Every day, I speak with investment partners or colleagues as to how to best navigate the current environment. Consistently, the message is to aggressively drive the top line and with equal fervor protect the bottom line and flow of revenue growth or erosion, maintain as much ADR as possible in your particular circumstance and identify ways to save without negatively impacting the guest experience. Spend smart, save smarter. Frequently, the follow up is “I’ve done the obvious things, now what?” This is a great opportunity to reinforce how real-time data and time management dramatically impact the profit and loss statement.

We all understand the cliché that “time is money.” What is surprising is that many in our industry continue to rely on outdated techniques and technologies to influence / manage costs. The cliché should be updated to “real-time is real money” for all business, including (if not especially) our own.

Let’s begin by establishing that all costs are measured as a percentage of revenue – not in dollars spent. In the current environment where revenues are anything but reliable, the only metric that can be used to determine effective vs. ineffective cost containment is the ...