Page 2 - Financial Fundamentals
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Financial Fundamentals
What is It?
Financial Fundamentals is the knowledge and practical skills needed to
operate your hotel to assist in driving revenue and profitability.
Why is it Important?
• Paying your Business Taxes: Your business will need to meet its
federal, state, and local tax obligations to stay in good legal
standing. Your business structure and location will influence
which taxes your business has to pay.
• Managing Your Finances: Accounting for revenue and expenses
can help ensure you maintain proper bookkeeping and have basic
knowledge of business finances.
• Chargebacks: Gain assistance on how to lower your dispute
volume.
• Profit made by a hotel before taxes, depreciation, management
fees, insurance, debt service and capital expenditures are
deducted.
• GOP: Profit made by a hotel before taxes, depreciation,
management fees, insurance, debt service and capital
expenditures are deducted.
