Hotel Finance & Accounting Blog

Hotel Finance and Accounting Tips & Ideas by XOTELS

Navigate the evolving landscape of hotel finance with XOTELS‘ Hotel Finance News & Blog. Gain valuable insights, discover industry trends, and access expert perspectives for strategic financial management in the world of hospitality.

The Brief Guide to Uniform System of Accounts for the Lodging Industry (USALI) in Hotel Accounting

By |Hotel Finance & Accounting Blog, Hotel Management & Operations Blog, Hotel Management Blog|

The sector-wide standard for hotel accounting practises, the Uniform System of Accounts for the Lodging Industry (USALI format) has been in operation in some form or other since 1926. With our experience as a hotel management company, we can say that these best practises are essential for any hotel to create higher uniformity and consistency in the presentation and understanding of a hotel´s performance. The primary functions of this uniform system of accounts for hotels has been to provide hotel managers, owners, and other relevant stakeholders with operating statements, and to be able to run comparative analyses across different business areas. The 11th edition of USALI was released in 2015, requiring hotels to update how they reported accounting and financial data and introducing many new changes. Now knowing the importance of the system, let's take a deeper look at the details and highlight what is most important to understand as a stakeholder for a hotel.

How to Read your Hotel Profit & Loss Statement or PnL

By |Hotel Finance & Accounting Blog, Hotel Management Blog|

 Hotel Profit and Loss Statement Sample - by Xotels

As CEO of a hotel management company that has generated over €190 million in the last year, I can tell you how important it is to control every detail of your business’s finances, both on the revenue and cost side.

Hotel Management isn’t merely about strategy. There are many layers, each of which require your undivided attention. Hotel Asset Management Human resources, operations, budgeting, and income and cost control are but a few areas which necessitate focus, as well as the requisite knowledge and skill. But how can you efficiently assess the business areas that generate maximized profits?

Go to Top