USALI 12 – What we know so far
As hotels strive to streamline their financial processes and make informed decisions, the selection of the right FP&A software becomes a critical aspect of their strategy. In this blog, we’ll explore the key considerations and steps to help hoteliers decide on a new FP&A software that aligns with their specific needs and goals.
New Business Development Manager for North America
Eric Healy has been hired as the new Business Development Manager for Fairmas North America. With 18+ years of experience in the hospitality industry, Eric is not only the perfect candidate for the position but will be a key asset to the continued growth of Fairmas across the region. His extensive operational and sales experience in the luxury hotel industry in North America as well as the last few years in the tech sector is a testament to why he is the right fit for the role. The ability to merge these two sectors is core to his role at Fairmas.
Strategic Financial Planning in Uncertain Times
In the wake of the global pandemic and its impact on the hospitality industry, financial planning and revenue management have become crucial for the survival of hotels. The uncertainty of when travel restrictions will be lifted and when travelers will return has made it necessary for hotels to plan for multiple scenarios.
Consolidation – Hotel key figures at group level
To meet the challenging demands of the controlling and steering function, head offices of large hotel companies must be able to access all revenues, costs, and relevant hotel key figures quickly and easily. The level of detail of the analysis should be flexibly adjustable so in the event of deviations from targets, it is easy to switch from the group, country, or cluster level to the hotel level.
5 Tips to Successfully Introduce Rolling Forecast with FairPlanner
The crisis has shown that in turbulent times and in a highly dynamic market, close monitoring of hotel performance by doing a rolling forecast is crucial. The introduction of FairPlanner as a financial planning tool simplifies the entire forecasting and budgeting process. The rolling forecast feature enables regular performance analysis of the entire hotel business with a focus on profit.
How to jump-start financial planning for post-Corona scenarios
Everyone is affected by today’s global pandemic situation, and the hospitality industry is one of the hard-hit industries. However, there is one truth: There will eventually be an end to all of this and businesses will resume its normal operations, whatever that new normal may be.