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Professional Hotel Management Finances

Business

Rating4.3
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Professional Hotel Management Finances, available at $19.99, has an average rating of 4.29, with 58 lectures, based on 7 reviews, and has 23 subscribers.

You will learn about 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 This course is ideal for individuals who are Customers, hoteliers, consultant, travel agencies, governments, tourism associations, tourism agencies, managers, directors, employees, students hospitality industry etc. It is particularly useful for Customers, hoteliers, consultant, travel agencies, governments, tourism associations, tourism agencies, managers, directors, employees, students hospitality industry etc.

Enroll now: Professional Hotel Management Finances

Summary

Title: Professional Hotel Management Finances

Price: $19.99

Average Rating: 4.29

Number of Lectures: 58

Number of Published Lectures: 58

Number of Curriculum Items: 58

Number of Published Curriculum Objects: 58

Original Price: $74.99

Quality Status: approved

Status: Live

What You Will 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

Who Should Attend

  • Customers, hoteliers, consultant, travel agencies, governments, tourism associations, tourism agencies, managers, directors, employees, students hospitality industry etc.

Target Audiences

  • Customers, hoteliers, consultant, travel agencies, governments, tourism associations, tourism agencies, managers, directors, employees, students hospitality industry etc.

   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.

Course Curriculum

Chapter 1: Introduction

Lecture 1: Introduction

Lecture 2: Revenue management

Lecture 3: Revenue management process

Chapter 2: Essential Hotel Key Performance Indicators To Track Your Performance

Lecture 1: Hotel occupancy rate

Lecture 2: Average daily rate

Lecture 3: Revenue per available room (Revpar)

Lecture 4: Earnings before interest, taxes, depreciation and amortization

Lecture 5: Total revenue and total bookings

Lecture 6: Average length of stay

Chapter 3: Key Financial Ratios For The Hospitality Industry

Lecture 1: Introduction

Lecture 2: Solvency ratios

Lecture 3: Operating ratios

Lecture 4: Profitability ratios

Chapter 4: The Ultimate Guide To Hotel Finance And Funding Sources

Lecture 1: Hotel Loans

Lecture 2: Traditional hotel investment

Lecture 3: Hotel funding from family office

Lecture 4: Locally source investment

Lecture 5: Crowdfunding hotel investment

Lecture 6: Government grant for hotels

Chapter 5: Smart Cost Saving Ideas For Hotels

Lecture 1: Analyse your expenses in detail

Lecture 2: Cross-train staff for optimum resource utilization

Lecture 3: Use technology to cut cost

Lecture 4: Deploy self-check-in kiosk

Lecture 5: Lower electricity cost by going green

Lecture 6: Optimize your hotel marketing

Lecture 7: Practice preventive maintenance for appliances

Lecture 8: Use your hotels less utilized spaces

Lecture 9: Negotiate with vendors

Chapter 6: Guide On How To Make A Budget Plan For A Hotel

Lecture 1: What is an annual budget

Lecture 2: Importance of strategic budgeting for your hotel

Lecture 3: How is the budget calculated in the hotel industry

Lecture 4: Types of budget for hotels

Lecture 5: Good practices of budgeting in a hospitality industry

Lecture 6: Key steps in preparing annual budget for hospitality business

Chapter 7: Top Hotel Revenue Management Strategies To Adopt

Lecture 1: Introduction

Lecture 2: Budget and forecast

Lecture 3: Load rates and inventory

Lecture 4: Perform demand forecasting

Lecture 5: Adopt a uniform distribution method

Lecture 6: Make a responsive hotel website

Lecture 7: Use meta search to your advantage

Lecture 8: Try multiple pricing strategies

Lecture 9: Adopt the latest technology solutions

Lecture 10: Redesign your loyalty program

Chapter 8: Hotel Pricing Strategies For Effective Revenue Management

Lecture 1: Demand-based pricing

Lecture 2: Rate parity pricing

Lecture 3: Optimized rate level utilization

Lecture 4: Day of week pricing

Lecture 5: Penetration pricing

Lecture 6: Length of stay pricing

Lecture 7: Upselling and cross-selling

Lecture 8: Hotel package pricing

Chapter 9: The Top Cash flow Challenges In The hotel Industry And How To Overcome Them

Lecture 1: Poor cash flow and overhead management

Lecture 2: Failing to change the services that client do not like

Lecture 3: Return on investment project

Lecture 4: Workforce productivity

Lecture 5: Failing to take all the opportunities to boost revenue

Chapter 10: Conclusion

Lecture 1: Hotel finance questions

Instructors

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