Essential KPIs in the hotel Profit & Loss statement
The Uniform System of Accounts for the Lodging Industry (USALI) establishes standardized formats and account classifications to guide individuals in preparing and presenting financial statements. USALI has become a world standard even though hotels must comply with local accounting laws in different countries. For independent hotels outside the US, USALI is not used as extensively as in the US and among US-based brands. USALI is based on a consensus of all stakeholders in the industry which means that it is basic and has a hard time keeping up with all the changes outside the industry. Overall, having a solid standard as a base for further exploration into new types of revenue, costs, and KPIs is good.