Finance & Accounting
- Financial and accounting departments: who they are, what they do, and why the hotel needs them
- Financial vs. management accounting: differences and architectural principles
- Analysis of core financial statements: Balance Sheet, Profit & Loss Statement, and Cash Flow Statement
- Case study 1: Calculating the hotel’s working capital
- Key hotel performance indicators
- Case study 2: Hotel profitability analysis
- The time value of money concept
Revenue & Cost Management
- Revenue or cash inflow: which matters more?
- Assessing revenue quality and the Revenue Management system
- Case study 3: Calculating ADR, RevPAR, and GOPPAR; preparing an analytical report on sales department performance
- F&B department revenue: key indicators
- The hotel’s main cost centers
- Cost optimization without reducing service quality
- Analysis of the hotel’s accounts receivable and payable
- The revenue-to-cost ratio in the hotel business. The EBITDA indicator
- Case study 4: The optimal hotel occupancy and pricing scenario for profit maximization
Hotel Supply & Procurement
- Organization of high-quality hotel procurement and supply chains
- Specifics of hotel-grade products and supplies. Criteria for vendor and product selection
- Key aspects of the procurement process for goods and services
- Tendering procedures and RFPs. Securing optimal commercial terms
- Monitoring supplier obligation fulfillment
- Inventory formation and management
- Key performance indicators of hotel supply operations