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Tag : hospitality financial leadership

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Hospitality Financial Leadership: Credits to Cost of Sales in Food & Beverage

July 16, 2018

By David Lund Giving the proper credits to your food and beverage operation is an important task. You want to ensure it is done consistently and fairly. This...

Hospitality Financial Leadership: Why Hotel Brands and Franchisers Secretly Love the OTAs

July 9, 2018

By David Lund I know we all hear the battle cries every day in our industry, but what’s really going on with hotel brands, franchisers, the online...

Hospitality Financial Leadership: Top 10 List – How to Create More Hospitality Financial Leadership

July 2, 2018

By David Lund 1. You can increase the way you lead your team financially. Create an environment that has your managers working together on the...

Hospitality Financial Leadership: The Busy Hotel Executive

June 18, 2018

By David Lund Coaching people around the financials in hotels is what I do. I accomplish this by one-on-one coaching, usually on the phone or through Skype,...

Hospitality Financial Leadership - Business Acumen and Women

June 11, 2018

By David Lund I may have caught your attention with this potentially explosive title, so I hope you will read this and either help change this inside your...

Hospitality Financial Leadership: The General Manager’s Yardstick

May 29, 2018

By David Lund I have seen a lot of different management styles over my 35 years in hospitality. The one I am going to write about in this piece was not the...

Hospitality Financial Leadership: The Three Dimensions of Delegation

May 21, 2018

By David Lund Delegation has three dimensions that are powerful tools. Delegation is also quite often misunderstood. In this article I am going to explain my...

Hospitality Financial Leadership: Why Teaching Accounting in Hotel School Is a Waste of Time

May 14, 2018

By David Lund I have a dream. My dream is that the numbers, the numbers that so many managers agonize over in our industry, are just as accessible as guest...

Hospitality Financial Leadership: Beverage Cost or Contribution Margin?

May 7, 2018

By David Lund We all heard about it every month. The beverage cost! And it usually was not very pretty. Seemingly always too high, and it typically created...

Hospitality Financial Leadership: Hotel Current Assets – What You Need to Know

April 30, 2018

By David Lund When we cross the bridge in the hospitality financial world to the greater business world, the concept of an asset and how it is used comes full...

Hospitality Financial Leadership: Fixed/Variable Costs and Room Revenue Management

April 23, 2018

By David Lund Lately, I have spoken to several revenue managers who have told me how much their cost is to take a room—to make that last sale of the...

Hospitality Financial Leadership - Catch Me If You Can: It’s a Game of Confidence

April 16, 2018

By David Lund Frank Abagnale is arguably the world’s most famous modern-day impostor. Leonardo DiCaprio played his character in the 2002 movie directed...

Hospitality Financial Leadership - Management Incentive Plans

April 9, 2018

By David Lund Recently I have been working with a client who has four hotels and we worked on putting together an incentive plan for his executives. This is a...

Hospitality Financial Leadership - The OTA Distraction – Pushing Rather Than Pulling

April 2, 2018

By David Lund You cannot go a day online in the hotel community without seeing a ton of OTA related discussion. Hoteliers are like scared kittens when it...

Hospitality Financial Leadership - Creating and Using Your Own Labor Productivity Tools

March 26, 2018

By David Lund With major wage increases in many jurisdictions, it is more important than ever to have a system for planning and measuring labor productivity...

Finding & Recruiting Talent in Hospitality: Never More Than Two Degrees of Separation

March 19, 2018

By David Lund Finding good people in our industry is a tough job, especially in certain economies. It is extra tough when you are looking for a particular...

Hospitality Financial Leadership - How to Read Hotel Financial Statements and The Link

March 12, 2018

By David Lund The first thing you need to know about reading a hotel financial statement is there are basically two different statements you will want to get...

Hospitality Financial Leadership - Who Has ALL the Risk and Why?

March 5, 2018

By David Lund In the hotel business, we have lots of stakeholders: brands, managers, executives, and owners. But one has by far the biggest risk. The risk in...

Hospitality Financial Leadership - Create the Monthly Financial Circle!

February 26, 2018

By David Lund It’s A Circle – Create the Monthly Financial Circle! Practice is what we are missing. Practice with the financial piece is somehow...

Hospitality Financial Leadership - Is Your Hotel Culture Blame or Appreciation?

February 19, 2018

By David Lund In my career, I have seen both. Lots of appreciation for hard work and a challenging workplace. On the flip side a horror story of the blame for...

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