budget management
Hospitality Financial Leadership: The First Fifty
David Lund | June 13, 2022
By David Lund As I write this piece, I am proud to say I am 58 years young. So far, my life has been great. Many challenges to overcome like anyone and many bumps in the road for sure. Someone once said that success is simply going from one disaster to the next and the trick with that is no stopping to lament on the carnage left behind. That might be a little tongue and cheek, but you get the point. Things happen to us all and our ability to move on and keep going without the permanent thoughts about what happened and why, I believe is the key to my life. That does not mean I do not learn from my mistakes, but it does mean I go easy on ...
BirchStreet Systems Hires Key Strategic Executive Chris Orr as Chief Operating Officer
BirchStreet Systems | February 13, 2020
Seasoned executive focused on delivering successful outcomes BirchStreet customers and partners. With more than 25 years of experience, Orr has a consistent track record of creating and scaling complex operational teams across organizations while delivering optimal success to internal and external stakeholders. At Birchstreet, Orr will champion, orchestrate and advance Customer Success and Customer Support, as well delivering immediate value and great experience for customers and their locations. “Chris is a strategic executive and a visionary leader,” said Steve Markle, CEO at BirchStreet Systems, “He is also ready and able to...
Hospitality Financial Leadership: Controlling Food Cost – Top 10 List
David Lund | November 11, 2019
By David Lund Food cost is a never-ending battle in a war that does not end. You can never take your foot off the gas, if you do you will slow down. When you slow down in the food cost world it is costly. Back in the day I cut my teeth as a receiver, F&B cost control clerk and ultimately an F&B cost controller. Here is my top 10 list of food cost control strategies you can either put in place, re-commit to doing, or ask yourself why it is not already being done.😊 Shop Around Check Your Receiving Lock it Up Menu Costings Embrace Contribution Margin Separation of Duties After Hours Invoice Approval ...
Hoteliers – Make the Most of Your 2019 Tech Budget
Magnus Friberg | October 1, 2018
By Magnus Friberg Autumn isn't the only season that is taking shape right now — for hoteliers, budget planning season is fast approaching. Budget management is always top of mind for hoteliers, but no time more than now, as CFO's and Controllers work to predict expenses and allocate spend for the upcoming year. The question on everyone's mind becomes — where will 2019 investments go? Renovations? Technology? Staffing? Marketing? FF&E? During the budgetary process, there are a number of variables to consider. Primarily, hoteliers tend to focus on guest-facing CAPEX initiatives in the form of property updates — think...
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