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Tag : david lund

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Hospitality Financial Leadership - Recording Average Length of Stay

January 15, 2018

The one thing I see time and time again with clients is just how poorly their financial statements are set up. The statements almost always lack basic...

Hospitality Financial Leadership - Financial Statement Analysis and Your Hotel Career

January 2, 2018

If you google the words “financial statement analysis,” you will get a long list of definitions like this one by Wikipedia: “Financial...

Hospitality Financial Leadership - A White Paper on a 6-Month Client Workshop/Coaching Engagement – Part 3

December 27, 2017

By David Lund The following is an overview of a six-month financial leadership project that I recently completed at a full-service hotel. The project...

Hospitality Financial Leadership - A White Paper on a 6-Month Client Workshop/Coaching Engagement – Part 2

December 19, 2017

The following is an overview of a six-month financial leadership project that I recently completed at a full-service hotel. The project consisted of six...

Hospitality Financial Leadership -  A White Paper on a 6-Month Client Workshop/Coaching Engagement – Part 1

December 12, 2017

By David Lund The following is an overview of a six-month financial leadership project that I recently completed at a full-service hotel. The project...

Hospitality Financial Leadership - Testing vs. Trusting

November 20, 2017

By David Lund “All of life is an experiment, the more experiments the better.” ~ Ralph Waldo Emerson When you really want to do something, the...

Hospitality Financial Leadership - Runnin’ Down a Dream

November 13, 2017

By David Lund Yeah, runnin' down a dream - That never would come to me - Workin' on a mystery, goin' wherever it leads -  Runnin' down a...

Hospitality Financial Leadership - Four Important Things to Know

November 7, 2017

By David Lund By creating and delivering my hospitality financial leadership workshops, I learned four very important lessons. The lessons center around how...

Hospitality Financial Leadership - Using EFTEs

October 30, 2017

By David Lund If You Can't Measure It, You Can't Improve It. Management thinker Peter Drucker is often quoted as...

Hospitality Financial Leadership - Food Cost and the 80/20 Rule

October 23, 2017

By David Lund We have all heard of the 80/20 rule. But I am willing to bet most of you have not heard it in conjunction with the words "food cost."...

Hospitality Financial Leadership - “Systems”, Don’t Change The People - Change the System

October 16, 2017

By David Lund Every system is perfect for the results it creates. The flip side of this is: Don’t change or make the people wrong—it is the...

Hospitality Financial Leadership - How Can You Turn $250 Savings into $1,000,000 In Asset Value

October 3, 2017

By David Lund 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...

Hospitality Financial Leadership - The Third Pillar

September 25, 2017

By David Lund In the hotel business, there are three pillars: the guests, the colleagues and the money. They are not equal. They are not equal because we...

Hospitality Financial Leadership - Global Hotel Revenue Management

September 11, 2017

By David Lund Global is a big word and now that we have your attention I want to define global in a hotel setting. Global refers to all sources of revenue and...

Hospitality Financial Leadership - How to Set Up and Report Food & Beverage in Your Hotel Financials

September 5, 2017

By David Lund 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...

Hospitality Financial Leadership – Leadership and Technology

August 29, 2017

By David Lund “Your success in life isn’t based on your ability to simply change. It is based on your ability to change faster than your...

Hospitality Financial Leadership – Creating Hotel Financial Policies

August 22, 2017

By David Lund Having a policy manual that covers all the important aspects of your business that relate directly to the financial function is a...

Hospitality Financial Leadership – Measuring Labor Productivity Part II

August 9, 2017

By David Lund In food and beverage, you want to get obsessed about a similar measurement like you do in the rooms division. In F&B it is “hours per...

Hospitality Financial Leadership – How to Review a Hotel Budget

July 31, 2017

Budget season is fast approaching and I am writing this article to highlight some areas to look at when you are reviewing a hotel financial budget. Maybe you...

Hospitality Financial Leadership -  Outsourcing Your Accounting and Why this is a Stupid Idea

July 24, 2017

By David Lund Stupid sounds like a harsh word. Webster’s dictionary defines stupid as, “Given to unintelligent decisions or acts,” along...

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