Professional Hotel Management Finances

What you'll learn
Essential hotel key performance indicators to track your hotel performance
Key financial ratios for the hospitality industry
The ultimate guide to hotel finance and funding sources
Smart cost saving ideas for hotels
Hotel budgeting: guide on how to make a budget plan for a hotel
Top hotel revenue management strategies to adopt
Hotel pricing strategies for effective revenue management
The top cash flow challenges in the hotel industry and how to overcome them
Requirements
No special requirement
Desire to learn more in hotel issues
Seeking knowledge to enhance hotel work
Description
Profitability is the ability of a business to generate earnings from its operations over a given period. Profitability ratios provide insight into how a business is performing and are key tools for conducting an accurate analysis of financial statements. Every business owner should be acquainted especially during crisis, with these parameters represent and how they are calculated since they scrutinized closely, particularly when dealing with banks. Demand forecasting is vital to maximizing hotel revenues. It enables you to plan ahead and reflect on your pricing decision later on, allowing you to learn from past mistakes and optimize for the future. As a result, your forecasting precision improves incrementally with actual demand positioning you to act on opportunities and minimize unexpected surprises, and thereby optimize your hotel's revenue potential. Complex hotel operations require a significant amount of investment in order to run on a daily basis. Chief among stakeholder concern is a hotel's ability to successfully manage its various debt without risking a default on payment. To alleviate such potential fears, hoteliers can turn to solvency ratios that analyze their various financial commitments. The hotel occupancy rate is dependent on the number of bookings you get, and your revenue is dependent on the occupancy. Basically, you need to increase your number of bookings to grow your occupancy rate and thereby revenue. Your number of bookings can be increase by implementing various hotel revenue management strategies in addition to consistently following strong marketing techniques. The concept of revenue management for hospitality industry cannot be covered without touching base with competitor analysis. After all. competition analysis is one of the fundamentals of creating robust hotel management strategies, Basically with competition analysis, you can understand your competitors' strength and weakness. You can know your position in the market and eventually work to stand out.
Overview
Section 1: Introduction
Lecture 1 Introduction
Lecture 2 Revenue management
Lecture 3 Revenue management process
Section 2: Essential Hotel Key Performance Indicators To Track Your Performance
Lecture 4 Hotel occupancy rate
Lecture 5 Average daily rate
Lecture 6 Revenue per available room (Revpar)
Lecture 7 Earnings before interest, taxes, depreciation and amortization
Lecture 8 Total revenue and total bookings
Lecture 9 Average length of stay
Section 3: Key Financial Ratios For The Hospitality Industry
Lecture 10 Introduction
Lecture 11 Solvency ratios
Lecture 12 Operating ratios
Lecture 13 Profitability ratios
Section 4: The Ultimate Guide To Hotel Finance And Funding Sources
Lecture 14 Hotel Loans
Lecture 15 Traditional hotel investment
Lecture 16 Hotel funding from family office
Lecture 17 Locally source investment
Lecture 18 Crowdfunding hotel investment
Lecture 19 Government grant for hotels
Section 5: Smart Cost Saving Ideas For Hotels
Lecture 20 Analyse your expenses in detail
Lecture 21 Cross-train staff for optimum resource utilization
Lecture 22 Use technology to cut cost
Lecture 23 Deploy self-check-in kiosk
Lecture 24 Lower electricity cost by going green
Lecture 25 Optimize your hotel marketing
Lecture 26 Practice preventive maintenance for appliances
Lecture 27 Use your hotels less utilized spaces
Lecture 28 Negotiate with vendors
Section 6: Guide On How To Make A Budget Plan For A Hotel
Lecture 29 What is an annual budget
Lecture 30 Importance of strategic budgeting for your hotel
Lecture 31 How is the budget calculated in the hotel industry
Lecture 32 Types of budget for hotels
Lecture 33 Good practices of budgeting in a hospitality industry
Lecture 34 Key steps in preparing annual budget for hospitality business
Section 7: Top Hotel Revenue Management Strategies To Adopt
Lecture 35 Introduction
Lecture 36 Budget and forecast
Lecture 37 Load rates and inventory
Lecture 38 Perform demand forecasting
Lecture 39 Adopt a uniform distribution method
Lecture 40 Make a responsive hotel website
Lecture 41 Use meta search to your advantage
Lecture 42 Try multiple pricing strategies
Lecture 43 Adopt the latest technology solutions
Lecture 44 Redesign your loyalty program
Section 8: Hotel Pricing Strategies For Effective Revenue Management
Lecture 45 Demand-based pricing
Lecture 46 Rate parity pricing
Lecture 47 Optimized rate level utilization
Lecture 48 Day of week pricing
Lecture 49 Penetration pricing
Lecture 50 Length of stay pricing
Lecture 51 Upselling and cross-selling
Lecture 52 Hotel package pricing
Section 9: The Top Cash flow Challenges In The hotel Industry And How To Overcome Them
Lecture 53 Poor cash flow and overhead management
Lecture 54 Failing to change the services that client do not like
Lecture 55 Return on investment project
Lecture 56 Workforce productivity
Lecture 57 Failing to take all the opportunities to boost revenue
Section 10: Conclusion
Lecture 58 Hotel finance questions
Customers, hoteliers, consultant, travel agencies, governments, tourism associations, tourism agencies, managers, directors, employees, students hospitality industry etc.