How to Financially Prepare Your Hospitality Business for Tourist Season in Colorado Springs

Tourism is a major economic driver in Colorado Springs, bringing in millions of visitors each year to experience breathtaking landscapes, outdoor adventures, and vibrant cultural attractions. If you own a restaurant, hotel, bar, or event venue, preparing for the influx of seasonal travelers is essential for maximizing revenue and ensuring smooth operations.

At Barmann Bookkeeping, we help small hospitality businesses plan, budget, and optimize their finances so they can thrive during peak seasons. Here are some key strategies to get your business ready for tourist season in Colorado Springs.

1. Budget for Seasonal Fluctuations

As demand increases during spring and summer months, costs also rise—whether it’s staffing, inventory, or marketing expenses. A well-planned budget ensures you have enough working capital to handle peak-season expenses while setting aside funds for slower months.

Budgeting Tips:

• Analyze past financials to review previous summers’ income and expenses.

• Plan for high inventory turnover by stocking up on supplies to meet increased demand.

• Set aside emergency funds for unexpected costs such as equipment repairs or supply chain delays.

Helpful Resource:

• Visit Colorado Springs offers insights into expected tourist trends, events, and visitor demographics to help with business planning.

2. Hire and Train Seasonal Staff

As tourism ramps up, you’ll likely need additional staff to maintain quality service. However, hiring seasonal employees can be challenging, and failing to plan ahead could leave you short-staffed.

Hiring Strategies:

• Start recruiting early by posting job openings two to three months before peak season.

• Offer competitive pay and benefits to attract and retain seasonal workers.

• Use local resources like job boards and colleges for temporary staffing.

Where to Find Hospitality Workers in Colorado Springs:

• Pikes Peak Workforce Center – Provides recruitment assistance and job postings.

• Colorado Springs Chamber & EDC – Connects businesses with networking opportunities and hiring resources.

3. Optimize Cash Flow and Reduce Waste

A surge in customers means an increase in cash flow, but without proper financial management, profit margins can shrink due to overspending on labor, food waste, and inefficient pricing strategies.

Ways to Improve Cash Flow:

• Adjust pricing to reflect seasonal demand by implementing dynamic pricing for special events or high-demand weekends.

• Minimize waste by closely monitoring food and beverage inventory to reduce spoilage.

• Automate payments and invoicing using bookkeeping software like QuickBooks to track revenue and expenses in real-time.

Need Help Managing Finances? Barmann Bookkeeping specializes in cash flow forecasting and expense management for small businesses in the hospitality industry.

4. Plan a Marketing Strategy for Tourists

Attracting tourists requires a different marketing approach than targeting locals. Make sure your business is visible on travel websites, Google Maps, and social media.

Tourist Marketing Tips:

• Claim your business on Google My Business and update hours, location, and reviews.

• Partner with local attractions such as tour operators, museums, and parks for cross-promotions.

• Run social media ads targeting travelers on platforms like Facebook and Instagram.

Local Tourism Resources:

• Visit Colorado Springs – A great place to list your business and attract tourists.

• Colorado Springs Chamber & EDC – Offers business networking events to connect with other tourism-driven businesses.

5. Prepare for Large-Scale Events and Festivals

Colorado Springs hosts many high-traffic events that can bring thousands of visitors to your business. Preparing ahead for these key events can boost revenue significantly.

Upcoming Major Events to Prepare For:

• Pikes Peak International Hill Climb (June) – Brings in thousands of motorsports fans.

• MeadowGrass Music Festival (May) – A huge draw for live music lovers.

• Colorado Springs Labor Day Lift Off (September) – One of the biggest hot air balloon festivals in the region.

Find a full list of events at Visit Colorado Springs.

Final Thoughts: Plan Now, Profit Later

Preparing for the tourist season in Colorado Springs isn’t just about handling the busy months—it’s about maximizing profitability while planning for sustainability year-round. With proper budgeting, staffing, and marketing, your hospitality business can make the most of the surge in visitors while staying financially stable during slower seasons.

Need help getting your books in order before the rush? Barmann Bookkeeping is here to assist with cash flow forecasting, payroll management, and financial planning to ensure a successful peak season.

Contact us today to get started.