Budgeting within the Hotel Industry – Process & Application

Budgeting within the Hotel Industry – Process & Application

  • Date of Seminar: 12,13 and 14 December 2018
    From 16:00 till 19:00
  • Duration: 9 hours spread over 3 days
  • Location : West Hall, Beirut Symposium Executive Centre, Wardieh Street, Sin el-Fil, Beirut, Lebanon
  • Instructor: George Assilian

In this seminar, participants will learn how to work with, develop and present Hotel Industry related budgets aligned with business strategic goals. Working in groups, participants will understand how to gather information needed to construct and analyze budgets within the Hotel Industry.

Price : $300

  • Seminar Objectives

    Budgeting is one of the most powerful planning & control tools used by current day management within the Hotel Industry to successfully pursue business goals and create value within your organization. Budgets direct a business towards the desired performance. Furthermore, effective budgets not only improve business performance, but also boost employee morale. Therefore, effective budgeting will vastly improve performance, operational results & cash flow position within an organization.

  • Outline

    This seminar reviews in a practical way, the budgetary process within the Hotel Industry, whereby the participants comprehend & understand the following topics:

    • a) Overview of the planning and budgeting process;
    • b) Understanding the definition, purpose and components of a budget;
    • c) How to determine the source of budget numbers and fundamentals of budgets within the Hotel Industry, with special emphasis on Profit Centers (Rooms, F & B and other departments), Cost Centers (ie housekeeping) and Service Centers;
    • d) The various types of budgets used in the Hotel Industry;
    • e) The practical tools used in preparation of the operating budget, cash flow budget & balance sheet budget supported by case studies. The seminar also emphasizes & explains the unique format & composition of the operating budgets used by the Hotel Industry;
    • f) Performing a variance analysis and identifying potential sources and causes of variances;
    • g) Knowing exactly which variances to address in order to plan for next year's budget;
  • Target Audience

    Managers and any employees, with budget responsibilities, within the Hotel Industry, who are interested in developing or improving their budget planning skills, specifically:
    • Business owners & managers;
    • Chief Financial Officers;
    • Financial Controllers;
    • Management & cost accountants;

  • Delivery Method

    The seminar features a series of lectures supported by discussion sessions, video presentation and case studies in key areas.

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George has over 30 years of professional teaching and training experience, during which he has contributed to the development of the business education, through developing training centers, whereby he holds seminars on various accounting, auditing, finance and management related topics for executives and business managers. He has been successful in ensuring that business community at large and young generations benefit from his vast experiences & the world‐wide best practicesRead More....