Hotel Financial Statements

Hotel Financial Statements
$129.00
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This online, self paced, interactive course: Understanding Hotel Financial Statements, for the non-financial hospitality manager, is filled with basic hotel terminology, statistics, examples and exercises to improve financial management skills! 

In the busy hospitality industry, it is difficult for hotel executives to find the time to teach managers and supervisors how to interpret and analyze financial statements. After all, the financial statements are one of the key report cards upon which the hotel executive team is being judged. This course is designed to fill that gap, and to educate those staff members using terms that the General Manager or Director of Finance would use.

The course starts with the statement of income page of a typical hotel and steps through the rooms, food and beverage, other operated departments, undistributed departments and fixed expense departments. In each department, terms and key operating statistics are identified and described in terms that senior management would use. From occupancy and average rate by market segment to analyzing labor using percent and productivity calculation, this course will significantly improve a staff member’s understanding of hospitality financial statement analysis.

The course is packed with hands-on exercises to solidify the learning experience. (Microsoft Excel is required to take this course.)

This course was developed by Louis W. Sanford, CPA. Louis is a seasoned hospitality veteran with over 30 years of hotel finance and accounting experience, and has shared that experience with hospitality professionals by speaking at several recent HFTP conferences. He teaches this course using simple terms that are easily understood, and has packed the course full of interactive activities to assist in the learning process.

Section 1 - Introduction/Objectives

  1. “Welcome” Video
  2. Course Introduction
  3. Course Objectives
  4. Navigating through the Course
  5. Navigating with Buttons
  6. Movie and Listen Buttons
  7. How to Use Interactive Activities

Section 2 - The Statement of Income

  1. Introduction
  2. Example of Statement of Income
  3. Summary Operating Statement
  4. Quiz

Section 3 - Operated Departmental Profit and Loss Statements

  1. Introduction
  2. Profit and Loss Statement Structure
  3. Revenue
  4. Cost of Sales
  5. Gross Profit
  6. Payroll and Related Expenses
  7. Other Expenses
  8. Departmental Income (Profit)
  9. Profit & Loss Statement Structure Summary
  10. Quiz/Exercises

Section 4 - Rooms Department P & L

  1. Video Introduction
  2. Example
  3. Sections
  4. Analyzing
  5. Profit Section
  6. Room Revenue Section
  7. Occupancy %
  8. Occupancy % Categories
  9. Average Daily Rate
  10. RevPar
  11. Review of Terms and Formulas
  12. Exercise – Terms and Formulas
  13. Room Revenue Mix and Related Ratio Effects
  14. Payroll & Related Expenses
  15. Labor Productivity
  16. Other Expenses
  17. Other Ways to Look at Other Expenses
  18. Quiz

Section 5 - Analyzing Rooms Department Statements

  1. Rooms Department P & L
  2. Room Revenue by Market Segment
  3. Room Nights and ADR
  4. Labor Report – Rooms
  5. Cost per Occupied Room

Section 6 - Food & Beverage Department P & L

  1. Video Introduction
  2. Introduction
  3. Example
  4. Revenue Section
  5. Revenue Terminology – Covers
  6. Revenue Terminology – Average Food Check
  7. Revenue Terminology – Capture Ratio
  8. F & B Cost of Sales
  9. F & B Cost Analysis
  10. Mix of Sales Effect on Food Cost
  11. Mix of Sales Effect on Beverage Cost
  12. F & B Labor
  13. Food Labor Productivity
  14. Beverage Labor Productivity
  15. F & B Other Expenses
  16. F & B Other Expense Analysis
  17. Quiz

Section 7 - Analyzing Food & Beverage Dept. P & L

  1. Visual Walk-through
  2. Food Revenue
  3. Covers and Average Checks
  4. Payroll Hours Report
  5. Catering
  6. Beverage
  7. Re-visit Summary Food and Beverage

Section 8 - Other Operated Departments

  1. Video Introduction
  2. Departments in this Section
  3. Telephone/Telecommunications Dept.
  4. Golf Course & Pro Shop
  5. Health Club/Spa Dept.
  6. Parking Garage
  7. Condominium Department
  8. Rent & Other Income Dept. 

Section 9 - Undistributed, Distributed, and Fixed Expenses

  1. Departments Included
  2. Undistributed vs. Distributed
  3. Administrative & General Department
  4. Sales & Marketing Department
  5. Property Operation & Maintenance Department
  6. Energy Department
  7. Distributed Departments
  8. Employee Cafeteria
  9. Employee Benefits Department
  10. Gross Operating Profit
  11. Management Fees
  12. Fixed Charges
  13. Video Conclusion
  14. Thank You

Copyright Notice

This product was added to our catalog on Tuesday 03 April, 2007.

 

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