Edge Hotel School vice-principal writes finance book for hoteliers
A book aimed at helping hoteliers make their businesses more financially successful has been penned by the vice-principal of the Edge Hotel School at the University of Essex.
Adrian Martin said that he was inspired to write The Practical Guide to Understanding and Raising Hotel Profitability because there was a gap in the market for an easy to read reference book for students and hotel staff who struggle to understand profit and loss accounts.
"When most people think about what a general manager of a hotel does, they focus on the role of maintaining standards and the customer facing aspects," said Martin, who was a graduate trainee with Thistle Hotels before being appointed general manager of 100-bedroom hotel in Bournemouth at the age of 25. "Yet a GMs job is to do all the above whilst simultaneously improving the hotel's financial performance, often without any guidance or previous experience."
The guide includes sections on food and beverage costs, payroll costs, budgeting, accommodation sales and net profit among other subjects, with tips from leading operators including Michael Voight, general manger of L'Oscar, London, and Harry Murray, chairman of Lucknam Park, Colerne, Wiltshire, and president of HOSPA.
Writing an introduction to the book, Murray said that many hospitality businesses fail due to poor business acumen and the lack of experience to improve financial performance. "This book will give you the tools you need to improve the profitability of the business and includes industry benchmarks to help measure performance."
• The Practical Guide to Understanding and Raising Hotel Profitability is published by Routledge, priced at £29.99.
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