Hospitality Net

JANUARY 7, 2025

As we turn the calendar to 2025, hotel owners and operators are finalizing their annual budgets and ensuring they align with the latest market conditions. Heres how to navigate the year ahead with a combination of operational adjustments and dynamic forecasting.

Budgeting 52

Budgeting Accounting Marketing 52

Modern Restaurant Management

AUGUST 10, 2020

The Center on Budget and Policy Priorities estimates that state budget shortfalls will reach almost 10 percent in the current fiscal year and about 25 percent in fiscal year 2021. A good practice for restaurants is to move these trust fund monies into separate bank accounts. On July 13, the U.S.

Budgeting 180

Budgeting Accounting Information 180

Hospitality Net

MAY 16, 2023

PVNG enterprise accounting and Targetvue budgeting and forecasting solutions from Aptech fit the bill for their ability to affordably give operators the insight, flexibility and control they desired.

Accounting 92

Accounting Budgeting 92

Modern Restaurant Management

DECEMBER 16, 2024

Budgeting Smart : Review your benefits costs and the financial impact of anticipated changes so you can set realistic financial expectations for 2025. Reviewing Unemployment Tax Rate s: Stay updated on tax rate changes and budget for them in 2025. Meeting Filing Deadlines : Submit W-2s and 1099s by January 31 to avoid penalties.

Scheduling 179

Scheduling Training Communication Budgeting 179

Hospitality Net

SEPTEMBER 21, 2023

A hotel budget is a financial plan that outlines the projected income and expenditures for a specific period, usually one fiscal year. The budget also accounts for all types of expenses, including operational costs, capital expenditures, and marketing budgets.

Budgeting 97

Budgeting Accounting Book Marketing 97

Revenue Hub

SEPTEMBER 18, 2024

Budgeting in hotels is one of the core tasks of revenue management and plays a crucial role in managing operational and financial efficiency. The budget serves as the basis for financial planning, control, and decision-making. Theoretical Foundations of Hotel Budgeting A budget primarily serves to plan and control a company’s finances.

Budgeting 104

Budgeting Housekeeping Pricing Article 104

Hospitality Magazine

DECEMBER 1, 2024

Choose wines that complement the characteristics of the seafood dish, taking into account the type of seafood, cooking method, and accompanying sauces or side dishes. Other considerations Budget Budget is often aligned with occasion and can vary greatly depending on your customers’ confidence with wine.

Budgeting 130

Budgeting Pricing Accounting Magazine 130

Revenue Hub

NOVEMBER 17, 2023

In our previous article, we shared insights and advice from global hospitality experts on how to make the 2024 hotel budget process as smooth and painless as possible. Here, we share five ways to improve budget accuracy and performance in uncertain times. So, we’re able to be more aspirational,” he said. That is absolutely critical.”

Budgeting 109

Budgeting Article Strategic Planning Accounting 109

Revenue Hub

JANUARY 6, 2025

NetRevPAR takes the traditional RevPAR (Revenue per Available Room) metric a critical step further by accounting for all customer acquisition costssuch as distribution fees, marketing spend, and transaction charges. NetRevPAR: Moving Beyond Top-Line Revenue What it is ?

Budgeting 109

Budgeting Guest Satisfaction Accounting Article 109

Revenue Hub

NOVEMBER 30, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

Budgeting 98

Budgeting Pricing Accounting Article 98

Revenue Hub

FEBRUARY 15, 2024

The traditional budgeting approach is proving increasingly inadequate in today’s fast-paced and unpredictable market, where traveler behaviors, economic conditions, and competitive landscapes can shift in weeks. They can quickly pivot strategies in response to market fluctuations instead of remaining bound to an outdated budget.

Budgeting 109

Budgeting Article Pricing Marketing 109

7 Shifts

MAY 23, 2024

To help you survive and thrive, we've created a step-by-step and easy-to-follow restaurant budgeting guide. Table of Contents What is included in a restaurant budget? Why should you create a restaurant budget? Conclusion Frequently Asked Questions (FAQs) What is included in a restaurant budget?

Budgeting 88

Budgeting Bookkeeping Accounting Scheduling 88

STAAH

NOVEMBER 29, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

Budgeting 97

Budgeting Pricing Book Accounting 97

Revenue Hub

AUGUST 30, 2024

While the budget depletion column is not one of your standard columns, it is recommended as a key custom metric to focus on when optimising your Google ads campaigns. It is a value that is measured in percentage and it helps you to see the rate at which your daily or campaign budget is being used up. What are the consequences of this?

Budgeting 106

Budgeting Scheduling Article Accounting 106

Revenue Hub

SEPTEMBER 5, 2023

Planning the budget for your hotel is crucial for financial success. Subscribe to our weekly newsletter and stay up to date In this guide, we’ll break down everything you need to know about budgeting with revenue best practices in mind. You’ll need to address problem areas in your 2024 hotel budget. Let’s dive in!

Budgeting 108

Budgeting Accounting Pricing Article 108

Revenue Hub

NOVEMBER 3, 2023

For hotel owners and operators alike, the annual budget is often a gruelling and time-consuming process. Are there ways to make the 2024 budgeting process more streamlined and efficient? Start Early but Submit Late Hoteliers often complain that the budgeting process seems to start earlier every year.

Budgeting 109

Budgeting Strategic Planning Article Accounting 109

Revenue Hub

OCTOBER 13, 2023

Planning a hotel budget is a critical task that ensures the smooth operation and financial health of your hotel. This guide will walk you through the essential steps, best practices, and expert advice to help you create a robust hotel budget. Without a budget, you risk financial instability and inefficiency.

Budgeting 109

Budgeting Revenue Projections Article Maintenance 109

Modern Restaurant Management

JUNE 26, 2020

Many restaurants are looking at their 2020 budget and wondering – what now? It is time to adjust your 2020 budget, evaluate labor and food costs, update bank reconciliations and take an overall holistic look at your business model and strategy. Restaurants and bars are opening with capacity restrictions and new guidelines.

Budgeting 180

Budgeting Accounting Front of House Customer Service 180

Hospitality Net

AUGUST 30, 2023

For the last 20 years, The Peabody has relied on Aptech to automate its enterprise accounting processes. This month, the property will go live with Aptech’s budgeting and forecasting solution, Targetvue, to give its accounting team “one version of the truth.”

Budgeting 97

Budgeting Accounting 97

Hotelogix

JANUARY 5, 2025

Make a Google Ads account if you don’t have one. Set up a Hotel campaign in your account. Your hotel’s type: Fancy hotels might pay more for ads than budget hotels. It’s best to start with a budget you’re comfortable with and see how it goes. Add info about your hotel, rooms, and prices.

Book 100

Book Pricing Budgeting Demo 100

Revenue Hub

FEBRUARY 18, 2025

Without understanding which guest segments are most profitable, hotels target the wrong audiences, misallocate their marketing budgets, and miss critical opportunities to boost revenue and profit. Segmentation Criteria for Hotels To leverage segmentation effectively, hotels must define the criteria that best distinguish their guest base.

Travel and Tourism 89

Travel and Tourism Accounting Article Book 89

EATER

JANUARY 6, 2023

Spaghetti is the foundation of one of my favorite Budget Bytes recipes. Freelance-writer, no-savings-account, five-dollars-in-the-gas-tank type broke. Shutterstock. An ode to the internet’s best broke-friendly recipe blog Like many millennials, I spent much of my 20s broke.

Budgeting 98

Budgeting Blog Definition Accounting 98

Modern Restaurant Management

NOVEMBER 24, 2020

Restaurant owners are being forced to find a way to make it through winter with vastly reduced revenue, and many operators are scrambling to reallocate budgets and manage staffing to survive COVID-19. Plan for Gaps in Your Budget. That said, restaurants didn’t have COVID-19 written into their budget at the beginning of 2020.

Budgeting 230

Budgeting Communication Training & Development Marketing 230

Hotel Business

APRIL 21, 2025

Dreamscape Hospitality has appointed Jill Burgess as director, hotel accounting. With more than 25 years of experience in hospitality finance, Burgess brings expertise in accounting, budgeting, forecasting and financial analysis to the organization.

Accounting 59

Accounting Budgeting 59

Revenue Hub

NOVEMBER 21, 2024

Without proper attribution tracking, you might be allocating too much budget to tactics that aren’t contributing to conversions—or worse, missing out on opportunities to grow. However, many hotels struggle to get clear visibility into which clicks, campaigns, or channels are delivering results.

Book 107

Book Article Budgeting Marketing 107

EATER

NOVEMBER 22, 2024

For something more lightweight and budget-friendly, go for acrylic, Deek says. De Jesús Esteban Ruiz says that people should always account for a potential breakage rate even with shatterproof glassware. However, acrylic is less durable than Tritan and may not do as well in the dishwasher (even if it’s “dishwasher-safe.”)

Budgeting 105

Budgeting Special Events Accounting Marketing 105

Modern Restaurant Management

FEBRUARY 27, 2023

Businesses can run promotions, such as early bird specials, to attract budget-conscious diners and use an email database to get the word out. Use creativity to market a restaurant on a limited budget. Reviewing these numbers frequently can help to hold vendors accountable to the prices they are quoting.

Bookkeeping 189

Bookkeeping Budgeting Scheduling Accounting 189

Modern Restaurant Management

AUGUST 7, 2024

"Cutting a marketing budget creates a ripple effect that may not be felt until months down the road when the damage has already been done. " Cutting a marketing budget creates a ripple effect that may not be felt until months down the road when the damage has already been done.

Marketing 188

Marketing POS Systems Budgeting Events 188

Modern Restaurant Management

FEBRUARY 4, 2021

Provide Franchisees with an Adaptable Template and Budgeting Playbook. Providing your franchisees with a playbook to guide them through the budgeting process for their restaurant’s unique situation will engage them to lay a foundation for their success in the months and years to come.

Budgeting 203

Budgeting Document Scheduling Accounting 203

Modern Restaurant Management

MARCH 1, 2023

The best way to decrease food waste is to have accurate, up-to-date analysis, which means implementing a reliable restaurant accounting system. Also, BOH staff should establish a declining spending budget to account for weekly purchases and pinpoint how much budget remains for need-it-now food and ingredient purchases.

Back of House 171

Back of House Front of House Accounting Budgeting 171

Modern Restaurant Management

MARCH 30, 2022

Accountability down to the individual level. More accountability for who is responsible for what in an organization results from each step in a business workflow being clearly assigned to one action. If visibility is increased, then communication for employees can be more accurate. Value of Automated Workflow.

Front of House 180

Front of House Customer Service Accounting Communication 180

Modern Restaurant Management

MARCH 19, 2020

Any person with a social media account can be considered an influencer, so where should you begin? However, there are influencers who buy fake followers (bot accounts with no real person behind them) in order to appear to have a greater online presence so they can demand a higher premium for promotional services.

Marketing 213

Marketing Blog Accounting Budgeting 213

Modern Restaurant Management

DECEMBER 27, 2022

Luckily, tech solutions have become more affordable and accessible for food businesses of all sizes and budgets, allowing them to increase transparency, accuracy, safety, and quality. . Boost Workplace Accountability. Technology can boost business operations in a variety of ways. Focus on Sustainable Food Production.

Training 226

Training Budgeting Accounting Pricing 226

Modern Restaurant Management

JULY 8, 2021

Micro influencers are defined as accounts with 1,000 to 100,000 followers who are well known in their niches with a hyper-engaged audience. A smaller account is more approachable and able to better interact with followers, leading to genuine connections and relationships.

Accounting 203

Accounting Marketing Budgeting 203

Modern Restaurant Management

APRIL 10, 2024

For example, operators can boost value perception and satisfaction by implementing a barbell strategy—appealing to budget-conscious consumers looking for affordable meals as well as giving high-end customers, who are willing to pay a premium, additional options to add on.

POS Systems 196

POS Systems Back Office Operations Pricing Budgeting 196

eHotelier

FEBRUARY 15, 2024

Invisible to guests at this AAA 4 Diamond oceanfront property is how efficiently the hotel’s finance team is operating thanks to the addition of two software solutions from Aptech: PVNG Enterprise Accounting and Targetvue Budgeting & Forecasting.

Back Office Operations 130

Back Office Operations Budgeting Accounting 130

Modern Restaurant Management

MARCH 13, 2020

Do you think it is not in your budget? If providing health insurance is not in your budget, what if you were able to give them access to high-quality, truly affordable healthcare? Provide your team with access to easy, affordable tools to allow them to build a retirement account. Think again.

Budgeting 184

Budgeting Accounting 184