A beautiful hotel with a pool and a great location! You can’t wait to go on your next vacation at a beautiful resort like this, but it is so expensive! Where does all of that money go and who accounts for all of it? How can the hospitality industry be sure the money is going to the right placed? How can a hotel know that an employee isn’t skimming some money off the top? This is where Hospitality accountants come into play.
First let’s figure out exactly what “hospitality” means. Merriam Webster’s Dictionary defines hospitality as, “generous and friendly treatment of visitors and guests or hospitable treatment.” So the hospitality industry is an industry that caters to this exact type of need. The industry includes a broad category of fields within the service industry and includes lodging, food and drink service, event planning, theme parks, transportation, cruise line, traveling and additional fields within the tourism industry. Obviously, this is a long list of different fields, but they all have one thing in common – each of these fields wants to make the customer happy and feel at home.
After you pay for your room, or your cruise, for example, the money you pay goes onto the hotels books. Continue Reading “Hospitality – Booking a Room is Just the Beginning”