HFU · 2026 Cohort
Twelve Modules · All Live
The Program 12 Months USALI 12th Edition

Hospitality Finance University.

A twelve-month curriculum that turns working hospitality managers into operators who read a P&L the same way a CFO does.

Built around USALI 12, applied to your own property's numbers, and delivered in monthly modules of 30–60 minutes. Self-guided. Cohort-supported. Designed for resorts, hotels, and clubs.

12
Modules
9h 20m
Total Reading
48
Applied Exercises
36
Cohort Questions
§ 01

How each module works.

Step 01

Read the module

30–45 minutes of editorial-quality content. No fluff, no padding, no AI slop. Designed to be read on a Sunday morning.

Step 02

Apply it to your property

Every module ends with a 4-step exercise that uses your own P&L, your own KPIs, your own budget. The learning is the application.

Step 03

Bring it to the cohort

One live call per month. Three questions to prepare. Eleven other operators looking at their own numbers alongside you.

Step 04

Keep the reference card

Each module ends with a detachable one-page reference: formulas, watch-fors, questions to ask in your next P&L review.

§ 02 · The Curriculum

Twelve modules. One year. Built in the order they're used on the job.

The full curriculum is live. The sequence is deliberate: foundations first, so the vocabulary is fluent. Then the P&L from top to bottom. Then the levers — revenue, labor, procurement — that managers actually pull. Budgeting and forecasting in mid-year, when the annual planning cycle hits. Variance, capital, and asset management to close. The capstone in month twelve asks you to put all eleven of the others together on your own property's numbers.

M·01

Hospitality Finance Foundations & USALI

Why hospitality finance is different · USALI 12 as shared language · reading the Summary Operating Statement · the 11 terms every manager needs cold.
Foundations · 38 min
M·02

The Departmental P&L

Rooms, F&B, Other Operated Departments line by line · revenue centers, COGS, departmental expenses · what to look for in each department's margin.
The P&L · 45 min
M·03

Undistributed Expenses, GOP & EBITDA

A&G · Sales & Marketing · IT · Energy/Water/Waste (renamed in USALI 12) · fixed charges · reading down to GOP, EBITDA, EBITDA less Replacement Reserve.
The P&L · 42 min
M·04

The KPIs that matter (and the ones that don't)

Occupancy · ADR · RevPAR · TRevPAR · GOPPAR · NOI per key · F&B covers and RevPASH · spa, club, resort-specific metrics · which KPI for which decision.
Performance · 40 min
M·05

Revenue Management & Commercial Finance

Segmentation · channel mix · Customer Acquisition Cost (now formalized in USALI 12) · Net Contribution after CAC · how commercial decisions show up on the P&L.
The Levers · 45 min
M·06

Cost Behavior & Labor

Fixed vs variable vs semi-variable · productivity standards (minutes per room, covers per labor hour) · flex scheduling against forecast · the largest controllable on your P&L.
The Levers · 50 min
M·07

Procurement & Buying Practices

Par levels · min/max · supplier consolidation · RFPs · COGS control · F&B cost percentage · beverage cost · recipe costing · inventory turns · shrinkage controls.
The Levers · 48 min
M·08

Budgeting

Bottom-up vs top-down · zero-based · rolling budgets · building the rooms budget from segment + ADR · F&B budget from covers + check · capex and FF&E reserve.
Planning · 55 min
M·09

Forecasting

14-day, 30-day, 90-day rolling forecasts · STR and comp set data · forecast accuracy measurement · reforecasting in volatile periods · linking forecast to labor and purchasing.
Planning · 45 min
M·10

Variance Analysis & Financial Reviews

Reading variance reports · root cause analysis · the monthly P&L review · owner reporting · telling the story behind the numbers · turning variance into action plans.
Reviews · 42 min
M·11

Capital, Cash Flow & Investment Decisions

Cash flow vs profit · working capital · ROI on capex projects · replacement reserve · reading a balance sheet · basic feasibility — IRR, NPV, payback.
The Asset · 50 min
M·12

Asset Management & The Big Picture

Owner vs operator perspective · management agreements · performance tests · brand standards vs profitability · benchmarking · capstone case study tying all 11 modules together.
Capstone · 60 min
The managers who get heard in performance conversations are the ones who can interpret the numbers clearly.
— The principle behind this program