Hospitality Financial Leadership: EFTEs, Productivity Measurements – Why Use Both
David Lund | October 19, 2020
By David Lund Most hotels measure payroll as a percentage of revenue or, as it is commonly referred to, labor cost percentage. This is not helpful. Why, you ask? Well, first of all, if sales magically increase because of an increase in the average room rate or average cover, your labor cost will automatically improve. Did anyone actually do anything better with the payroll? No. Or, if there is an increase in wages due to an outside force like the minimum wage increased, then your labor cost will suffer and did anyone actually do anything negative? No. So you see the limitations of labor cost percentage. Let me introduce the two differen...
Appointments/People on the Move
All Things Independent
STR Weekly Insights: 19-25 March 2023
Cybersecurity Job Postings in Travel and Tourism Industry Up by 54% YoY in 2022
With Summer Travel on the Horizon, 7 in 10 Americans Are Ready to Roam Despite Economic Challenges
Who Are the Winners and Losers From ChatGPT?
As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.