
It's the time of the year when hoteliers need to look into budgeting for their new year energy expenses. A well thought-out strategy on the front end will take a few weeks to develop and can save a lot of explaining of operating expenses throughout the year. The cost of electricity, gas, and water can be among the most volatile costs affecting your financial situation. Hoteliers need to ask themselves what percentage of their annual budget is exposed to price fluctuation in energy markets and begin to prepare their budget. The goal is to have a comprehensive, defendable and accountable budget. READ MORE