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| Understanding
the financial, economic and market underpinnings of
the hotel industry is a complex business. |
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| Venerts Hotel Management possesses the sound judgment and proven management
skills to help you realize your goals and the potential
of your investment. We have the commitment, depth, objectivity,
stability and the drive to improve both business income
and value. |
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| Operating
with a centralized accounting office, Venerts maximizes
efficiency and reduces operating costs for each property.
Our positive results point to a strong record for increasing
positive returns on investments. |
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| At
Venerts, the accounting department is responsible for
generating monthly financial statements. Payables are
authorized at the property and forwarded to the Venerts Hotel Management office for payment. This capitalizes on the
advantages of a decentralized system for approvals,
but maintains centralized oversight for internal controls.
The success of this system is due largely to its reporting
flexibility and exacting controls on costs and expenditures.
Standard functions such as accounts payable, cash management,
payroll, general ledger, internal controls, budgets
and forecasts, and fixed cost management are handled
at the corporate level. Risk management, including insurance
procurement, is centralized as well. |
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| Venerts Hotel Management processes payroll on a bi-weekly basis for
all properties. Our accounting department files all
mandatory payroll tax returns, generates W-2 forms and
handles the filing and payment of state and local sales
taxes. Using the accrual basis of accounting, Venerts Hotel Management provides administrative personnel at each
property with timely and accurate financial statements
to ensure that staff operates efficiently and with current
information. |
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| The
resources of Venerts Hotel Management’s centralized system
optimizes economies of scale throughout all aspects
of accounting. The Venerts system demands fewer accounting
personnel and produces highly accurate, informative
and timely financial information. |
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| The
centralized office also closely monitors daily accounting
reports, supervises payroll processing, prepares monthly
bank reconciliations, files sales and use tax returns,
pays invoices and manages hotel cash flow. Taking on
these duties, Venerts Hotel Management frees up on-site hotel
personnel to focus on the needs of guests and employees. |
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| Hotel
ownership receives monthly and quarterly reports, including
an analysis of present, past and projected performance.
Monthly financial statements offer balance sheets, cash
flow statements and income statements. Quarterly reports
are prepared to show and explain trends, market conditions,
sales updates and capital improvement expenditures. |
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| Timely
financial information combined with an extensive background
in financing, refinancing, hotel construction, management
and accounting give Venerts Hotel Management the edge in operating
your property at its full potential. |
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