Uniformed System of Accounts for the Lodging Industry
Hospitality Financial Leadership: What’s Possible in the Future With Hotel Financial Statements
David Lund | January 18, 2021
By David Lund I am a big fan of the Uniformed System of Accounts for the Lodging Industry (USALI), or as she is affectionately called “You Sally.” It has been the guide that our industry uses to properly present financial information for a long…long time, in fact almost 100 years. It lays out the format for our financial statement presentation and essentially acts as a referee if you like, to tell us what goes where. What revenues, costs of goods, expenses, and payroll belong to which department. Having a guidebook in its 11th edition that details where it goes and what it looks like are a gift. I know many industries struggle w...
Hospitality Financial Leadership: A Bit About “You Sally”
David Lund | November 30, 2020
By David Lund By someone’s estimate there are roughly one million hotels in the world. I take it that number includes all the different kinds of hotels from small inns and hostels all the way up to your full-service multi-outlet mega hotel operations. For simple math I am going to estimate that half of this number of hotels fall into the small inns and hostels, and that leaves 500,000 of what I’m going to call real hotels. Of those 500,000 I am willing to bet that 50 percent do not know about or use “You Sally.” If we ramp that number up by multiplying the 250,000 real hotels by the average number of department managers, GMs and...
