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Tag : hospitality financial leadership

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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: 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...

Hospitality Financial Leadership: The Top 10 Interview Questions About The Hotel’s Finances for a General Manager and the Best Answers

January 2, 2019

By David Lund Interviews are tricky, for both the candidate and the interviewer. A GM’s job interview is a challenge for the incumbent because they need...

Hospitality Financial Leadership: OTA’s and How Hotels Can Best Use Them

December 17, 2018

By David Lund A lot gets said about OTA’s and most of it is negative coming from the hotel world. I get it on one hand as I was the one having to...

Hospitality Financial Leadership: What Is Leadership?

December 3, 2018

By David Lund Leadership can be a confusing application. Just google leadership and you will get so much information it can make your head spin. I am going to...

Hospitality Financial Leadership: Going Down the Road – Part 1

November 26, 2018

By David Lund This title belongs to a classic 1970 Canadian movie about two guys from Nova Scotia, Joey and Peter. They moved to Toronto to seek their fame...

Hospitality Financial Leadership: Expectations vs. Agreements

November 19, 2018

By David Lund In life, few things make us less productive and more distant than other people’s expectations of us. Expectations are everywhere, at work...

Hospitality Financial Leadership: What’s Missing With Labor Planning Tools?

November 12, 2018

By David Lund I’m looking for an end to end solution to labor planning and I have yet to see one that brings it all home. Let me explain what I mean....

Hospitality Financial Leadership: Why OTA’s Are Uber Successful

November 5, 2018

By David Lund Have you ever wondered why we all hear so much complaining and downright all-around annoyance being expressed from hotels about the on-line...

Hospitality Financial Leadership: Trading Places

October 29, 2018

Circa 2009. Late September. I’m the regional controller for five hotels. Sitting at my desk minding my own business, doing my own work when the phone...

Hospitality Financial Leadership – Understanding RevPAR and RevPAR Index

October 15, 2018

RevPAR and RevPAR index are different and I’m going to explain them both in this article. Let’s start with RevPAR It is the cornerstone of the...

Hospitality Financial Leadership: Your Department Managers Really Want to Do Their Monthly Financial Forecasts

October 8, 2018

By David Lund You probably read the title and said to yourself, “No way, that’s a load of BS. There is no way my managers want to do their...

Hospitality Financial Leadership: Understanding Liabilities

October 1, 2018

By David Lund When I do financial leadership workshops with hotel teams we often talk about liabilities. I tell my audience that I know for a fact that each...

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