In any business financial planning and accounting are important factors that help judge the fiscal health of the asset and support of strategic decision making. Timely and accurate accounting information, properly presented, allows owners and asset managers to make meaningful business decisions. Review of historical data is useful in terms of measuring goals and success, however accounting can play a vital role to achieve future goals and reach alignment with the asset's full capabilities.
MTEL uses The Uniform System of Accounts, endorsed by the American Hotel and Lodging Association to present financial information. The following is a summary of the financial management services MTEL offers:
Both monthly and quarterly reports are prepared for ownership. These reports include an analysis of present, past and projected performance. The monthly financial statements include balance sheets, cash flow statements and income statements. A quarterly report is prepared to show and explain deviations in the income statement from the budget, personnel changes, market conditions, sales updates and capital improvement expenditures.
MTEL can either perform all of the accounting functions, from disbursements to statement processing, at our corporate office or decentralize any portion of the process to the hotel level. MTEL believes in tight internal and cash controls, combined with strong management responsibility to maximize profitability.
With an ever expanding and well experienced staff in the hospitality industry, MTEL is competent and knowledgeable in providing services to our clients that will maximize cash flow and return on investment for any investor, for any type and size of hotel property.