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Tag : david lund

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Hospitality Financial Leadership: What Do Indy Car Racing and the Hotel Business Have in Common?

May 20, 2019

By David Lund I am a big fan of professional car racing. I follow the major series; Formula One, NASCAR and my favorite times 10 is Indy Car. When I...

Hospitality Financial Leadership: Engage Their Hearts and Minds First

May 13, 2019

By David Lund Getting your hotel leadership team excited about accounting is like someone thinking it’s fun to go to the dentist. Your average person...

Hospitality Financial Leadership: The Financial Forecast Disconnect and How to Correct It

May 6, 2019

By David Lund When I work with hotel clients around their financial leadership it’s often centered on getting the team to do their monthly financial...

Hospitality Financial Leadership: Investing in Financial Leadership in Your Hotel

April 29, 2019

By David Lund CFO to CEO: “What happens if we invest in developing people and they leave?” CEO: “What happens if we don’t and they...

Hospitality Financial Leadership: Negative Flow Thru

April 22, 2019

By David Lund One of the most read articles I have written is on the topic of flow thru and how to use it in your financial statements. Understanding flow...

Hospitality Financial Leadership: Nobody Gets to Be Wrong, Everyone is Wrong, No One Gets to Be Right, Everyone is Right

April 15, 2019

By David Lund I use this quote to start many of my workshops. To me it’s the way I want the participants to stand in their individual power during our...

Hospitality Financial Leadership: OH, BROTHER

April 8, 2019

David Lund It was early October 1987. I was newly married and questioning my hotel career plans. I aspired to be a general manager, but this hotel environment...

Hospitality Financial Leadership: Hotel Finances for Dummies

April 1, 2019

David Lund My primary responsibility as the head of the finance and accounting departments in the hotel was to ensure the books were clean and balanced. What...

Hospitality Financial Leadership: RevPAR vs. GOPPAR and Why We Need a New Champ

March 25, 2019

David Lund I have been around awhile and it’s not like I’m ancient or anything, but I have seen some BIG changes in how we as an industry look at...

Hospitality Financial Leadership: Understanding the Concept of Owner Spend

March 18, 2019

The hotel business is unique with owners, brands and assets all vying for their individual needs and attention. All the while this delicate balance has some...

Hospitality Financial Leadership: The Next Big Thing

March 11, 2019

David Lund For almost 10 years our industry has been a rocket ship of top line growth driven almost exclusively by big gains in RevPAR driven by solid...

Hospitality Financial Leadership: Contra or Barter Exchanges – How to Record Them and Some Tips

March 4, 2019

David Lund Contra, barter, trade outs, exchanges – they are all the same thing. Exchanging goods and or services is older than currency and it's...

Hospitality Financial Leadership: She Said She Was Born Without the Financial Gene

February 25, 2019

The following is a recap of a single coaching session which turned into a coaching relationship with a client. For this article I am going to call my client...

Hospitality Financial Leadership: Roger Penske & The Hotel PMS

February 18, 2019

By David Lund I had a chance meeting with Roger Penske in the parking lot behind the paddock in October 1994 at the Indy Car Grand Prix of Monterey in Laguna...

Hospitality Financial Leadership: City/Region Wide Supply and Demand Analysis

February 11, 2019

By David Lund When you are preparing your budgets, an incredibly valuable tool is what I refer to as the “citywide supply and demand analysis.” I...

Hospitality Financial Leadership: The 5 Hidden Costs of Being Branded

February 4, 2019

By David Lund Marriott. Hilton. IHG. Wyndham. Choice. For years these chains have publicized the advantages of working with them: advanced loyalty programs...

Hospitality Financial Leadership: Earned and Unearned Revenues – Understanding the Difference

January 28, 2019

By David Lund Just like baseball has an unearned run as a scoring feature, in business we have unearned revenues. In this piece I will discuss the difference...

Hospitality Financial Leadership: Bring Multi-Tasking to an End for Hotel Leaders

January 21, 2019

By David Lund I am going to begin this piece with a quote because I know there is BIG TIME pushback on the idea of multi-tasking. Being so popular in our...

Hospitality Financial Leadership: Understanding the Importance and Use of The Reserve for Capital Replacement

January 14, 2019

By David Lund The concept for the use of the reserve account is important to understand. It is also essential that hotel operators ensure the reserve is...

Hospitality Financial Leadership: The Matching Principle

January 7, 2019

By David Lund I tell my Introductory Hospitality Financial Leadership Workshop participants that the concept behind the matching principle is “the most...

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