Financial Control for Your Hotel

Financial Control for Your Hotel gives hotel general managers and finance executives a clear understanding of the techniques of cost control essential to the success of a motel or small hotel. This easy-to-use guide expands readers’ understanding of everything from the basics of hotel finance to improving the bottom line. Industry expert Michael M. Coltman provides clear explanations for organizing the balance sheet and the income statement, as well as for handling purchasing and hiring—areas critical to profitability. Financial Control for Your Hotel also offers valuable guidelines on all areas of finance related to hotel operations, including pricing, income statement analysis, and budgeting. Special coverage of investments helps managers plan for long-term financial growth.

Understanding Your Balance Sheet. Understanding Your Income Statement. Internal Control. Guest Account Control. Purchasing. Receiving, Storing, and Paying for Purchases. Employee Policies. Labor Cost Control. Income Statement Analysis. ratio Analysis. Cost Management. Using Break-Even Analysis. Establishing Room Rates. Room Rate Discounting and Yield Management. Budgeting. Working Capital and Cash Management. Long-Term Investments. Appendix. Glossary. Index.