Learning Outcomes

In this free course, you will learn how to:

• Analyse the hotel financial reports, the Profit and Loss statements and their components
• Explain the basic concepts of accounting like the ‘accrual basis’, the allocation of expenses and the prepayments
• Describe the hotel Profit and Loss statements and horizontal, vertical and ratio analysis
• Evaluate the results of the market benchmark report and the menu engineering report
• Classify the menu items according to their popularity and profitability, reasons and the necessary actions
• Analyse the segregation of labour cost and the segregation by department
• Discuss the nature of expenses, productivity reports, ‘zero-base manning’ and cost management ideas
• List the Profit and Loss analysis steps of the overall operation, the rooms division and the food and beverage division
• Describe the quantitative and qualitative factors in pricing the menu
• Estimate the need to raise prices and the required average guest spending by using MS Excel templates
• Outline the operating and marketing reports, like the revenue by business, and guest nationality