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Budgeting for 2021: What Is the New Target? – By Arlene Ramirez

Since March of this year, the hospitality industry has been trying to figure out its new financial target – the best approach to get back on track to positive results – but achieving this target is the least of all worries. Most operators today have come to the realization that the budgets and forecasts developed in 2019 for the year 2020 are but a memory of hospitality industry metrics and strategies must be retooled. Accepting this premise leads to the next question: how do we budget for 2021?

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