David Lund
Hospitality Financial Leadership – How to Prepare a 5-Year Proforma

Hospitality Financial Leadership – How to Prepare a 5-Year Proforma
By David Lund
David Lund · 5 Dec

Preparing a five-year financial plan for your hotel might sound daunting, but it is all in your head. Let’s lay it out. You are either dreaming about

David Lund
Hospitality Financial Leadership – What Really Counts and Why

Hospitality Financial Leadership – What Really Counts and Why
By David Lund
David Lund · 10 Oct

If you do not have all three of these metrics on your radar screen at the same time, you are flying the profit picture in your food operation with at

Why You Need an Internal Control Review Program in Your Hotel - ICR
Why You Need an Internal Control Review Program in Your Hotel - ICR

Why You Need an Internal Control Review Program in Your Hotel - ICR
By David Lund
David Lund · 5 Sep

Here’s the scenario. You have finally got a full-blown accounting policy manual in place. It has taken several months and a lot of work, but it’s don

David Lund
What Hotel Brands Don’t Know – The Secret to Creating Great Financial Expertise

What Hotel Brands Don’t Know – The Secret to Creating Great Financial Expertise
By David Lund
David Lund · 15 Aug

What brands don’t know is, they can create great financial bench strength in their hotels and their owners will pay 100% of the cost. Brands also don

David Lund
Hospitality Financial Leadership – Designing Your Financial Reporting System – A Wake-Up Call

Hospitality Financial Leadership – Designing Your Financial Reporting System – A Wake-Up Call
By David Lund
David Lund · 8 Aug

Having a financial system that produces regularly scheduled information about your hotel and the direction it is going is paramount to your survival.

David Lund
Hospitality Financial Leadership – How to Do a Breakeven Analysis Using REVPAR

Hospitality Financial Leadership – How to Do a Breakeven Analysis Using REVPAR
By David Lund
David Lund · 18 Jul

I have recently read more than one article on breakeven analysis and they all miss the mark in my books because they focus on what occupancy is neede

Hospitality Financial Leadership - Why Auditors Miss the Mark
Hospitality Financial Leadership - Why Auditors Miss the Mark

Hospitality Financial Leadership - Why Auditors Miss the Mark
By David Lund
David Lund · 27 Jun

I recently watched a documentary on fraud and why the auditors were unable to detect anything even when they were right on top of what was so obvious

David Lund
Hospitality Financial Leadership - The Bridge

Hospitality Financial Leadership - The Bridge
By David Lund
David Lund · 16 May

In our lives we are continuously evolving as people. When thought of most of the time, this evolution seems like a continuous stream of challenges to

Hospitality Financial Leadership - What is the Only Thing We Know for Sure About the Hotel Budget?
Hospitality Financial Leadership - What is the Only Thing We Know for Sure About the Hotel Budget?

Hospitality Financial Leadership - What is the Only Thing We Know for Sure About the Hotel Budget?
By David Lund
David Lund · 26 Apr

The budget is a BIG deal. Heck, it consumes so much time and energy in the hotel. Getting it right is a critical element to any branded, managed hote

David Lund
Hospitality Financial Leadership - Why Your Hotel Needs a Daily "Pick-up" Report

Hospitality Financial Leadership - Why Your Hotel Needs a Daily "Pick-up" Report
By David Lund
David Lund · 18 Apr

You might be reading this and saying to yourself, “Well, for sure every hotel needs a daily pick-up report.” But I bet you would be surprised how man

David Lund
The Key Attributes of a Proper Hotel Financial Statement

The Key Attributes of a Proper Hotel Financial Statement
By David Lund
David Lund · 4 Apr

Having a monthly financial statement for your hotel is the key to creating an effective management process inside your business. But, like many thing

David Lund
Hospitality Financial Leadership – Top 10 ‘MUST DO’ Separation of Duties and Controls

Hospitality Financial Leadership – Top 10 ‘MUST DO’ Separation of Duties and Controls
By David Lund
David Lund · 21 Mar

In your hotel internal controls are a mission critical element you must have up and working well to adequately safeguard your assets. If you forgo th

David Lund
The 6 Quadrants of GOPPAR

The 6 Quadrants of GOPPAR
By David Lund
David Lund · 7 Mar

GO PAR is the new and exciting measurement everyone is talking about in the hotel business. But let’s be honest. It is a bit of a stretch to comprehe

David Lund
Hospitality Financial Leadership - Balancing Daily Revenues and Settlements

Hospitality Financial Leadership - Balancing Daily Revenues and Settlements
By David Lund
David Lund · 21 Feb

The hotel business is a form of retail business. Every day we must balance our revenues with our settlements, just like you would if you owned a stor

David Lund
Why You Need a Month-End Schedule

Why You Need a Month-End Schedule
By David Lund
David Lund · 7 Feb

If you complete a regular monthly close in your hotel, and I certainly hope you do. And if closing your books takes longer than three-five working da

Hospitality Financial Leadership – Why Managing the Budget in Your Hotel is Like Playing Baseball
Hospitality Financial Leadership – Why Managing the Budget in Your Hotel is Like Playing Baseball

Hospitality Financial Leadership – Why Managing the Budget in Your Hotel is Like Playing Baseball
By David Lund
David Lund · 24 Jan

That’s a big statement because if you are involved in the budget in your hotel and you have played baseball then you are probably saying to yourself

David Lund
Hospitality Financial Leadership – Why is Hotel Accounting Different?

Hospitality Financial Leadership – Why is Hotel Accounting Different?
By David Lund
David Lund · 17 Jan

I heard this about 40 years ago and it has stuck with me. I was a newbie cocktail waiter working part time in my hometown hotel. One of my regular we

David Lund
Hospitality Financial Leadership – Top 10 List for Controlling Labor Costs

Hospitality Financial Leadership – Top 10 List for Controlling Labor Costs
By David Lund
David Lund · 22 Nov

Managing labor costs is a never-ending battle in any hotel. No wonder it adds up to on average 50 percent of the total revenue in hotels around the w

David Lund
Hospitality Financial Leadership – How Can You Turn $250 Savings into $1 Million in Asset Value

Hospitality Financial Leadership – How Can You Turn $250 Savings into $1 Million in Asset Value
By David Lund
David Lund · 9 Nov

That’s right, your eyes and the headline are not fooling you. I learned this from a client in a backwards kind of way and now I want to share it with

David Lund
Hospitality Financial Leadership - The ROI for Financial Leadership Skills

Hospitality Financial Leadership - The ROI for Financial Leadership Skills
By David Lund
David Lund · 1 Nov

When it comes to investing in oneself many times people overlook the outcome and instead concentrate on the up-front cost. When we look at the opport

David Lund
Hospitality Financial Leadership - New Deal Between Hotel Owners and Brands that Manage Hotels

Hospitality Financial Leadership - New Deal Between Hotel Owners and Brands that Manage Hotels
By David Lund
David Lund · 25 Oct

A lot has been speculated about what could and should change because of the pandemic. There is one aspect of the hotel business that desperately need

Hospitality Financial Leadership – Money Never Looks After Itself
Hospitality Financial Leadership – Money Never Looks After Itself

Hospitality Financial Leadership – Money Never Looks After Itself
By David Lund
David Lund · 11 Oct

I do not know about your experience, but for me growing up in the hotel world, and especially my first decade working in F&B and rooms, the adage, “L

David Lund
Hospitality Financial Leadership – Critical Importance of Accruals and Deferrals

Hospitality Financial Leadership – Critical Importance of Accruals and Deferrals
By David Lund
David Lund · 30 Aug

A lot gets written about certain things in the hotel industry and others not so much as a mention. I am not saying it is simply a matter of blatant f

Hospitality Financial Leadership – GOPPAR Characteristics
Hospitality Financial Leadership – GOPPAR Characteristics

Hospitality Financial Leadership – GOPPAR Characteristics
By David Lund
David Lund · 26 Jul

From time immemorial, revenue per available room, or RevPAR, has been the go-to key performance indicator in the hotel industry. A simple calculation

David Lund
Hospitality Financial Leadership – How To Prepare The Annual Budget In 1 Hour

Hospitality Financial Leadership – How To Prepare The Annual Budget In 1 Hour
By David Lund
David Lund · 12 Jul

Over the many years I have worked in hotels, I have had the pleasure of working with some exceptionally fine and talented individuals. This story is

Hospitality Financial Leadership – Moving (Part 3)
Hospitality Financial Leadership – Moving (Part 3)

Hospitality Financial Leadership – Moving (Part 3)
By David Lund
David Lund · 11 Jun

In the hotel business if you want to get ahead you better be ready to move. It’s the way in which you can multiply your opportunities and increase yo

Hospitality Financial Leadership – Moving (Part 2)
Hospitality Financial Leadership – Moving (Part 2)

Hospitality Financial Leadership – Moving (Part 2)
By David Lund

In the hotel business if you want to get ahead you better be ready to move. It’s the way in which you can multiply your opportunities and increase yo