• You will learn basic accounting terms which every non-accounting hotel manager should be able to understand.
• learn details of hotel major expenses. such as labour cost, service charge, other non labour cost.
• key and unique terms used in hotel management such as ADR, Occupancy, Revenue, RevPAR, available rooms. You will also learn how to calculate these terms.
• learn various reports, that we can use to drill down all revenue into more details, to be able to provide explanations for variances from budget and previous Year.
• Learn cost and operation management reports and cost management ideas.

CONTENT

Introduction

• Introduction to Hotel Operations,
• Fundamentals of Accounting Concepts,
• What is Allocation of Expenses
• What are Prepayments?

Key Terms in Hospitality

• Rooms Division Key Terms (Occupancy & Related Terms),
• Room Division Key Terms ADR and Related Terms,
• F&B Business (Key Quantity Drivers),
• Food & Beverage Division (Key Revenue Terms),
• Various Revenue Segmentation (Transient Business),
• Hotel Revenue Segmentation (Group Business)
• F&B Revenue Segmentation Fundamentals.

Standard Template and Analysis

• Standard Profit & Loss Templates
• Revenue Reports Analysis Fundamentals,
• Horizontal Analysis in practice through Room Segment Analysis,
• Vertical Analysis Explained via Room Segment Report and
• Combined Analysis Simplified (Market Segment Report).

Revenue Management and Analysis Report

• Guest Nationality Report,
• Booking Lead Period and Booking Pace Concepts,
• Market Benchmark & Competitor Comparison Report,
• Upselling & Upgrades,
• Menu Engineering Report and
• Revenue Analysis Report.

Expenses and Expense Control

• Labour Cost Basic Pay & Wages,
• Labour Cost - Service Charge,
• Labour Cost - Other Components,
• Labour cost Analysis,
• Other Expenses and Control Reports,
• Cost Management

Overall Profit and Loss Analysis

• Profit & Loss Analysis Steps,
• Room Division Profit & Loss,
• F&B Profit & Loss Statement and
• P&L Analysis & Corrective Action Report.

FOR WHOM:

Hotel Managers, Supervisors, Hotel Executives, Chief Accountant, Finance Managers / Asst Finance Managers, Non-Finance background managers.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

This course is available in the following locations:
Nigeria - $5000
Rwanda - $7000
UK - $8000
USA - $8000