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  • 1.  Hospitality Industry

    Posted 02-28-2020 03:03 PM
    Hello accounting community,

    I recently became the Controller for a large wedding, and banquet venue in South Florida. However, this is a new industry for me and I am looking to gain some insight on important KPI's I should be calculating and reviewing. The help is much appreciated!

    Sincerely,

    Nicole Gonzalez Cumberbatch 



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    [Nicole Gonzalez Cumberbatch]
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  • 2.  RE: Hospitality Industry

    Posted 02-29-2020 01:01 PM
    Nicole 
    I do not have any experience in this area. However, I wonder as you work through this if you would be willing to share the information with a view to writing a case on this for IMA or the Ivey School. I would be happy to test it on my students in the fall.
    Saludos y Muchisimas gracias.

    Stephen Salter

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    [Stephen] Salter]
    [Professor of Accounting]
    [Middle Tennessee State University]
    [Murfreesboro] [TN]
    [USA] [stephen.salter@...]
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  • 3.  RE: Hospitality Industry

    Posted 03-02-2020 12:39 PM

    Nicole,

     

    I used to work for San Diego Tourism Authority.  I don't know if the closest big city to you is Miami or another Florida city.  All of the big cities in your area are supposed to attract tourists.  They have some kind of group tracking their tourism results to figure out how many dollars are coming into the area because of tourists.  Many of the numbers you will track will be similar to them.  They track how many dollars are coming to rent hotel rooms, how much for rent in hotel banquet/ballrooms, how much is spent on dining and attractions, etc.  If you can make a contact at your local tourism authority, you should be able to see if what they track is similar to what you want to track for venue, food, etc.  Someone there will probably be willing to work with you on how they track metrics and how they use them.

     

    Sincerely,

    Nancy

     

    Nancy McCleary, CPA

    We are what we repeatedly do. Excellence, then, is not an act but a habit.  - Will Durant

     

    General Atomics

     

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