budgeting
Methods in the Madness: Insiders Share Their Budgeting Approach
HotStats | October 15, 2024
Budgeting is like training for an Olympic marathon. Days are spent creating a plan to address weaknesses, build on strength and endurance, and hedge against unfortunate events. Money is earmarked for activities that hopefully will generate income or sponsorships to procure better equipment. A significant amount of time is spent too in scoping out conditions in the field and closest competitors. The goal, after all, is to be in business for the long haul while staying lean and nimble in the short term. Like all athletic training, there are no easy ways to go about budgeting. “There’s a lot going around in my head,” says Neetu Mistry, ...
The Hotelier’s Guide to Operational Excellence in 2025
Otelier | October 2, 2024
The operational landscape continues to shift as hotels increasingly rely on data and efficiencies to stay competitive and meet guest expectations. This whitepaper explores five key areas where hotels can optimize operations, improve guest satisfaction, and drive profitability by harnessing data-driven tools and strategies. By examining five key areas of hotel operations, this whitepaper serves as a comprehensive roadmap for hoteliers looking to thrive in a data-driven world. It highlights how leveraging data and technology can lead to more efficient processes, better decision-making, and improved profitability. Below, hotel managers...
Where Your Hotel’s Finance Team Should Be at This Point in Budget Season
Jill Wilder | September 17, 2024
By Jill Wilder, President of Aptech It’s that time of year – budget season. "Budget" – even the word sounds daunting to most people. The good news is the budgeting process for your hotel doesn't have to be overly difficult. The key assets when building a budget for your hotel company are: ✓ Organization ✓ Teamwork – with all departments supplying their input and information without delay. ✓ Hotel-specific software – to help your finance team gather accurate data across your portfolio and easily provide their recommended budget on time. Let's Start with the Basics A hotel budget is essentially a financial plan and strat...
Maximize Your Budget: How Hospitality Procurement and P2P Software Drive Financial Efficiency
Johannes Vocke | September 12, 2024
By Johannes Vocke, FutureLog Chief Financial Officer Creating a robust budget is essential for any company's planning and operations. Yet, many hospitality organisations need to leverage all their resources and expertise. Often, they exclude procurement, a crucial player in managing expenditures, from the budgeting process. It’s hardly surprising to seasoned hospitality executives that setting and adhering to a budget can be challenging due to a lack of visibility, internal misalignment, and fluctuating market prices. When procurement is not involved in budgeting, opportunities for cost savings are missed, leading to budget overruns...
Industry-Leading Finance Technology To Be On Display at ‘Hunter Hotel Investment Conference’
Aptech | March 13, 2024
As a Silver Sponsor, Aptech will showcase the latest in enterprise accounting, business intelligence, and budgeting/forecasting automation in Booth #812 PITTSBURGH, March 13, 2024 — With relationship building always top of mind, Aptech will be exhibiting at the 35th Annual Hunter Hotel Investment Conference to display its integrated enterprise accounting, business intelligence, and budgeting/forecasting software for hotels. To be held March 19 to 21 at the Atlanta Marriott Marquis, the event is designed to foster networking and create connections. In addition to learning about upcoming investment trends and connecting to the indust...
MDO Becomes Otelier and Launches IntelliSight, a Unified Business Intelligence Platform
Otelier | February 26, 2024
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Hospitality Financial Leadership: Explaining Accounting
David Lund | December 18, 2023
By David Lund No one can explain accounting. I have some pretty crazy situations presented to me by potential clients. I say crazy and I what that means is that it is almost unbelievable that anyone would find themselves in such a mess with their business and their books. I also say potential client. Almost always it is never going to be a client, but because I am out there – and in order to find real customers – I must kiss a lot of frogs. I am not complaining. To the contrary I am only too happy to speak with just about anyone who has a problem and thinks I can help. I provide a service and in order to get a paying cl...
Trump International Beach Resort Leveraging a Trifecta of Financial Management Tools to Optimize Operations
Aptech Computer Systems Inc. | December 13, 2023
The four-star luxury resort in Miami says the customer service and support for Aptech’s enterprise accounting, business intelligence and budgeting and forecasting software is ‘Outstanding’ PITTSBURGH, December 13, 2023 – Trump International Beach Resort in Miami has selected Aptech to gain access to the financial information it needs to make effective business decisions. The popular luxury destination is leveraging the complete portfolio of Aptech solutions – PVNG, Execuvue, and Targetvue – to streamline all enterprise accounting, business intelligence and budgeting and forecasting processes, making the property more financially ...
