Hotel and Hospitality Accounting

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Hotel and Hospitality Accounting

TIME TO REVISIT YOUR HOSPITALITY BUSINESS

There are always new hospitality ventures emerging in the hotel industry. In order to flourish and simply standout competition, hotel businesses need to evolve with the changing demands. Adaptation to the latest trends and revamping the entire business model is the need of the hour.

The success of Hospitality industry is simply driven by customer satisfaction coupled with operational elasticity. When optimizing business strategies you always need an expert opinion to cover major risks. Additionally, you can channelize your strengths to efficient hotel management if you delegate hotel accounting responsibilities.

Alterf Services feel privileged to facilitate you in the hospitality accounting. We adopt targeted approach to meet the desired goals. We consolidate operations via exact processes and latest technologies to achieve maximum productivity. Besides customized hotel accounting solutions, Alterf services accelerate business performance with management and financial reports. Constant monitoring of financial and business performance, analysing industry sentiments and competing with rivals is conveniently possible with Alterf services.

It’s time to gain some insight on the relation of revenue with offered services, room types and hotel occupancy during different intervals of the year. Let us guide you about efficient cost-cutting techniques and optimization of hotel’s resources. Alterf Services employ enormous accounting experts who are well-equipped in hospitality accounting.

With our experience and knowledge base, your hospitality business could easily achieve:

Customized Solutions:

Customized end-to-end solutions as per scale of hotel operations.

Transparency of financial reports:

Transparent documents not only help in the audit but also gives a true picture of business standing. Reliability, when prepared by a professional accountant, is enhanced for the credit-seeking purposes.

Hospitality accounting for franchisors or franchisees:

In either case, accounting treatment is definitely different. But there is no need to worry , Alterf Services provides an ultimate solution specific to the entity.

Financial & operational reports:

Comprehensive financial reports prepared on monthly, quarterly or annual basis, augmented with operational reports, greatly assist in the strategic management and operational administration. These are great tools in fraud and error detection. Unidentified costs and ghost employees are greatly revealed via these reports.

HOTEL AND HOSPITALITY FINANCIAL REPORTING AND ANALYSIS

Alterf’s accounting services will equip you with the following set of reports:

Financial Reports:

Income Statement
Balance Sheet
Cash Flow
Asset Summary

Management/Operational Reports:

Revenue by room category or room number (penthouse/ suites, etc.)
Revenue during the week vs. weekends/ holidays
Top travel agent business analysis
Revenue by location

Metrics:

Wages cost by overall revenue or per occupied room
Revenue per occupied room
Revenue/Cost/ Profit per employee
Labor hours per customer