Analyse and interpret hotels overall financial statements

Hospitality Management Course - Analyse Hotel Profit and Loss Statement

Analysing Hotels profit & Loss statement of the hotel is one of the main tasks of hotel managers. Hotel department heads need to analyse profit & loss of their department, compare with budget and previous years performance to understand opportunities of profit maximization. Hotel Managers need to explain in monthly profit & loss meeting their recommendations so that all hotel efforts are aligned to gain profit. All is good till here and now the problem starts.

Problem is, a lot of department heads are not formally educated in finance. They are not able to understand profit & loss and make complicated calculations or equipped with necessary skills to read and understand hotel financial statements. This course aims to take the pain from you and teach you step by step how to read, understand, analyse and explain hotel profit & loss statement.

In this unique online hospitality management course, you will

  1. learn all the 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.
  2. You will learn basic accounting terms which every non-accounting hotel manager should be able to understand.
  3. You will also learn standard templates prescribed by USALI for hotel financial statements. meaning of different columns and a step by step approach to analyse them.
  4. Understand definitions of revenue and revenue segmentation. What are individual business segments, group segments and other revenue.
  5. In expenses section, we will learn details of hotel major expenses. such as labour cost, service charge, other non labour cost.
  6. We will also 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 Last Year.
  7. We will look at expenses reports which are helpful to understand cause of variance and give hint on how to control them.
  8. These section to the deeper level to gain understanding how to create impact through strategic decisions.Learn how to analyse the overall hotel profit and loss statement in systematic approach.
  9. Learn cost and operation management reports and cost management ideas.
  10. All terms explained are in compliance with Uniform system of accounting for lodging industries.

Why you should take this course

  1. Become confident in analyzing & present your department's performance easily and professionally.
  2. You will be able to understand how your decisions affect profitability of hotel and improve hotels profitability.
  3. Give your Career a head start by learning one of they key responsibilities as department / division head i.e. Managing the departmental financial performance.

 

Unique Features

  1. We are not focusing only on theoretical aspects of hotel management but also practical assignments.
  2. Instructor is available to give you a personal review and attention.
  3. Continuous guidance in your learning ensuring that you achieve your objective of subscribing to this course.
  4. Regular Updates on case studies based on your feedbacks

Even though the course is online with no physical presence, assignments in this course will give you a change of personal interaction, as we will review all assignment personally and give you personalized guidance.

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Who this course is for:

  1. Hotel Management Students
  2. Hotel Executives
  3. Hotel Managers & Supervisors
  • Course Duration: 3 Hours
  • Course fees - USD 9.99
  • Course Curriculum

    First you will learn about -

    1. Introduction to the course.
    2. Introduction to Hotel Operations,
    3. Fundamentals of Accounting Concepts,
    4. What is Allocation of Expenses
    5. What are Prepayments?

    In this section we will review Key terminology used in hospitality industry

    • 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),
    • What are various Revenue Segmentation (Transient Business),
    • Hotel Revenue Segmentation (Group Business) and
    • F&B Revenue Segmentation Fundamentals.

    In this  Section we will review

    • Standard Profit & Loss Templates Prescribed by USALI for Lodging Industries
    • 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).

    In this Section we will cover various revenue management and analyis reports in breif

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

     In this section we will look at various hotel expenses in general and some cost management ideas

    • Labour Cost Basic Pay & Wages,
    • Labour cost - Service Charge,
    • Labour Cost - Other Components,
    • Labour cost Analysis,
    • Other Expenses and Control Reports,
    • Cost Management Ideas Part 1,
    • Cost Management Ideas - Part 2 and
    • Identify What Expenses matters in your hotel and are worth managing and why!.
     

    In this Section we will look at overview analysis of  P&L.

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

    BONUS LECTURE

    Sample Videos