Hotel Management - Understand Rooms Division Profit & Loss
Created by Manish Gupta, Last Updated 30-Nov-2019, Language:English
Hotel Management - Understand Rooms Division Profit & Loss
Hotel Revenue & Expense Analysis with marketing reports and cost management tricks to improve profitability of hotel
Created by Manish Gupta, Last Updated 30-Nov-2019, Language:English
What Will I Get ?
- Ability to understand Hotel Operation structure
- Understand Key terms used in hotel industry in very simple language
- Read Profit & loss statement and other performance reports without prior knowledge of accounting
- Present financial reports to Management
- Analyse the Hotel financial statements and performance results and take strategic decisions
Requirements
- No Prior knowledge of finance or hospitality industry is required, we would be covering the basics of hotel operation as well.
- Need to have passion towards learning hospitality & Hotel Management
- Willingness to dedicate few hours a week to Learn Hotel Management
Description
A wide range of hotel management professionals in operations does not feel comfortable reading and presenting their department's financial performance due to lack of financial background & knowledge and training.
This course is designed to teach how to anlayse Hotel financial statements and with key terms used in operations.
After completing this course i am confident that you will be able to anlayse & 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 of your career as department manager which is managing the departmental P&L
In this unique and first in league online course, we will
- Discuss and understand key unique terms used in hotel management.
- Understand definitions of revenue and expense heads.
- Drill down all revenue and expenses to the deeper level to gain understanding how to create impact through strategic decisions.
- Learn how to analyse the hotel profit and loss statement for room division.
- Discuss the profit & loss templates prescribed by USALI
- All terms explained are in compliance with Uniform system of accounting for lodging industries.
Course is Unique in the sense that we focus on theory as well as practical assignments which i will be reviewing personally and guiding your learning ensuring that you achieve your objective of subscribing to this course. I will ensure that you excel in understanding your hotel management aspects as far as it relates to financial terms.
Even though the course is online with no physical presence, assignments in this course will give you a change of personal interaction as i will review all assignment personally and give you personalized guidance.
Subscribe now and Share the love with others as well.
Who this course is for:
- Hotel Department Heads / Managers who are willing to sharpen their hotel management skills by learning the financial analysis side of operations.
- Front Office Managers, supervisors who wish to advance in their career by learning new skills on how to analyse and present Profit & Loss statements
- Room Division Professionals Seeking a career in Hospitality Industry and hotel management
- All hotel employees who want to learn how to analyse Room Division financial statements
- Hospitality Students who wish to give them a head start in their career by learning things quicker.
Course Content
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Introduction
3 Lectures 00:08:17-
Course Intoduction
Preview00:01:11 -
Hotels Operating Department & Cost Structure
Preview00:03:31 -
Hotels usual Operations Cycle and involvement of operating departments
Preview00:03:35
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Accounting & Financial Reporting in Hospitality
4 Lectures 00:13:45-
How Hospitality Industry is different from others
Preview00:03:50 -
Uniform System of Accounting for Lodging Industry
Preview00:02:33 -
Financial Reporting Package of Hospitality Industry
00:03:16 -
Grand Profit & Loss Statement
00:04:06
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Rooms Division Financial & Operating Reports
19 Lectures 01:25:58-
Rooms Division Section Introduction
Preview00:00:56 -
Understand the structure of Room Division P&L
00:03:24 -
Understand Room Division P&L Part 2
00:03:00 -
Rooms Revenue - General Overview
00:02:02 -
Rooms Revenue - Key Drivers Quantity
00:06:42 -
Room Revenue - Key Driver - Value
00:06:15 -
Room Revenue Segmentation - FITs
00:04:50 -
Room Revenue Segmentation - Groups
00:04:38 -
Room Revenue - Package Elements
00:05:15 -
Barter & Loyalty Program Deals
00:03:57 -
How to Analyse Hotel Revenue
00:05:08 -
Horizontal Analysis
00:06:36 -
Vertical Analysis
00:07:00 -
Revenue Analysis - Simplified
00:04:25 -
Marketing and Operating Reports for Hotel's Revenue Analysis
00:04:33 -
Nationality Report
00:04:27 -
Booking Lead period
00:04:04 -
Upselling & Upgrades
00:03:16 -
Market Bench Mark Report
00:05:30
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Expenses in Room Division
9 Lectures 00:34:40-
Room Division Labour Cost
00:01:16 -
Labour cost Segmentation Management & Non Management
00:03:39 -
Labour cost Segmentation by Dept
00:03:21 -
Labour cost - Service Charge Distribution
00:04:59 -
Labour Cost - Other Components
00:03:21 -
Labour cost Analysis
00:04:42 -
Other Room Cost Items
00:07:05 -
Other Room Division Cost - Nature of Expenses
00:04:09 -
Room Division - Cross Division Charge
00:02:08
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Analyse Division P&L
3 Lectures 00:16:16-
How to Analyse Room Profit & Loss Statement - Steps
00:03:38 -
Analysis Preparation Steps
00:03:26 -
Analysis of Variances & Ratios
00:09:12
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Final Section
3 Lectures 00:11:13-
Bonus Lecture - Cost Management Ides Part 1
00:05:33 -
Bonus Lecture - Cost Management Ideas - 2
00:04:57 -
Thank You Very Much
00:00:43
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