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Hotel budget: Steps in the budgeting process for hotels

SiteMinder

What is a hotel budget? A hotel budget is a financial plan that outlines the projected income and expenditures for a specific period, usually one fiscal year. It serves as a financial blueprint, detailing various revenue streams such as room bookings, food and beverage sales, and ancillary services.

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Hotel accounting: Your property’s comprehensive guide

SiteMinder

What is hotel accounting? Hotel accounting is the process of recording and maintaining the financial records and performance of your hotel business. Good accounting makes the finances of your hotel easy to understand for management and other stakeholders – so they can make informed decisions. room sales). room sales).

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A comprehensive overview of job positions within a hotel

SiteMinder

Duties include greeting guests, making bookings, taking phone requests and managing complaints. From handling complaints and supervising staff to scheduling maintenance and managing budgets, this role oversees all aspects of hotel operations. Accounting manager. This is arguably one of the most important hotel positions.

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How Legacy Systems Can Limit Hotel Revenue Potential

Revenue Hub

In the context of hotels, this might include room booking systems, customer relationship management (CRM) software, or point-of-sale (POS) systems that have been in place for many years. For instance, if a hotel’s booking system cannot integrate with the latest online travel agencies (OTAs), it misses out on revenue potential.

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The importance of a user-friendly hotel management software for owner-manged independent properties

Hotelogix

For small hotels operating on tight budgets, these expenses can be prohibitive. It means they primarily maintain an Excel Sheet to keep track of guest records, availability, finances, accounting, etc. High-end hotel management software or hotel property management systems (Hotel PSM) have a hefty price tag. So what do they do? 

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A guide to hotel departments, operational areas and building functions

SiteMinder

Taking reservations or bookings over the phone. Assisting guests with changes to their bookings. Making restaurant reservations and booking taxis on behalf of guests. From hiring all staff to scheduling maintenance to creating new revenue management strategies , the hotel management team is extremely busy.

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Five Benefits of Outsourcing Your Restaurant’s Digital Marketing Efforts

Modern Restaurant Management

Customers want the ability to order online, set up delivery, view seating, and book tables through the convenience of a mobile phone. The great news is that an effective digital marketing strategy can be designed and implemented to fit just about any marketing budget. Google Rankings and Google My Business.

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