Financial Statements Interpretation of Hotels and Hospitality

OBJECTIVE
• 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.

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities

DATE:

1ST BATCH:        21st – 24th Jan, 2025     

2ND BATCH:       20th – 23rd May, 2025

3RD BATCH:       7th – 10th Oct, 2025