Years of hotel management experience has taught us what revenue and expense items to track. Our information and gathering systems are designed to provide efficient use of hotel staff and technology, and to ensure that ROI Hospitality has the necessary operational statistics and details to provide cost-control oversight.
Detailed operating budgets are used to carefully control spending since good control on expense is critical to achieving excellent operation margins. ROI Hospitality implements and monitors strong internal controls which are critical to preventing losses through fraud and theft. We ensure that accepted risk management practices are being followed in order to reduce exposure. Sound accounting practices and concise reporting will help you identify problems and opportunities that otherwise go unnoticed.
ROI's Financial Reporting and Communication will ensure that:
- Each property operates under an annual budget that is prepared in advance
- The budget is submitted to ownership for review and approval
- All financial performance is measured against this plan
- All financial statements are reviewed by the Director of Operations and a summary is prepared and reviewed by ROI Executive Management
- Monthly/Quarterly meetings conducted with ownership
Our Accounting Department will:
- Manage property's funds
- Manage accounts payable and year-end 1099's
- Produce Monthly Profit & Loss Statements
- Maintain Balance Sheet & General Ledger
- Process payroll in-house, including quarterly reports and year end W-2's