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.
Our accounting services include:
Detailed operating budgets that are used to carefully control labor and purchasing; we know that sound labor and cost controls are critical to achieving positive operations margins
Sound and concise accounting practices that help identify problems and opportunities that may go unnoticed otherwise
Managing property funds, accounts payable, year-end 1099’s, balance sheets, and general ledgers
Produce monthly profit and loss statements
Process payroll —including quarterly reports, W2s, and refinance options
Communication between our business partners and ROI include:
Risk management practices are followed to reduce exposure to threats and create strong internal controls to prevent losses through fraud or theft
Annual budget and sales and marketing plan, that is prepared in advance, and submitted to ownership for review, and approval.
Capital improvement plans
All financial performance is measured against industry standards and reviewed by ROI Hospitality and our hotel management team.
Monthly meetings with ownership are utilized to discuss revenue forecasts, cost controls, along with other important items related to hotel operations and sales and marketing.
Annual insurance policy and service agreement reviews.
Annual Property tax assessment reviews and property tax challenges if warranted.