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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.
Adrian Martin is Vice Principal of the Edge Hotel School, University of Essex - the UK's only Hotel School.
1 Understanding and Raising Profits in Hotels. 2 Maintaining and Improving Quality. 3 Marketing and Sales. 4 Budgeting. 5 Accommodation Sales. 6 Food Sales. 7 Beverage Sales. 8 Event Sales. 9 Accommodation Costs. 10 Food Costs. 11 Liquor Costs. 12 Payroll Costs. 13 Marketing Costs. 14 Fixed Costs. 15 Net Profit and EBITDA
