That's right, your eyes and the headline are not fooling you. I learned this from a client in a backward kind of way and now I want to share it with you. It is a powerful way to justify and prove a return on investment (ROI) for financial leadership training. I use this story as well to show my clients what they are leaving on table in the way of profits and asset value if they are not using financial leadership in their hotel.
That is a long title and it is fitting because F&B reporting in your financials is the longest part of your hotel financial reporting process. Every other department except for benefits is a single shot. In F&B you need allocations and a roll up of all outlets into a total F&B profit statement. This is the single biggest area where I see hotels get their statements wrong. In this article, I am going to lay out how to set up your statements and general ledger to provide you strong financial reporting for your food and beverage department.
Despite a 1.9% decline in August, the Baird/STR Hotel Stock Index is still up 10.7% year to date.
The Baird/STR Hotel Stock Index increased 2.1% in July, closing the month at 4,177. Year to date through July, the index was up 12.8%.