profit and loss
Hospitality Financial Leadership: Managing F&B Expenses and How to Record Them on Your P&L
David Lund | September 30, 2024
As I have said in many of my earlier posts, Food and Beverage is special. And I mean that with all sincerity because it's an integral part of our business especially with a full service offering. However, there are challenges that we need to overcome and one big one is how to report the profit and loss activity so that it is as meaningful as possible. I say “possible” because there are no absolute methods to get 100% of the picture that really work. Many try to get and stay on top of their costs and payroll and that’s the right thing to do. The reality is that it’s never going to be perfect. It’s not going to be perfect because w...
U.S. Hotels Zapped Into Profit Shock From COVID-19
HotStats | April 29, 2020
U.S. hoteliers got their first taste of the impact of COVID-19 on hotel profit and loss in March, and the bad taste in their mouths is likely to linger for a while. Gross operating profit per available room (GOPPAR) was down 110.6% YOY to $-12.71. The triple-digit drop was by far the largest percentage decline ever recorded by HotStats since it started charting U.S. data. The previous high was -10.4% in March 2015. March 2020 also marked the first time in the HotStats database that the U.S. recorded a negative GOPPAR value. The decrease in GOPPAR was a result of gaping drops on the revenue side. RevPAR for the month was down 64.4%, heav...
