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
- 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.
- You will learn basic accounting terms which every non-accounting hotel manager should be able to understand.
- 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.
- Understand definitions of revenue and revenue segmentation. What are individual business segments, group segments and other revenue.
- In expenses section, we will learn details of hotel major expenses. such as labour cost, service charge, other non labour cost.
- 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.
- We will look at expenses reports which are helpful to understand cause of variance and give hint on how to control them.
- 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.
- Learn cost and operation management reports and cost management ideas.
- All terms explained are in compliance with Uniform system of accounting for lodging industries.
Why you should take this course
- Become confident in analyzing & present your department's performance easily and professionally.
- You will be able to understand how your decisions affect profitability of hotel and improve hotels profitability.
- Give your Career a head start by learning one of they key responsibilities as department / division head i.e. Managing the departmental financial performance.
- We are not focusing only on theoretical aspects of hotel management but also practical assignments.
- Instructor is available to give you a personal review and attention.
- Continuous guidance in your learning ensuring that you achieve your objective of subscribing to this course.
- 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:
- Hotel Management Students
- Hotel Executives
- Hotel Managers & Supervisors