the prosperous hotelier
Hospitality Financial Leadership: The Top 10 Cash Controls
David Lund | April 15, 2024
By David Lund Cash is King. That’s an old expression but it’s also one that still rings true today. Everyone likes cash even if we don’t carry so much with us personally anymore. It’s important to recognize that some people will help themselves to your cash if you let them. That might sound extremely clinical and you’re right it is, but it’s also a fact. The only way to minimize your risk is to have a set of controls in place to keep honest people honest and the less than trusty, on their back foot. That’s what this piece is all about – keeping more of what’s yours and making sure it’s properly controlled. Cash contr...
Engage Their Hearts and Minds First
David Lund | September 5, 2023
You might think that getting your hotel leadership team excited about accounting is like convincing them it is fun to go to the dentist. Your average person wants nothing to do with it because they are predisposed to think it is yucky, boring and better left to someone who has trouble walking and talking at the same time. But once they begin to understand what the numbers mean and how they apply this understanding to general operations and the bottom line, they will feel just the opposite. My book, The Prosperous Hotelier, aims to do just that. Hotel leaders ALL want to have the financial wherewithal to dazzle their peers. They know i...
