It’s Time for Hotel Finance Teams to Re-Evaluate Their Budget ‘Drivers’

Jill Wilder | September 14, 2021

By Jill Wilder As we are all aware, budgeting for 2022 will present some challenges, without a crystal ball we are going to need to use our knowledge to form new ways to plan for our future. While historical drivers helped hoteliers in previous years with their future planning, it’s a whole new ballgame today, as the very way a hotel operates is radically different from even a year ago. As in the past, just comparing departmental profits from previous months is just one piece of the puzzle. To have better, more accurate budgeting numbers for the year ahead, hoteliers need to re-evaluate their drivers and establish a new baseline data set...