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Hotel budget: Steps in the budgeting process for hotels

SiteMinder

What is a hotel budget? A hotel budget is a financial plan that outlines the projected income and expenditures for a specific period, usually one fiscal year. The budget also accounts for all types of expenses, including operational costs, capital expenditures, and marketing budgets. Why is a hotel budget important?

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Hotel Revenue Management for Small Hotels [Free-Ebook]

Hotelogix

In this blog, we will delve into different aspects of hotel revenue management and explore top tips and tricks to help you optimize your hotel’s revenue potential.  One major challenge is competing with bigger hotel chains with larger marketing and technology budgets.   What is Revenue Management in Hotels?

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A comprehensive overview of job positions within a hotel

SiteMinder

From handling complaints and supervising staff to scheduling maintenance and managing budgets, this role oversees all aspects of hotel operations. Duties can include overseeing various departments, conducting health and safety audits, and managing budgets. Night duty manager. IT manager. Accounting manager. Accounting manager.

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A guide to hotel departments, operational areas and building functions

SiteMinder

If you’re new to the hotel industry, opening a new property, or expanding your brand, this blog will help you understand all the key departments in a hotel and their responsibilities, as well as the various job positions in the hotel industry. Reporting issues to the maintenance team. Maintenance department. Table of contents.

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Hotel tech stack: How to build and scale effectively

SiteMinder

Failing to consider total cost of ownership: Long-term costs like maintenance and support are often underestimated, which can seriously erode your profitability. Craft a long-term budget that includes a buffer for unforeseen costs and future price rises. “We

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Guide to hotel fees and surcharges for hotels

SiteMinder

Examples might include resort fees that cover property maintenance, parking fees, or additional cleaning fees if guests bring pets. In this blog you’ll learn how your hotel can effectively, transparently and considerately apply fees to boost your revenue, reduce your overall costs, and keep guests happy.

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How to become successful in restaurant businesses

Lithos POS

Tips to plan cash buffer for a small restaurant: Maintenance – Tip : Regularly set aside funds specifically for unexpected repairs and maintenance. Calculate potential expenses for kitchen equipment, plumbing, electrical issues, and other maintenance needs. Also, monitor market trends and adjust your budget accordingly.