Financial Management for Hotels
The aim of this development seminar is to extend participants understanding of key tactical and strategic financial approaches applicable to managing hotels at the property level; by understanding the hotel business financial dimension. The focus will be on engaging marginal accounting techniques in a complex hotel environment (through “The Profit Planning Framework: Dropping a Stone into Water”) and recent research into determining hotel customer portfolio profiles (in the form of “Customer Profitability Analysis).
The content will comprise concise explanations and illustrations in the context of live business situations, using industry-specific examples. This includes understanding the concept of hotel orientation in terms of decision-making and the importance of developing "profitable revenue". Throughout the seminar there will be minimum use of theory and technical jargon and emphasis on financial terms in a hotel context.
Price : €2,300 (excl. tax)
|Duration:||2 days and a half|
|Date:||March 14, 2016|
|Location:||CNIT Paris La Défense|
ESSEC Hospitality Executive Education - Participants Testimonials - Finance & Real Estate
Peter Harris is Professor Emeritus at the Oxfort School of Hospitality Management (Oxfort Brookes University).Topics include
- Understanding Hotel Financial Statements.
- Understanding Real Estate Finance.
- Cost/Volume/Profit (CVP) and Break-even Analysis.
- GOP Flow-Through, Transformation Ratio.
- Operating Leverage.
- Financial Leverage.
- Measuring Investment Performance.
- EBITDA, Return on Capital Employed (ROCE),Return on Assets (ROA), Return on Equity (ROE).
- Hotel Vocabulary versus Finance Vocabulary.
- Understanding the Statement of Cash Flow (SCF).
The underlying theme of the workshop is a comprehensive understanding of the construction and interrelationship between the Income Statement, the Balance Sheet, and the Statement of Cash Flow. The course uses lectures, individual & group exercises and discussions as teaching methods and also makes use of the CHASE (Cornell Hotel Administration Simulation Exercise) to help enhance learning.