Hospitality Management Corporation
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FINANCIAL REPORTING

One of our finest attributes at HMC is our accounting team. Our financial experts have wide-ranging knowledge and are able to interpret data and provide financial intelligence across all brands, regions and hotel asset types. We use specialized, time-tested systems to interpret and deliver actionable financial intelligence in real-time to our revenue and operational teams to seamlessly shift or adjust their focus to achieve the highest possible revenue objectives and, in turn, profitability. This includes comprehensive financial reporting, meticulous data analysis, detailed financial forecasting, accurate cash management, strategies for maximum profitability and ultimately improved property value based on superior financial performance.

We also customize our services specifically to meet your needs. We provide daily reports to the management team utilizing our proprietary daily reporting package and have tailored our general ledger reporting package to provide you with the most detailed information in the industry. Additionally, we distribute our monthly reporting package directly to ownership in an electronic format making for easier accessibility and assimilation of information. Our goal is to provide our team leaders and ownership groups with meaningful financial detail that allows for profitable decision making in real time.

HMC’s monthly reporting package includes:

  • Manager’s Variance Report
  • Customized Sales & Marketing Reporting
  • Detailed Balance Sheet and Profit/Loss Statement
  • Detailed Trailing – 12 Profit/Loss Statement
  • Forecast and Statement of Cash Flow Projections
  • Detailed General Ledger Report
  • Monthly Occupancy and Average Daily Rate, by Day of the Week
  • Monthly Occupancy Graph, by Day
  • Customized Reporting as Requested from Ownership

In addition to the monthly financial reports, HMC handles the following accounting services:

  • Financial Statement Production and Analysis
  • Budget and Pro Forma Development
  • Fixed Asset Management
  • Bank Account Reconciliation and Cash Management Services
  • Procurement of Credit Card Merchant Services – National Agreement to achieve the lowest discount rates available
  • Accounts Receivable Billing & Collection – Superior bad debt ratio to industry average
  • Purchasing Management with Approval System
  • Accounts Payable Processing with Vendor Statement Reconciliation
  • Payroll Processing and Tax Filing
  • Compilation and Completion of all State and Local Tax Filings
  • Development of Internal Controls with Annual Audit
  • Utilities Management
  • Property Tax Management