Very often, independent hoteliers ask their managers for financial information and, in the best case scenario, they are re-directed to their accountants or tax advisors.
A reliable financial analysis and accurate reporting of operating revenues and costs are the most significant tools for the owner/manager to measure the hotel’s profitability, identify problem areas, take corrective action and most importantly, make future decisions.
Our involvement in hotel management over the years has confirmed the simple truth that: “accounting is for accountants and the state whereas financial analysis & reporting is for owners and managers”.
Our financial and audit services are based on the Uniform System of
Accounts for Hotels & Restaurants and include:
- Assistance in selecting the most suitable Hotel Information System and Store Administration System for a hotel
- Construction of simple, accurate and constantly up-to-date financial reports including monthly profit & loss statements
- Tailor-made Budgeting and Forecasting of revenues, payroll & related expenses and operating costs
- Cost and Benefit Analysis to determine whether a specific area or department of the property is profitable or not
- Training of managers in using and interpreting financial reports
- Extensive financial audits of operating results
