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Article of The Week: By hotelsmag | September 13, 2024 The hotel industry is into the homestretch of 2024. Don’t let up now.  It’s budget season and for any financial leader in an organization that means juggling numbers to find the perfect balance for the upcoming fiscal year. Perhaps you even have your meticulously crafted budget in hand. So, now what? If you’re entering the homestretch of a successful year, you might be tempted to coast through the fourth quarter or take a breather before diving back into the operational improvements that ensure you meet or beat that budget. If your year has not met expectations, you might be considering a reactive, impulsive or even emotional effort to turn things around. Resist these temptations.  The final quarter is a prime opportunity to gear up for the year ahead. It’s a crucial time for businesses to gain a competitive edge by initiating continuous improvement efforts that seamlessly integrate operational practices with management performance systems—efforts that lead directly to cost savings and revenue growth. To truly thrive, hoteliers must go beyond setting financial targets; they need to actively observe their teams, assess the tools at their disposal and consistently refine their strategies to close variance gaps or stay ahead of the curve.  Read More: https://lnkd.in/ee8xXzDF

The hotel industry is into the homestretch of 2024. Don’t let up now.   - HOTELSMag.com

The hotel industry is into the homestretch of 2024. Don’t let up now.   - HOTELSMag.com

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