Loading

Alison's New App is now available on iOS and Android! Download Now

Hotel Overall Financial Statements and Restaurant Menu Pricing

Learn how to analyze hotel overall financial statements and how to set menu prices, with this free online course.

Publisher: Manish Gupta
Hotels need to ensure profitability and this course will teach you how to do so. The key revenue terms and the Profit & Loss statements are presented. The revenue management and the expense control reports are also discussed. The overall Profit & Loss analysis steps are described. Finally, this course explains pricing the menu of restaurants. Do you want to control expenses and maximize profit? So why wait? Start learning today.
Hotel Overall Financial Statements and Restaurant Menu Pricing
  • Duration

    4-5 Hours
  • Students

    110
  • Accreditation

    CPD

Share This Course And
Earn Money  

Become an Affiliate Member

Description

Modules

Outcome

Certification

View course modules

Description

Profitability is a very important aspect of any business. But how we can control the expenses and maximize profit in businesses? This can be done with financial statements and reports. In this course, you will learn how to analyze and understand the overall financial statements the hotels use. Also, you will learn how to price the menu of the restaurants. This course at first describes the hotel operations and the cost structure. You will learn the divisions and main departments of the hotel and their secondary individual departments, before diving into the financial statements. The overall financial statements which are presented in this course, are prescribed by the Uniform System of Accounting for Lodging Industries. This course will introduce you to the Grand Profit & Loss (P & L) statement, and the secondary P & L of the divisions. The fundamentals of accounting concepts are presented, which are accruals, allocation of expenses and prepayments. But how can we manage the revenue in the hotel? This course will teach you the key revenue terms about the quantity like the occupancy, the value like the average rate, and the segmentation. The key quantity and value revenue terms for the rooms division and the food & beverage division are presented. Also, you will learn about the segmentation for revenue of the rooms division and the food & beverage division of the hotel.

Next, this course will explain in more detail the standard templates for the hotel Profit & Loss statements, as the Grand P & L and its main parts. Also, you will learn the secondary P & L statements. But how we can evaluate the performance and the profitability of the hotel? This can be done with horizontal, vertical analysis and ratio analysis. You will go through examples of horizontal, vertical and combined analysis. Also, you will learn the limitations and key concepts of ratio analysis. But are the P & L alone enough for the revenue management? The hotel needs to make operating and marketing reports, as the business source and the guest nationality reports. You will also learn about the booking lead period, booking lead pace, upselling and upgrade reports. The course will introduce you to the market benchmark report. Also, there is the need for menu engineering and the classification of menu items about their profitability and popularity. Following that, this course will teach you about expenses and expense control reports. You will learn about labour cost, its segregation, and its other components as the service charge. The nature of the labour cost, such as fixed, variable, or semi-variable is explained. Also, you will learn about productivity reports and zero-base manning. Do you want to know how to manage the cost? This course presents cost management ideas.

The last part of this course about the overall financial statements is the Profit & Loss analysis. You will be introduced to the 5 steps of Profit & Loss analysis. You will learn to implement the analysis in the Profit & Loss statements, such as the Overall, the Rooms Division and the Food & Beverage Division. But how can you set the menu prices for the restaurant? You will learn the reasons why, and the quantitative and qualitative factors of pricing the menu. This course will guide you through menu costing excel templates found in the resources section about estimating the need to raise prices, and the desired average guest spending. Finally, this course defines the qualitative factors that can make the prices higher, the same or lower than the competition. This course will be useful to hotel managers who want to use the various financial statements, to control expenses and to maximize profit. Also, is useful to the food & beverage managers of hotels, and to individual restaurant owners, who want to set menu prices using data. Are you interested in using financial statements, types of analysis, and reports, to control expenses, maximize profit and provide value for money? So why wait? Start learning today.

Start Course Now

Careers