Finance and Cash management for Hospitality

Overview

Welcome to the "Finance and Cash Management for Hospitality" course, where you will gain a comprehensive understanding of financial concepts and practices tailored specifically for the hospitality industry. Explore the basis of cash management and projections for hotels, as well as future planning and potential revenue-generating activities.

Delve into operational plans and cost management practices, including the ABC system, to optimize financial performance. Learn how to work on financial models, covering room revenue budgeting, F&B revenue budgeting, banquet and other operating departments, headcount budgeting, payroll, and other cost budgeting. Additionally, explore budgeting for other hotel operational expenses and cash budgeting exercises.

By the course's conclusion, you'll be equipped with valuable financial skills and insights to effectively manage finances and cash flow in the hospitality sector. Whether you're a hotel professional or an aspiring hospitality entrepreneur, join us now to enhance your financial expertise and drive success in the dynamic hospitality industry.

What Will You Learn?

• Fundamentals of cash management and projections in hospitality
• Future planning and revenue generation activities for hotels
• Operational plans and cost management practices with ABC system
• Financial modeling for room revenue and F&B revenue budgeting
• Budgeting for banquet, headcount, payroll, and other costs
• Handling other hotel operational expenses
• Practice cash budgeting exercises for effective financial management in hospitality.

Who Should Take The Course?

• Hospitality industry professionals, including hotel managers, owners, and staff
• Individuals seeking to enhance their financial management skills in the hospitality sector
• Aspiring entrepreneurs planning to start their own hospitality business
• Students or graduates pursuing careers in hospitality and hotel management
• Anyone interested in understanding finance and cash management specifically tailored to the hospitality industry

Requirements

• Basic understanding of financial concepts and accounting principles (recommended)
• Familiarity with the hospitality industry or interest in pursuing a career in this field
• Access to a computer with Adobe Illustrator installed for practical exercises
• Willingness to learn and apply financial management techniques in the context of hotels and hospitality businesses.