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Huntington Financial Services

At Huntington Hospitality Financial, we are hospitality experts, focused exclusively on hotel accounting and financial services for select and full-service hotels with rooms, banquet facilities, restaurant, bar, gift shop and other ancillary profit centers.

Known for achieving superior results in tough economic environments, this executive team has a track record that is best exemplified by their previous transactions and current operating performance - generating superior returns to investors and increasing hotel performance.

01

Complete Financial Statements

  • Conformance with hospitality uniform system of accounts
  • Timely and accurate financials to meet lender and owner reporting obligations
  • Compare to Current Month, Period to Date, Last Year and Last Year Period to Date and with associated percentages
  • Also includes Comprehensive Statistical Reporting to compare with industry standards: ADR, RevPAR, labor costs, average food check, costs per occupied room, occupancy percentages and more

02

Comprehensive Management Reports

  • Market segments
  • Labor distribution
  • Housekeeping minutes per occupied room
  • Receivables trends, and more
  • Identify trouble spots

03

State-of-the-art Technology

  • Relational databases for efficiency and data extraction
  • Internet connections for real-time data entry, top-of-the-line accounting and payroll software
  • Secure communications and data storage

04

Payroll

  • All payroll reports and taxes
  • Data entry checking
  • Sick and vacation pay reporting
  • Tip reporting
  • Employee records
  • Garnishments
  • Electronic tax payments
  • And more

05

Accounts Payable

  • Review of approvals
  • Coding
  • Spending limits
  • Your criteria used to select payments
  • Checks cut and mailed from HHFC for increased control

06

Cash Management

  • Limited property access to cash
  • Daily actual balances
  • Projected cash positions
  • Bank reconciliations always timely; differences investigated

07

Custom Daily Report Program

  • Monitor daily hotel activity
  • User-friendly screens with automatic summary and reporting
  • Electronic data transfer to secure financial database

08

Budgets

  • Templates provided with automated occupancy/revenue/cost relationships
  • Property tax and depreciation budgeting provided

09

Sales, Use, and Occupancy Tax

  • Invoice review helps avoid audit issues
  • All returns always on time earning maximum discounts
  • Complete tax libraries
  • Up-to-date tax law change notification

10

Audit

  • Year-end package provided to auditors
  • Audits done at our office, not at your property-- no business disruption
  • We work with financial, franchise fee, workers compensation, sales tax audits

11

Workers Compensation and Property Insurance

12

Credit Card Reconciliation

11

Fixed Asset Management

12

Bank Reconciliations

11

Training and Support

  • On-property training during transition
  • Computer monitor shadowing for immediate instruction
  • Specialists in each area (accounts payable, payroll, general ledger, tax) assigned to your property
  • Comprehensive, easy-to-use manuals

Why

Why Choose Us

Outsourcing financial services to Huntington Hospitality Financial can save you money and improve your business. Here are 5 reasons to choose us as your financial services partner!

  1. Cost-saving approach
    • Reduces the number of accounting staff on property
    • Reduces need for accounting office space
    • We store current year information to reduce your file storage space
    • Credit card reconciliations reduces loss of revenue
    • End of year auditor/CPA package reduces your fees
    • Audit facilitation saves time at the property and reduces fines and penalties
    • Preserve client assets through Third Party review
  2. Reliable, long-tenured staff experienced in the hospitality industry, centralized in Dallas, Texas
  3. Financial expertise - we deliver accurate, timely reports to managers, lenders and owners - in the format desired by appraisers and lenders
  4. Improved internal controls achieve economy of scale using tools and state-of-the-art infrastructure for management and centralized accounting systems of Huntington Hospitality Financial Corporation.
  5. Satisfied clients rely on our reputation. We offer unprecedented client loyalty with long-standing contract tenure.