Budgeting | erdo

Budgeting is the foundation of success. Our consulting and marketing agency will help you create an effective and realistic financial plan based on detailed analysis that covers all key areas of your operating costs, revenues and investments.

Our professional support focuses on the correct setting of key performance indicators, cash flow control and effective cost management. Thanks to our consulting, you will get an accurate picture of the financial condition of your hotel and will be able to make informed decisions that will support its long-term success.

a chair on a ledge overlooking a body of water

Rooms and Pricing: Setting the right room pricing levels.
Additional Revenue: Revenue from restaurants, wellness, conference services, parking, space rental, and other additional services.
Capacity Optimization: Effectively managing occupancy and revising strategy based on trends, events, and the like.

Fixed vs. Variable Costs: Distinguish between fixed costs and variable costs.
Effective Cost Management: Identify areas where costs can be reduced without negatively impacting service quality.
Personnel Costs: Consider the cost of personnel, which may be seasonal or permanent. Salaries, bonuses, and benefits also need to be considered.

Cash flow planning: It is important to ensure a regular and stable inflow of cash to cover operating costs, investments and loan repayments.
Liquidity and reserves: Ensuring sufficient reserves for unforeseen expenses and seasonal fluctuations in income. Also consider possible investments in reconstructions or modernization.

Reinvestment in the hotel: Planning future investments in infrastructure improvements, renovations or expansion of services that can increase the attractiveness of the hotel.
Technological innovations: Taking into account the costs of modernizing technological equipment and systems (e.g. reservation system, CRM, process automation).

Seasonality and external factors: Consider seasonal fluctuations, business cycles, and external factors (e.g. pandemic impacts, political instability) that may affect your revenue.
Crisis preparedness: It is also important to have contingency plans in place to handle unforeseen situations that may affect the hotel's financial stability.

Setting realistic goals: When creating a financial plan, it is necessary to have clear and measurable goals that take into account your business ambitions (e.g. sales growth, profitability).
Competitive performance overview: Comparing your expectations and plans with those of your competitors in the market will help you set the right goals and identify opportunities or threats.

Ongoing review: The financial plan should be a dynamic document that is regularly updated and adapted to current conditions and trends.
Flexibility: The plan should allow for flexibility to adapt to unforeseen circumstances, such as changes in demand or external influences.