Category Archives: News

The fast-paced hotel industry handles many financial operations, staff management, and tight rule-following, among other aspects. Hotel audits are thus essential to ensure that everything is working as it should.

Expo events attract many visitors from all across the globe, which can be very beneficial for the hotel sector. For hotels, restaurants, and other leisure businesses looking to increase revenue, trade events, conferences, and international expos are fantastic methods. However, they also present financial issues, which should be appropriately considered and managed.

Paperchase is the leading global hospitality accounting firm. For over 35 years, Paperchase has provided bookkeeping and financial advising to restaurants that drive profitability. Founded in London, the firm now has a global footprint, serving over 3,000 restaurants worldwide.

COGS, or the Cost of Goods Sold, is a vital metric for restaurants that directly impacts profitability. By carefully tracking COGS, restaurants can make data-driven decisions to reduce operational expenses. Key factors influencing COGS include menu pricing, accurate inventory management, and efficient purchasing practices.

Key Performance Indicators (KPIs) are essential tools for measuring a restaurant’s financial health. Two crucial KPIs are Labor Cost and Cost of Goods Sold (COGS). Labor Cost tracks the percentage of sales spent on staff, while COGS measures the direct costs of ingredients and beverages.

Learn how to use your P&L statement as a guide identifying areas for improvement in your restaurant. Discover how to analyze your revenue, COGS, labor, and operating expenses. Dive into your restaurant’s average check and how to maximize profits through upselling.

UAE hotels are known worldwide for their high-end service, lavish amenities, and robust tourist sector. However, handling this business’s finances is challenging behind the scenes.

In the hotel industry, controlling money is very challenging and time-consuming. To process payments, manage expenses, and provide thorough financial records, the financial side of a hotel company must be exact and fast.

In the competitive landscape of the restaurant market, maximizing revenue is paramount for success, but what about the hidden profitability metrics that go unnoticed by even the most experienced restauranteurs?

Budgeting is a crucial part of operating a restaurant. A good budget provides directions and guidance for your team to achieve benchmarks. Your budget allows owners not to operate blindly while sustaining cash flow, especially if you have big expenditures on the horizon.

Your London restaurant is an enormous success and now you have your sights set on bringing your concept to The States. But, tourism and restaurant opportunities are high in Dubai, so your upscale-trendy menu could fare well in the growing market. Better yet, a second London location may work.

Hospitality is a rapidly evolving market with changes defining the success of a business in
an unpredictable industry. In recent years, all industry sectors have been capitalized by a
push for sustainability and a growing need for eco-friendly operations.

MICE tourism, which stands for Meetings, Incentives, Conferences, and Exhibitions, is a growing segment of the tourism industry in the Middle East, specifically affecting hotels and adjacent hospitality sectors.

The Middle East’s dining scene is undergoing a vibrant transformation. Diners are seeking more
than just a delicious meal; they crave an immersive and interactive experience that blends culinary
delights with captivating environments and engaging activities.

A successful restaurant isn’t just about delicious food – it’s about creating a memorable experience for every guest while maximizing profitability. At the helm of this experience stands the general manager, the leader who orchestrates every aspect of the operation.