Are You Overpaying Management Fees? Gross vs. Net Reporting and the Impact of Improper Accounting
When reporting gross operating revenue, correct classification of expenses is important. Presenting items gross when they should be net can potentially cause a property to overpay fees, including its property management fees. The classification of these expenses is dependent on…
GHACP and the Hot Off the Press USALI 11th Edition
The news is out! The 11th edition of the Uniform System of Accounts for the Lodging Industry (USALI) is now available and due for implementation in 2015. As opposed to the green soft cover of its predecessor, the 11th edition…
USALI Survey Results Indicate Items That Need Updating
The USALI (Uniform System of Accounts for the Lodging Industry) has long been an important financial reporting guide within the lodging industry. As the industry’s business practices change, of course updates to the USALI follow. In March, the HFTP Research…