operating budget
Cost-Efficient Hotel Operations Doesn’t Necessarily Mean Cost Cutting
Larry and Adam Mogelonsky | September 7, 2022
By Larry and Adam Mogelonsky It’s natural during any market correction for owners and operators to want to redline budgets as a way of preserving the bottom line. But in this analysis, what we hope to convey is that abject parsimony and cutting costs across the board can often backfire due to the interconnected nature of hotel operations, resulting in a diminished topline which then stifled the bottom line. Our analysis led us to interview Andrew Carey, CEO of Newport Hospitality Group (NHG), a management company with a portfolio of select and full-service hotels across the Eastern Seaboard, who started off with some bold, concise wor...
Aptech Offers Hoteliers Six Budgeting Tips for 2021
Aptech Computer Systems Inc. | September 29, 2020
At a time when revenues are at their lowest, it’s critical that operators understand where to trim costs and how to track spending per occupied room using historical drivers PITTSBURGH, Sept. 29, 2020 — With operating budgets thrown out the window by second quarter this year, hoteliers are scrambling to find useful historical data to help guide them through the 2021 budgeting and forecasting process. Aptech, a provider of budgeting and forecasting, enterprise accounting, and business intelligence solutions for hotels, is advising operators to rely on historical drivers rather than bottom line revenues to help them better plan for the d...
