Remove Accounting Remove Events Remove Revenue Projections
article thumbnail

Some Fresh Air Is Necessary to Jumpstart Restaurants Reopening

Modern Restaurant Management

Most municipalities have existing permitting capabilities for temporary uses and special events that provide for an expedited process to obtain a permit and would not require reinventing the wheel. Permits – Is there an existing permitting structure in place that can be utilized, or will a new system need to be created?

article thumbnail

Best Steps and Practices to Create a Robust Hotel Budget

Revenue Hub

By keeping a close eye on industry trends, economic indicators, and local events you can better understand what might impact your business. It helps prevent overspending and ensures that expenses are in line with revenue projections. Accurate revenue forecasting is the foundation of your budget.

Budgeting 109
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Identifying Ancillary Revenues and Driving Additional Revenues

Revenue Hub

When thinking of ways to increase revenues, most revenue managers focus on the room and look for ways to increase revenues by offering early check-in, late check-out, upgrades to suites and other room types, as well as generating no-show revenue. NB: This is an article from RealTime Reservation.

article thumbnail

How to start a hotel management company

Les Roches

Some of the main current trends are: Sector growth: the hotel and tourism industry accounts for 10% of worldwide GDP and turnover is steadily growing, making it a good opportunity for new businesses Technology integration: the hotel management industry is using more and more technology to improve guest experiences and streamline operations.

article thumbnail

6 Expert Tips To Create An Effective Cafe Business Plan For The UK

The Restaurant Times

It will also give offer a deeper insight into the business and allow you to better prepare for unforeseen events that may hamper your cafe. . A cash flow statement depicts how changes in the balance sheet, accounts, and income affect liquidity and provides an overview of operating expenses. Strengths: Include the USPs of your cafe.

article thumbnail

Everything you need to know about resort development

Les Roches

This involves estimating construction costs, operating expenses, revenue projections and return on investment (ROI) calculations and identifying potential risks and opportunities. They then devise financing strategies to secure funding for the project to cover these costs and contingencies.

article thumbnail

How to start a hotel business plan

SiteMinder

online advertising, social media, email marketing, partnerships, events) Marketing messages: What key messages will you communicate to your target audience? Research the current and projected demand for hotels in your location, taking into account factors such as population growth, tourism trends, and economic activity.