Professional Hotel Management Finances

Hotel KPI's to track your performance, Hotel key financial ratios, Hotel pricing strategies, Hotel budgeting guide etc.

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.