Concepts of Budgeting and Forecasting in Hotels and Hospitality Industries

Participants will learn

• Fundamentals of Budgeting
• How Revenue is Forecasted
• How Expenses are forecasted
• How Capital Budgeting is Done
• Labour Cost Budget Concepts

CONTENT

• Introduction to Budget and Why we do budgets
• Process of Budgeting
• Revenue Forecasting & Budget (Rooms Division)
• Revenue Budget & Forecasting (F&B and Other)
• Prepare a Quick Budget Template and Play Around Scenarios
• Labour Cost Budgeting
• Budgeting for Other variable & Fixed Expenses
• Budgeting for Capital Expenditure

FOR WHOM:

Chief Accountant, Operations managers, Small Hotel Owners, Finance Managers / Asst Finance Managers, Non-Finance background managers.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

This course is available in the following locations:
Nigeria - $5000
Rwanda - $7000
UK - $8000
USA - $8000