Hotel management is a challenging but rewarding field that involves overseeing and managing the operations of a hotel. Pursuing a degree or diploma in hotel management offers a range of learning opportunities that equip students with the knowledge and skills needed to succeed in the hospitality industry.
One of the key areas of learning in hotel management is guest service management. This involves understanding the needs and preferences of guests and ensuring that their expectations are met or exceeded. Students learn how to provide excellent customer service and how to deal with challenging situations that may arise during a guest’s stay. This skill is vital as customer satisfaction is essential in the hospitality industry.
Another area of learning in hotel management is operations management. This involves understanding the day-to-day operations of a hotel, including managing staff, inventory, and finances. Students learn how to create effective systems for managing hotel operations, including how to manage resources efficiently, how to track revenue and expenses, and how to ensure the smooth running of the hotel.
Marketing and sales are also important areas of learning in hotel management. Students learn how to develop marketing strategies and how to promote the hotel to potential guests. They learn how to identify market trends and customer preferences, and how to leverage social media and other digital platforms to increase the hotel’s visibility.
Finally, students pursuing a degree or diploma in hotel management also learn about hospitality law and regulations. They learn how to comply with industry standards and regulations, including health and safety regulations, employment laws, and environmental regulations. This knowledge is crucial as non-compliance can lead to serious consequences, including legal action and damage to the hotel’s reputation.
Hotel Management Course – Analyse financial statements and performance
Last Updated: 2022-04-22
Understand hotel/s standard profit & Loss statements, how to read and analyse them. What supporting reports are required to understand and diagnose financial performance of the hotel.
How will Learnfly help with the study of hotel management?
This course will help you to become an expert in hotel management by analysing hotel operational & financial performance with ease.
In our experience, Hotel management professionals in operations do not feel comfortable reading and presenting their department’s financial performance due to a lack of financial background, knowledge and training.
Why you should take this course
- Learn how to analyse Hotel financial statements and key terms used in operations, and cost management ideas.
- After completing this course you will become in analyzing & present your department’s performance easily and professionally.
- You will be able to understand how your decisions affect the profitability of hotels and improve hotels’ profitability.
- Give your Career a head start by learning one of the key responsibilities as department/division head i.e. Managing the departmental financial performance.
In this unique hotel management 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 a deeper level to gain an understanding of how to create impact through strategic decisions.
- Learn how to analyse the overall hotel profit and loss statement.
- Learn important revenue management & marketing reports
- Learn cost and operation management reports and cost management ideas.
- Discuss the profit & loss templates prescribed by USALI
- All terms explained to comply with the Uniform system of accounting for lodging industries.
- focus on theory as well as practical assignments
- Personalized review personally
- Continuous guidance in your learning ensuring that you achieve your objective of subscribing to this course.
- Regular Updates on case studies based on your feedback