article thumbnail

Hotel budget: A complete guide to hotel budgeting

MEWS

What is a hotel budget? A hotel budget is essentially your financial roadmap, aligning with your hotel’s strategic goals to guide how you’ll spend and generate money throughout a specific period (typically a fiscal year).

Budgeting 130
article thumbnail

R&CA slams Federal Government’s Budget: “Inhospitable”

Hospitality Magazine

Restaurant & Catering Australia has commented on the Albanese Goverment’s Federal Budget, stating it has “missed an opportunity to assist a sector that is already in pain” Treasurer Dr Jim Chalmers handed down the 2024-2025 Budget on Tuesday, with hospitality businesses set to benefit from just a handful of policies.

Budgeting 130
Insiders

Sign Up for our Newsletter

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

article thumbnail

Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

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?

article thumbnail

Budgeting in Hotels: Theory, Practice and Outlook 2025!

Revenue Hub

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.

article thumbnail

How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

Strategic Corporate Budgeting 🎯 Gain insights into creating and maintaining robust budgets that align with your business objectives. What You Will Learn: Cutting-Edge Revenue Optimization Techniques 🚀 Discover innovative methods to maximize your company's revenue streams and stay competitive in a dynamic market.

article thumbnail

Key Considerations for Choosing the Right RMS During Budget Season

Revfine

As budget season approaches, selecting the right Revenue Management System (RMS) is one of the most critical decisions a hotelier can make. The key to making the right The post Key Considerations for Choosing the Right RMS During Budget Season appeared first on Revfine.com.

Budgeting 122
article thumbnail

Methods in the Madness: Insiders share their budgeting approach

HotStats

Budgeting is like training for an Olympic marathon. Days are spent creating a plan to address weaknesses, build on strength and endurance, and hedge against unfortunate events. Money is earmarked for activities that hopefully will generate income or sponsorships to procure better equipment.