Hospitality Financial Leadership – Food Cost Net Weight
Hospitality Financial Leadership – Food Cost Net Weight — By David Lund

The Hotel Financial Coach · 30 Mar

When people hear the term food cost, they generally think of the simple calculation of cost / selling price = food cost %. This calculation does little more than give you a percentage. Understanding and controlling food cost is much more complex.

Hospitality Financial Leadership – Beverage Controls – Top 10
Hospitality Financial Leadership – Beverage Controls – Top 10 — By David Lund

The Hotel Financial Coach · 23 Mar

Controlling the beverage cost is a big deal in hotels. People like to drink and that's great for the bar, but you have to remember the people serving your drinks need a tight set of checks and balances or else they will help themselves to your supplies. It's just human nature to mess around with the stuff at your fingertips all day long. There is a certain sense of entitlement as well because the wages are small, and people rely on tips. Bigger portions or the odd free one for a client can make a big difference in the tips left behind.

Hospitality Financial Leadership - Controlling Food Cost – Top 10 List
Hospitality Financial Leadership - Controlling Food Cost – Top 10 List — By David Lund

The Hotel Financial Coach · 11 Nov

Food cost is a never-ending battle in a war that does not end. You can never take your foot off the gas, if you do you will slow down. When you slow down in the food cost world it is costly. Back in the day I cut my teeth as a receiver, F&B cost control clerk and ultimately an F&B cost controller.

Hospitality Financial Leadership - Global Food Cost vs Tracking Individual Outlet – Pros and Cons
Hospitality Financial Leadership - Global Food Cost vs Tracking Individual Outlet – Pros and Cons — By David Lund

The Hotel Financial Coach · 30 Sep

What is really important to realize is the food cost calculation in your hotel will always come back to the cost of goods formula. Any attempt to track and individualize the outlet food cost that I have ever seen is a big waste of time. It is a waste of time because it always comes back to the fact that the food cost is calculated by adding the opening inventory to the purchases and then subtracting the closing inventory - as well as any legitimate credits at month end - to calculate the food cost. This is never done in hotels by outlet simply because it is completely inefficient to do so.

Hospitality Financial Leadership – Credits to Cost of Sales in Food & Beverage
Hospitality Financial Leadership – Credits to Cost of Sales in Food & Beverage — By David Lund

The Hotel Financial Coach · 17 Jul

Giving the proper credits to your food and beverage operation is an important task. You want to ensure it is done consistently and fairly. This article examines all the usual credits, different types, the proper way to take them and why we need to take them.