Critical to the success of every hotel, Financial Information has to be accurate, timely, relevant and delivered in a cost effective manner if it is to be of any value to decision makers. Very often your hotel accounts team have a detailed understanding of the day to day performance of your property but lack the vital tools and techniques to be able to advise on emerging trends in your hotel's performance.
In some cases you have outsourced your accounts function to a local accounting firm or accounting bureau in an effort to reduce your cost base. While the outsourced accounting firm will provide information that meets statutory accounting requirements it may not be hotel industry specific and may lack the Key Performance Indicators (KPIs) that you need in order to control the performance of your hotel.
With increasing specialisation in the accounting industry, it can be difficult to build a hotel finance department with the experience and skills necessary to support your business. The solution to your problem may be to outsource your hotel finance department requirements. PREM Group has a fully resourced and highly experienced hotel finance team available to provide this service to you.