The Art and Science of Hotel Budgeting: Time for a Rethink?
In the fast-paced world of hospitality, the saying "failing to plan is planning to fail" is highly significant. Whether they run luxurious resorts or small bed-and-breakfasts, hotel companies spend considerable time and effort creating annual budgets. This process is meticulous and time-consuming. However, there is an ironic twist to this story. Despite the significant amount of time and effort invested in budgeting, many hotels often find that the budgets they have created do not align with the reality that unfolds just a few months into the new year.