article thumbnail

RKS Hotels Group streamlines accounting processes for its Alberta Canada Properties

eHotelier

The enterprise accounting solution will automate all general ledger, accounts payable, statistics, financials, and bank reconciliation processes in the cloud for the Four Points by Sheraton Edmonton South and the Travelodge by Wyndham Edmonton West hotels.

article thumbnail

Luxury San Francisco Hotel Simplifies Budgeting with Updated Accounting and Forecasting Solutions

Hospitality Net

Business at the Hotel Nikko San Francisco is booming, especially since the property secured a spot on Forbes’ 2022 list of the 13 best hotels in San Francisco.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Hotel Budgeting 2024: Improve Performance in Uncertain Times

Revenue Hub

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.”

article thumbnail

Account for ‘The Invisible Guest’ Phenomenon

Modern Restaurant Management

They accounted for more than 80 percent of all restaurant transactions during those days. Consumers discovered the ease and convenience of ordering through these apps – and many have now welcomed that convenience into their busy lifestyles and will often use a delivery service as one of their mealtime options.

article thumbnail

Hotel Budgets: Things to Keep in Mind When Budgeting for 2023

Revenue Hub

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.

article thumbnail

Best Steps and Practices to Create a Robust Hotel Budget

Revenue Hub

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.

article thumbnail

Expanding Your Business? Seven Tips to Improve Cash Flow to Fund a New Location

Modern Restaurant Management

Restaurant365’s State of the Industry Customer Survey shows that 60 percent of surveyed customers plan to expand their businesses in 2023 despite expected increased labor and food costs. Businesses can run promotions, such as early bird specials, to attract budget-conscious diners and use an email database to get the word out.