In our previous article, we shared insights and advice from global hospitality experts on how to make the 2024 hotel budget process as smooth and painless as possible. Here, we share five ways to improve budget accuracy and performance in uncertain times.
1. Benchmark Against Competitors
In the last article, we discussed the importance of strategic planning, aligning stakeholders, and harnessing relevant data. Another key element of the budgeting process is to benchmark performance against competitors.
