budget and finance
Hospitality Financial Leadership: The System to Follow to Create Financial Leadership in Your Hotel
David Lund | May 3, 2021
By David Lund Practice is what we are missing. Practice with the financial piece is somehow a foreign concept. But in the hotel world practice is everywhere, right? If you and I worked in banquets and we were both rookies, we would show up every day and listen, work and learn, and in a relatively short period of Time, we would both be pretty good at setting up, servicing and tearing down the banquet. How is this different from learning the financial piece? It’s not, that’s the illusion. It looks different because it is money and we see that it has a certain illusionary power. The monthly financial circle in a hotel is the prac...
Hospitality Financial Leadership: Chapter 14 – The How To vs. The Want To
David Lund | January 4, 2021
By David Lund The chapter below is an excerpt from my new book. It’s fiction but some of the characters and story lines are based on people I have worked with and events that have taken place in the hotels I have worked in. The book is a fable about a hotel manager who has some very bad habits. He must change in order to survive and the book takes him and you through the lessons needed to be a great hospitality financial leader. I’m writing ahead each month so I’m not sure how the book will end. I hope you enjoy it and if you missed any earlier chapters you can find them on my website blog tab. Mr. D returned the next morning ...
Hospitality Financial Leadership: Controlling Food Cost – Top 10 List
David Lund | November 11, 2019
By David Lund Food cost is a never-ending battle in a war that does not end. You can never take your foot off the gas, if you do you will slow down. When you slow down in the food cost world it is costly. Back in the day I cut my teeth as a receiver, F&B cost control clerk and ultimately an F&B cost controller. Here is my top 10 list of food cost control strategies you can either put in place, re-commit to doing, or ask yourself why it is not already being done.😊 Shop Around Check Your Receiving Lock it Up Menu Costings Embrace Contribution Margin Separation of Duties After Hours Invoice Approval ...
