August Tip of the Month – CHOICE Franchise Fees

Accuracy + Awareness = Profit

How you track Choice Fees is one key to comparing how your hotel’s profit measures up

Redoing your accounting can be an overwhelming task, but standardizing to the 11th Edition of the USALI will make your GROW Profitability Analysis even more meaningful. Each month we want to provide you one small step you can take towards this goal.

Our topic of the month is “Franchise Fees”. Did you know that the 11 th edition expects the entirety of these fees to be broken down in various departments? If you’re currently grouping them together in one line, we recommend creating the accounts highlighted below. We’ve also included the Departments .

Whether you want to compare your expenses to other operators, to improve your income, OR have a meaningful conversation about your Fees; detailed accounting will help you greatly.

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