In this text, a leading hospitality educator and industry consultant gives readers the means to ensure customer satisfaction and produce acceptable profit margins. Two new chapters review different methods of cost control strategy and operations, including information systems and computerized cost control.

Chapter 1 Introduction: A Trip Through Time

Chapter 2 Travel Patterns and Trends

Chapter 3 Leisure Time and Tourism

Chapter 4 Travel Motivators and Destination Life Cycles

Chapter 5 Attractions

Chapter 6 Governments and Tourism

Chapter 7 Tourist Statistics

Chapter 8 Transportation Methods

Chapter 9 Automotive Travel

Chapter 10 Rail Travel

Chapter 11 Ship Travel

Chapter 12 Air Travel

Chapter 13 Accommodations

Chapter 14 Timesharing

Chapter 15 Conventions and Incentive Travel

Chapter 16 Food Services

Chapter 17 Economic Impacts

Chapter 18 Environmental Impacts

Chapter 19 Cultural Impacts

Chapter 20 Planning

Chapter 21 An Introduction to Feasibility Studies

Chapter 22 Marketing

Chapter 23 Tour Wholesalers and Operators

Chapter 24 Travel Agencies

Appendix An Introduction to Franchising

Index

Financial Control for Your Hotel gives hotel general managers and finance executives a clear understanding of the techniques of cost control essential to the success of a motel or small hotel. This easy-to-use guide expands readers’ understanding of everything from the basics of hotel finance to improving the bottom line. Industry expert Michael M. Coltman provides clear explanations for organizing the balance sheet and the income statement, as well as for handling purchasing and hiring—areas critical to profitability. Financial Control for Your Hotel also offers valuable guidelines on all areas of finance related to hotel operations, including pricing, income statement analysis, and budgeting. Special coverage of investments helps managers plan for long-term financial growth.