- 168 pages
- English
- ePUB (mobile friendly)
- Available on iOS & Android
The Practical Guide to Understanding and Raising Hotel Profitability
About This Book
The Practical Guide to Understanding and Raising Hotel Profitability offers a comprehensive, easy-to-follow breakdown of how to understand profit and loss accounts for hotels. It offers practical advice on how to maximise the profits of this customer-facing business and improve performance results.
Chapters cover every aspect of the profit and loss account including marketing, accommodation, food and beverage sales, quality, budgeting, event sales, and all the corresponding costs involved. It explains all the relevant KPIs and industry quirks within the profit and loss document as well as industry benchmarks to equip the reader with the skills to attend high level meetings, complete finance-based assignments and ultimately run their own business. Valuable tips from leading professionals within the industry are included throughout, giving advice on how to improve hotels' financial results and positively influence net profit through everyday actions.
Packed full of practical case studies and written in an easy-to-read-style, this book is essential reading for hospitality students and current hospitality and hotel managers.
Frequently asked questions
Chapter 1
Understanding and raising profits in hotels
1.0 Introduction
1.1 What is a profit and loss account?
Revenue/sales | |
Accommodation | 1,150,000 |
Food | 500,000 |
Beverage | 150,000 |
Event sales | 400,000 |
Total revenue | 2,200,000 |
Cost of goods sold | |
Accommodation | 50,000 |
Food | 160,000 |
Beverage | 50,000 |
Total cost | 260,000 |
Gross profit | 1,940,000 |
Expenses | |
Payroll | 750,000 |
Advertising | 75,000 |
Accounting/finance | 15,000 |
Depreciation | 100,000 |
Refurbishment/equipment | 200,000 |
Utilities/telephone | 100,000 |
Insurance | 50,000 |
OTA commission | 200,000 |
Property taxes | 100,000 |
Interes... |
Table of contents
- Cover
- Endorsement
- Half Title
- Series Page
- Title Page
- Copyright Page
- Dedication
- Contents
- Contributors
- Note from the series editor
- Preface
- Acknowledgements
- Chapter 1 Understanding and raising profits in hotels
- Chapter 2 Maintaining and improving quality
- Chapter 3 Marketing and sales
- Chapter 4 Budgeting
- Chapter 5 Accommodation sales
- Chapter 6 Food sales: Contributed by Dimitri Lera
- Chapter 7 Beverage sales: Contributed by Jennifer Kaye
- Chapter 8 Event sales: Contributed by Philip Berners
- Chapter 9 Accommodation costs
- Chapter 10 Food costs
- Chapter 11 Liquor costs
- Chapter 12 Payroll costs
- Chapter 13 Marketing costs
- Chapter 14 Fixed costs
- Chapter 15 Net profit and EBITDA
- Glossary of terms
- Index