Hotel Accountant Services

Hotels will depend on a mixture of income flows, room rental, food, bar, and possibly “other” such as function facilities, gym, pool, or spa. Hotels are at the mercy of their location and the “star” system as to the how attractive they look to potential customers and the rates they can charge, which will also drive the levels of investment in the interior design and maintenance.

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Managing a hotel is characterised by:

• High capital costs

• Multi-strand income flows

• Large holding stock values

• High labour costs

• Variable demand

• High repair and maintenance costs

• High marketing costs

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The makeup and scale of each of these issues will vary from one hotel to next depending on the market sector and location.

To be of real value the Accountant must understand the hotel industry and the pressures that exist for the operator.

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At Hospitality Accounting Solutions, we understand this industry and will help you improve performance with the following:

• By ensuring that the right things are being measured and monitored.

• By building an appropriate operating budget that sets a baseline from which cash flow needs can be projected.

• By monitoring performance and preparing monthly reports which highlight variances and offer suggested remedies.

• By constantly monitoring performance against budget and updating cash flow projections to ensure management is better informed as to when to provide promotions or initiate cost cutting.

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