financial statement analysis

This is a story about a recent client who hired me to coach her. She was the director of rooms in a large hotel in Illinois and was told that it was possible for her to be promoted to a general manager role in the future in a smaller hotel with the…

When it comes to payroll we are not just paying the cash wages. We have additional dollars that are substantial in the form of supplemental costs and employee benefits.

So, what we want to have are three areas we can see and analyze in our financial statements:

1. Cash wages
2. Auxiliary wage costs – “supplemental”
3. Employee benefits

…

My Balance Sheet Accounts Can Go a Month Without Being Completely Reconciled!

It is the worst lie financial leaders can tell themselves. Nothing is more important than the health of your books. If your books are not caught up and if your account reconciliations are not clean and up to…

Hands down one of the best experiences I ever had in my career was being part of the team that reviewed the financial performance of the hotels in my region. The reason I enjoyed it so much, and have such great memories, is because I learned so much at each one and…

This thing in the title of this piece, I want to say was a fad that died already. Benchmarking and KBI’s were all the rage a decade ago and now, today, you don’t hear much at all about their usefulness or how to create them. There is a good reason they have fallen out of sight in the hospitality…

The following is a recap of a single coaching session which turned into a coaching relationship with a client.

For this article I am going to call my client Jennifer.

I was speaking at a local hotel association event and as usual a few people came to see me at the end…