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Tag : david lund

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Hospitality Financial Leadership – Leadership and Technology

August 29, 2017

By David Lund “Your success in life isn’t based on your ability to simply change. It is based on your ability to change faster than your...

Hospitality Financial Leadership – Creating Hotel Financial Policies

August 22, 2017

By David Lund Having a policy manual that covers all the important aspects of your business that relate directly to the financial function is a...

Hospitality Financial Leadership – Measuring Labor Productivity Part II

August 9, 2017

By David Lund In food and beverage, you want to get obsessed about a similar measurement like you do in the rooms division. In F&B it is “hours per...

Hospitality Financial Leadership – How to Review a Hotel Budget

July 31, 2017

Budget season is fast approaching and I am writing this article to highlight some areas to look at when you are reviewing a hotel financial budget. Maybe you...

Hospitality Financial Leadership -  Outsourcing Your Accounting and Why this is a Stupid Idea

July 24, 2017

By David Lund Stupid sounds like a harsh word. Webster’s dictionary defines stupid as, “Given to unintelligent decisions or acts,” along...

Hospitality Financial Leadership - Ego is Not Part of the Recipe

July 18, 2017

By David Lund “If you want to be more than a flash in the pan, you must be prepared to focus on the long term. We will learn that though we think big,...

Hospitality Financial Leadership – Measuring Labor Productivity Part 1

July 5, 2017

By David Lund “It’s not always that we need to do more but rather that we need to focus on less.” — Nathan W. Morris In...

Hospitality Financial Leadership -  Separating Group and Local Sales in Banquets

June 28, 2017

By David Lund If your hotel has a reasonable amount of meeting space (+10,000 ft) and your banquet business is a significant contributor in your Food and...

Hospitality Financial Leadership – What’s the System?

June 21, 2017

By David Lund When we are creating financial leadership in our hotel we’re focused on the system we use. When I say "system" in this context I...

Hospitality Financial Leadership – Why Doesn’t My Director of Finance Step Up?

June 12, 2017

By David Lund Your DOF is a great accountant. They do a solid job running the accounting department and they are very efficient. Your monthly financials are...

Hospitality Financial Leadership - The Russians

June 6, 2017

By David Lund When heads of state come to visit your hotel they usually make a bit of a show. The Russians are no exception, they even bring their own...

Hospitality Financial Leadership - Creating Property Performance Commentaries

May 30, 2017

By David Lund Creating a great commentary for your owners and corporate is a monthly mainstay in almost every hotel. It can also be a large dose of drudgery....

Hospitality Financial Leadership - Share the Financials in Your Hotel or NOT

May 22, 2017

By David Lund In your hotel, you either share the financials with you leaders, the department managers or you don’t. If you already share the financial...

Hospitality Financial Leadership – Welcoming Imperfection

May 17, 2017

By David Lund To maximize your effectiveness with your leadership team around the money you would be well advised to accept the fact that it’s an...

Any Monkey Could

May 12, 2017

By David Lund A very colorful GM that I worked with many years ago, had a lot of slogans he would use to get his point across. One of my favorites is,...

The Paper Can’t Talk - “Give the Money the Proper Voice”

May 1, 2017

By David Lund In the hotel business, we have three equal pillars. The guest, the colleague and the money.  We need to realize that the 3rd pillar, the...

Flow Through – Understanding How it Works and How to Include Flow Thru in Your Financial Statements

April 25, 2017

By David Lund Flow Thru, this is my abbreviation, is a catch all phrase that measures how much made it through your business comparing one period to another....

Do Your Hotel Financial Statements Pass The Test? Part 2

April 17, 2017

By David Lund Do your hotel financial statements give you the information you need to effectively manage your hotel? Are you able to see if your profits are...

The Luggage: Humility in the Hospitality Industry

April 10, 2017

By David Lund “Servants don't know a good master till they have served a worse.”  ― Aesop, Aesop's Fables The Empress Hotel in...

Flying-by-The-Seat-of-Your-Pants – AKA No Hospitality Financial Leadership

April 4, 2017

by David Lund In most hotels, the system for forward looking financial management is nonexistent. We rely on the top line coming in and if it does we expect a...

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