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Hospitality is a diverse industry keyed to discretionary dollars. Hospitality is comprised of hotels and motels; tourist destinations like theme parks, and the catering industry. The following articles provide insight into this industry’s standards of performance.
Most of the articles are protracted in description and illustration; and designed to educate and inform the reader. They are written to help the novice to intermediate business owner.
In the hospitality industry, there is one financial tenet that takes precedence over any other business perspective. In this industry, it is about putting the maximum number of dollars (ABSOLUTE DOLLARS) in the register after each day. One of the most misunderstood business dynamics of this industry is the higher than average fixed cost to ...
The hotel business has one tenet that stands above all other hospitality based business standards. Get heads on beds. Why does this one business standard have so much more value than any other? Well, it is simple, the fixed cost of operations for hotels are over 70% of all costs. Therefore any additional guest sleeping in one ...
There is one unique financial characteristic that is synonymous with the hospitality industry; that is high fixed costs. Or another way of stating the same financial attribute is to simply state that the hospitality industry has low variable costs.