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Finance

Opinion Article

Measuring Economic Impact Is a Win-Win for Developers and Municipalities

Introduction: At a time when financing for hospitality development projects is challenging for developers, it can often mean that some projects won’t ever come to fruition. At the same time, municipalities would like to increase their hotel or resort offerings to attract travelers to their destinations while remaining fiscally responsible. When developers seek government assistance for development projects, state and local authorities must balance the needs of developers in the community with the financial realities of the project.

David Sangree
By David Sangree, MAI, CPA, ISHC, is President of Hotel & Leisure Advisors, Hotel & Leisure Advisors (H&LA)
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Opinion Article

How to Recognize When It’s Time to Upgrade Your Generic Accounting Platform to a Hotel-specific Solution

When you think of the most important department in a hotel, accounting may not be the first one that comes to mind for many people. The truth is, however, a hotel or multiproperty hotel organization requires accurate data from its accounting systems to sustain its financial health and run efficiently, and that affects all of the other departments.

Jill Wilder
By Jill Wilder, President, Aptech
Fabian Bartnick
By Fabian Bartnick
Expert Views (6)
Thibault Catala
Thibault Catala, Founder and Managing Director, Catala Consulting

I don't think this is a good move from Booking.com as indeed advance purchase rates (with no refunds or cancellations) have been a useful tool to attract budget-conscious guests and ensure steady cash flow for hotels. Nowadays, guests are even more price sensitive so by removing completely prepaid rates at a discount, we (they) may lose some customers directly.

Mark Fancourt
Mark Fancourt, Co-Founder & Principal Consultant, TRAVHOTECH

In some ways it appers much like the old model of travel agent relationships and vouchers, where the hotel received the funds from the agent after the guest had stayed and submitted their voucher for payment through the accounts receivable process.

Max Starkov
Max Starkov, Hospitality & travel technologist and digital strategist, Hospitality Net

Hotel advanced booking/pre-paid rates are typically 10%-20% below BAR (Best Available Rate). These rates have always been an important strategy to put as much business on the books and to decrease cancellation rates plaguing the industry for years, reaching as high as 50% in some destinations.

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Opinion Article

Leveraging Data Insights in Hospitality: The Role of P2P Systems in Improving Decision-Making

Over the last several years, hoteliers have been forced to tackle a variety of emerging challenges head-on, from labour shortages to supply chain disruptions and rapidly evolving guest demands. As travel volumes recover, leading hotels are investing in digital transformation and refreshed amenities for an increasingly experience-driven audience.

Johannes Vocke
By Johannes Vocke, Chief Financial Officer, FutureLog AG
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Press Release

The Hotel Financial Coach Unveils Comprehensive Hotel Accounting Policy Manual & Internal Control Review Programs

Hotel Financial Coach, a leading provider of financial management solutions for the hospitality industry, is excited to announce the launch of its groundbreaking Hotel Accounting Policy Manual & Internal Control Review Programs. This innovative suite of services is designed to enhance financial accuracy, operational efficiency, and regulatory compliance for hotels of all sizes.

David Lund