InterContinental Baku, an IHG Hotel’s Post

Matouk Bassiouny & Hennawy (MBH) has successfully acted as the legal counsel for the owning company in negotiating and concluding the management agreement with Rixos, a part of Accor’s portfolio, one of the world’s leading hospitality companies. This agreement pertains to the luxurious Rixos Premium Alamein Hotel, previously known as “Regal Heights”. Mahmoud Bassiouny, the Regional Managing Partner and Group Head of Finance & Projects, and Mostafa Ali, an Associate at the firm led the MBH team advising on this matter. Their expertise and guidance were instrumental in the successful conclusion of this agreement. Read the full article >> https://lnkd.in/d93Wpu6J #LegalcommunityMENA #legaladvisor #agreement

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Good morning connections.. Back with another topic from audit Audit of Hotel #audit #auditing #hotel #audits #icaiexams #ca #caexams #castudent

If you intend to grow your career in Hospitality especially with big brands ...take time to learn about USALI....it's a different animal to non hospitality finance personal.....USALI stands for the Uniform System of Accounts for the Lodging Industry. It is a standardized accounting system specifically designed for the lodging industry to ensure consistency and comparability in financial reporting. USALI provides guidelines on how to categorize and report financial information, making it easier for hotel managers, owners, and stakeholders to analyze financial performance and make informed business decisions. #hospitalityfinance#insights

I Hate (Most) Accountants (In the hotel industry) Why? Because most hotel accountants here are dry, very risk averse, boring and stale as f**k. People with no experience dealing with customers and with no people skills, should not be allowed to dictate or interfere with policies or matters, regarding customers. In places they are allowed to do so, I have personally experienced a level of damage to the reputation of the property, one does not recover from. I have also seen policies implemented that made no sense whatsoever, under the guise of..... "it's for the good of the company". Perhaps the word hate is too strong but I have worked with a few of them who had this God complex. Not that all accountants are bad people or anything, but there are a lot of people that just "fall" into accounting roles in hotels, without really understanding what their jobs in a hotel is really about. The best accountants I have worked with in this industry are those not averse to a little risk taking and who can think a little out of the box while having some real world experience.

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The hotel night audit process ensures daily financial balance for hotel operations. This task, managed by a night auditor, typically begins around 1:00 A.M. when transactions slow. The auditor starts with a preliminary reconciliation, calculating total revenue from rooms, taxes, banquets, food, and other services. Errors are investigated, adjustments are made, and totals for credit card charges and departmental charges are verified. The "date is rolled" to move operations to the next business day, and remaining charges are posted. Discrepancies are flagged for shift managers, while backup reports are prepared for system reliability. Night auditors reconcile accounts and ensure departmental charges appear on guest folios, producing a daily report to monitor hotel performance. Key performance indicators like Average Daily Rate (ADR) and Revenue per Available Room (RevPAR) assess the hotel's financial health, providing valuable insights into operational success. #pubilic_investment_Fund #Oxagon #Magna #Sindalah #Enowa #Topina #neom #Diriyahgate #saudiarabia #vision2030 #saudiprojects #projects #redsea #architecture #sea #redseaglobal #LuxuryTravel #RedSea #saudi #redseaglobal #saudivision #resort #Hotel #hospitality #saudihotel #taiba_investments #Qiddiya #Sindalah

M3-Hotel Finance USALI - F&B Cover Analaysis, P&L, Food Cost #financeandaccounting #accountingandbookkeeping #accounting #onlinecourses #udemy #education #freeonlinecourses

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