Financial Statements Interpretation of Hotels and Hospitality
Details
- 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.
Outline
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.
Speaker/s
Special Offer
Schedules
Tue, Wed, Thu, Fri | 10:00 AM — 04:00 PM |
Tue, Wed, Thu, Fri | 10:00 AM — 04:00 PM |
No. of Days: | 4 |
Alpha Partners is a reputable firm of Training and Management Consultants with many years of corporate training experience in Finance, Accounting, Auditing, Banking, Management, Information Technology, Oil and Gas Sector, Security, Engineering, Public Relations, Secretarial Studies, Leadership, Marketing and other fields of human endeavour.
We are one of the leading players in the profession. Our firm, a multi-disciplinary one with highly talented, experienced and dedicated partners and staff who have experiences in different facets of working life was established in 1996 and has branches in Lagos, Enugu and Awka.
We offer a wide range of professional services, which covers audits, accounting, finance, taxation, ICT, security, engineering, insurance, human resources management, secretarial and consultancy services in all ramifications.
Our numerous clients attest to the high quality services we offer which contribute in no small measure in ensuring sound and efficient management of their resources.