payroll

/Tag: payroll

payroll

Hospitality Financial Leadership – Igniting Your Financials by Putting Hours of Work in Your P&L

David Lund | September 4, 2018

By David Lund In hospitality we all know that payroll is by far the largest expense and therefore it has the biggest negative impact on profitability. Turn this around and know that finding ways to be more efficient with payroll can have a big impact on labor costs and a positive impact on your hotel's bottom line. If you don't have hours of work in your monthly P&L, you are missing a massive opportunity to better understand payroll and productivity leading to ways to manage your business better. You know what they say, you can't manage what you can't measure. Putting hours of labor into your financial statements is just good housek...

Contract and Non-Management Employee Payrolls Rise in 2017

Robert Mandelbaum | August 20, 2018

By Robert Mandelbaum As the pace of revenue growth continues to decelerate for U.S. hotels, the capability of hotel operators to control costs will determine the ability of a property to increase profits from year to year. According to the 2018 edition of Trends® in the Hotel Industry, total operating revenue increased by just 2.0 percent in 2017 for the average hotel in the survey sample. Fortunately, by limiting the growth in operating expenses to 1.9 percent, managers at the Trends® properties realized an increase in gross operating profits (GOP) for the year. Unlike 2016, it was non-labor related costs that were the primary ...

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

David Lund | 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 this sense is holding a large hand of cards and the game is suddenly over and you must cash out all of those face cards and tens. What happens in the hotel business when the phones stop ringing? Who must pay the piper? It has been seven great years in most markets in North America that the hotel sector has been strong and growing year over year. Some markets have produced several years of strong single and even double-digit RevPAR growth. With the great RevPAR growth comes solid pr...

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.