Financial Budget

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Financial Budget

Hospitality Financial Leadership: How to Prepare a Financial Budget

David Lund | July 22, 2019

By David Lund Tis the season and most hotels are already well under way with their annual grunt work to prepare a 2020 plan for the regional and corporate teams to review and then it is onward to ownership seeking their approval. In most hotels, this process is a protracted drawn-out marathon of such epic duration that it leaves a streak of several weeks, if not months, for some to endure. Revision after revision is the norm and everyone along the path squeezes a little more until there is nothing left to give anymore. When we consider the goal of the budget it is pretty simple. Create a plan for the coming year that will provide eve...

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