Table of Contents

1 Understanding and Raising Profits in Hotels. 2 Maintaining and Improving Quality. 3 Marketing and Sales. 4 Budgeting. 5 Accommodation Sales. 6 Food Sales. 7 Beverage Sales. 8 Event Sales. 9 Accommodation Costs. 10 Food Costs. 11 Liquor Costs. 12 Payroll Costs. 13 Marketing Costs. 14 Fixed Costs. 15 Net Profit and EBITDA

About the Author

Adrian Martin is Vice Principal of the Edge Hotel School, University of Essex – the UK’s only Hotel School.

Reviews

‘A welcome and easy-to-read book to help Hospitality students and hotel management teams become financially literate and understand all aspects of the business. Financial management has never been more important as all costs, especially labour costs, continue to rise. Many hospitality businesses fail due to poor business acumen and lack of experience in improving financial performance. This book includes industry benchmarks to help measure performance and will give you the tools you need to improve the profitability of your business.’Harry Murray, MBE MI FIH, Chairman Lucknam Park Hotel & Spa & President of HOSPA‘Understanding profitability and finance is crucial to the success of any hospitality business. As a lecturer and head of a hospitality department in a university for 40 years, this subject was always very difficult to teach to non-financial students. Many students required extra tuition in order to understand the concepts and apply these concepts and theories to real industrial operations. This book will become a very useful resource that will both assist the students’ learning and aid lecturers in preparing teaching material. I would recommend that this valuable resource become a compulsory text.’ Professor David Foskett, MBE CMA FIH BEd (Hons) FRACA HMCGC, David Foskett Associates, Chair of the International Hospitality Council‘Strong financial management is such an important part of running a successful hotel and is a skill that many hospitality team members struggle with as they progress into management roles. Adrian has successfully captured the fundamentals of this in his book and communicated them in such a way that both students and professionals at every level can absorb the knowledge and put it into practice. There is something for everyone at every level of hotel management – a must-read in my opinion.’Adam Rowledge, GM, Georgian House, Independent Hotelier of the Year 2018