QHA REVIEW April 2017

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FINANCE with Jeremy Wicht CHANGE IS AN OPPORTUNITY QHA REVIEW | 52 The recent decision by the Fair Work Commission (FWC) to reduce Sunday and public holiday penalty rates is certainly big news for the hospitality industry. Without doubt, staffing is one of the biggest costs for a hotel and the additional cost of penalty rates makes maximising the value of your venue through maximised trading hours all the more difficult. While the decision poses an opportunity to reduce costs, it also represents an opportunity to undertake a broader cost review. The time to review your cost controls is now, and here is how: 1. Revisit your rosters: Ensure your labour matches expected sales. By looking at the sales trends (by day and by hour) you can often find savings by adjusting the roster to match your forecast sales. 2. Stock control and point of sale: Point of sale technology is an important investment for any hotel, but so too is the regular stocktake to ensure that the “virtual” stock of the system matches the actuality. If your point of sale system can’t flag slow moving stock and broken up stock units, then it might be time to revisit your system. 3. Revisit your menu: The reduction of penalty rates may mean that you can offer a greater variety such as catering for a family market on weekends. Also don’t dismiss outsourcing labour intensive items on your menus which not only take up precious labour time and kitchen space, but also are outside your core menu that you want to be famous for. 4. Overhead cost review: While the FWC decision may assist with your direct labour costs, other major overheads can easily slip away over time such as electricity, telecommunications, gas, waste removal… Beware of automatically renewing contracts. 5. Cash Handling: Cash is king right? Well it’s also expensive, bulky, difficult to store and difficult to transport safely. The cost of cash handling can be cut dramatically through recycling cash on-site. Labour savings alone can justify automating your cash handling cycle with payback periods as little as 18 months. ROTATING SALARIED STAFF ON MORE WEEKEND SHIFTS IS STILL A VALID COST REDUCTION STRATEGY EVEN WITH REDUCED PENALTY RATES. 6. Interesting: It’s timely with interest rates being as they are, to consider your entire finance costs. Not just the headline interest rate, but also in-built fees and charges, rentals and operating leases that fund the fixed assets which you use in your hotel. 7. Consider your advisers: A relationship with a trusted adviser is paramount to a successful business. Even then, consider the scope of what your adviser does for you. Speaking from experience, weakness in your internal team can be identified by the creep in scope of work your external advisers are asked to do. Don’t be afraid to ask for an estimate of fees. My colleagues and I are only too happy to assist you in reviewing your cost controls. Our hospitality division has worked with many venues so we are well placed to support your hotel in creating savings. Please call me or one of the team in Brisbane at Hanrick Curran Chartered Accountants on 07 3218 3900 or Cairns on 07 4052 7524 to discuss your particular circumstances.
STAFFING MADE EASY? TRUE...A WAY DOES EXIST. AND WE ARE HERE TO HELP. Designed with busy hoteliers in mind, the QHA HR Manual helps you organise every challenge of managing a team of staff. The manual includes comprehensive human resources policies and helpful templates for everything from job descriptions, appointment letters, discipline and termination letters, payroll statements, timesheets, employer and employee forms and much, much more. The recently revised edition is available through the online QHA Shop at www.qha.org.au. $365 for members. $765 for non-members. QHA REVIEW | 53
Page 1 and 2: q u e e n s l a n d h o T E L S a s
Page 3 and 4: LET’S BE HONEST, IN THIS WORLD OF
Page 5 and 6: DAMIAN STEELE QHA Industry Engageme
Page 7 and 8: NEWS BEER ENLIGHTENMENT: AUSSIES DI
Page 9 and 10: NEWS A still from the current TVC -
Page 11 and 12: NEWS NEW FACE FOR THE MONTAGUE The
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Page 15 and 16: APPROVED NEW NEW NEW NEW Multi Play
Page 17 and 18: FEATURE BOWEN THERAPY WHAT BETTER P
Page 19 and 20: FEATURE “WHAT THE CYCLONE SHOWED
Page 21 and 22: FEATURE QHA REVIEW | 21
Page 23 and 24: Hotels - Restaurants - Retail - Bot
Page 27 and 28: Michael Sarquis OLGR is also contac
Page 29 and 30: LEGAL MATTERS with Curt Schatz CHAN
Page 31 and 32: FEATURE BUILDING CONFIDENCE A GOOD
Page 35 and 36: INSIGHTS RENOWNED FOR RESERVE THE N
Page 37 and 38: INSIGHTS QHA REVIEW | 37
Page 39 and 40: INSIGHTS QHA REVIEW | 39
Page 41 and 42: ACCOMMODATION UPDATE with Judy Hill
Page 43 and 44: TRAINING AND SAFETY APPROVED MANAGE
Page 45 and 46: with Damian Steele INDUSTRY ENGAGEM
Page 47 and 48: COMPASS MARY’S COMMERCIAL HOTEL D
Page 51: EMPLOYMENT RELATIONS Full Bench Dec
Page 55 and 56: Q&A IF IN TOWN AT THE TIME MAKE SUR
Page 57 and 58: John Rozentals WINE CHANDON’S CHI
Page 59 and 60: TOP DROP SLEEPING GIANT INDIA PALE
Page 61 and 62: SHOWCASE CLEVER COOKING WITH THE TU
Page 63 and 64: QHA PARTNERS & CORPORATE MEMBERS QH
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