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Budgeting in Hotels: Theory, Practice and Outlook 2025!

Revenue Hub

Budgeting in hotels is one of the core tasks of revenue management and plays a crucial role in managing operational and financial efficiency. The budget serves as the basis for financial planning, control, and decision-making. Theoretical Foundations of Hotel Budgeting A budget primarily serves to plan and control a company’s finances.

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2024 Budget Planning: What Is Top of Mind for Hotel Owners & Operators?

Revenue Hub

Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. NB: This is an article from Hotstats What unique challenges are hotels facing in the 2024 budgeting and planning process? Rooms Profit Margin by Country 2019 – 2023 3.

Budgeting 101
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Hotel industry trends and predictions for 2023

Hotel Owner

Oliver Brown, the general manager of Wivenhoe House Hotel, said: “In 2023, hoteliers will be expected to build their business strategy on conscious decision-making behind the scenes. We already have more on the books for 2023 than we did this time last year for 2022. Conscious considerations and decision making.

Book 105
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JLL: Creativity to play key role in 2023 profitability

Hotel Business

The 2023 budget season is upon us, and hotel owners are continuing to search for ways to increase profitability while reducing operational risks. The post JLL: Creativity to play key role in 2023 profitability appeared first on hotelbusiness.com.

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SilverDoor encourages flexibility as corporate demand on the up

Serviced Apartments

Likewise, the easing of China’s visa restrictions is leading to increased international inbound demand, alongside a 13 per cent growth in enquiries for Hong Kong compared to April-August 2023 across APAC. Legislative changes are also impacting the market, such as the minimum stay requirements of 31-32 nights in Barcelona.

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What it’s like to work in hotel operations management

Les Roches

Managing such a hospitality venue involves a wide range of duties, from overseeing housekeeping and food service to guest relations and maintenance. Housekeeping Guests expect nothing less than spotless rooms and a sanitized environment. What is hotel operation management?

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Mimi Sheraton, the New York Times’ First Female Food Critic, Dies

EATER

She also worked at Seventeen and Good Housekeeping , wrote numerous books including 1,000 Foods to Eat Before You Die , and most recently was a food columnist for the Daily Beast. link] — Jason Diamond (@imjasondiamond) April 7, 2023 Sheraton’s legacy is one of brutal honesty. Made me feel great.