs to track and review its occupancy rate and manage its profit centres with a view to improving efficiency and profitability. But knowing the overriding health of your hotel cannot be judged purely through internal measures – it is also extremely valuable to compare your own metrics against…

How to manage your hotel profit centres

Being in control of your finances is one of the key ways to ensure your Hotel actually turns a profit. Hotels have a number of different income streams. It is, therefore, essential to analyse the income from these different income streams and match the associated expenditure with the income e.g. effectively create distinct ‘profit centres’…

How to manage your hotel profit centres

Being in control of your finances is one of the key ways to ensure your Hotel actually turns a profit. Hotels have a number of different income streams. It is, therefore, essential to analyse the income from these different income streams and match the associated expenditure with the income e.g. effectively create distinct ‘profit centres’…

Are monthly figures enough for your hotel business?

Luca Pacioli, the Franciscan friar and mathematician who created double-entry bookkeeping, said, “Frequent accounting makes for long friendships”. And this saying is equally as important in the 21st century as it was back in 1493. If you’re looking to run a successful hotel or guesthouse, it is vital that your finances are properly monitored and…

Are monthly figures enough for your hotel business?

Luca Pacioli, the Franciscan friar and mathematician who created double-entry bookkeeping, said, “Frequent accounting makes for long friendships”. And this saying is equally as important in the 21st century as it was back in 1493. If you’re looking to run a successful hotel or guesthouse, it is vital that your finances are properly monitored and…