Hotel Financial Management: Budgeting and Forecasting

Hotel Budgeting and Forecasting

Explore the fundamental principles of hotel budgeting and forecasting in this beginner-level online course. Designed for a general audience with a global reach, this course delves into the core concepts and processes of financial planning within the

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Course curriculum

1. Welcome to the Course: Course Overview
2. Segment 01: Introduction to the Course and Instructor
3. Segment 02: Why Budgeting Matters in Hospitality
4. Segment 03: Key Budgeting Terminology
5. Segment 04: Budgeting in the Hospitality Industry
6. Segment 05: Practical Application Creating a Budgeting Framework
7. Segment 06: Additional resources : Understanding the basics of hotel budgeting
1. Segment 07: The Role of Forecasting in Hotel Management
2. Segment 08: Data Sources for Hotel Forecasting
3. Segment 09: Forecasting Models and Tools
4. Segment 10: Hands-On Forecasting- Data Analysis and Trend Identification
5. Segment 11: Additional resources : Fundamentals of forecasting in the hotel industry
1. Segment 12: Revenue Projections
2. Segment 13: Expense Planning
3. Segment 14: Budgeting for Different Departments
4. Segment 15: Building a Comprehensive Hotel Budget
5. Segment 16: Additional resources: Creating a hotel budget
1. Segment 17: Forecasting Methods
2. Segment 18: Evaluating Forecast Accuracy
3. Segment 19: Adjusting Forecasts
4. Segment 20: Additional resources : Forecasting techniques and accuracy
5. Segment 21: Hands-On-Learning: Building a Hotel Budget and Forecasting Plan
6. Segment 22: Forecasting Techniques and Accuracy
1. Segment 23: Key Financial Metrics
2. Segment 24: Interpretation of Metrics
3. Segment 25: Benchmarks and Industry Standards
4. Segment 26: Practical Exercise Analyzing Financial Reports
5. Segment 27: Additional resources : Financial metrics for hotel performance
1. Segment 28: Understanding Variance
2. Segment 29: Conducting Variance Analysis
3. Segment 30: Decision-Making Based on Variance
4. Segment 31: Case Study Using Variance Analysis for Improvement
5. Segment 32: Additional resources : Variance analysis and decision-making
1. Segment 33: Root Cause Analysis
2. Segment 34: SWOT Analysis for Hotels
3. Segment 35: Guest Feedback and Performance Improvement
4. Segment 36: Creating an Improvement Plan
5. Segment 37: Additional resources : Identifying improvement areas
1. Segment 38: Strategic Planning
2. Segment 39: Change Management in Hotel Operations
3. Segment 40: Measuring the Impact of Improvements
4. Segment 41: Case Study Successful Implementation of Improvements
5. Segment 42: Additional resources : Implementing performance improvements
6. Segment 43: Hands-on-Learning: Forecasting Demand and Planning Revenue in Hospitality
7. Segment 44: Implementing Performance Improvements
1. Segment 44: Technology Advancements
2. Segment 45: Sustainable Practices
3. Segment 46: Data Analytics and Machine Learning
4. Segment 47: Case Study- Embracing Technological Advancements
5. Segment 48: Additional resources : Current trends in hotel budgeting and forecasting
1. Segment 49: Dynamic Pricing Strategies
2. Segment 50: Personalization and Customer Experience
3. Segment 51: Distribution Channel Management
4. Segment 52: Hands-On: Developing a Revenue Management Strategy
5. Segment 53: Additional resources : Innovations in revenue management
1. Segment 54: Sustainable Budgeting Practices
2. Segment 55: Green Initiatives and Cost Reduction
3. Segment 56: Measuring Environmental Impact
4. Segment 57: Case Study Implementing Sustainable Practices
5. Segment 58: Additional resources : Sustainable budgeting and forecasting
1. Segment 59: Strategic Planning in Hotel Management
2. Segment 60: Scenario Analysis and Contingency Planning
3. Segment 61: Risk Management
4. Segment 62: Additional resources : Strategic decision-making for hotel managers
5. Segment 63: Hands-On Learning: Evaluating Hotel Investment Opportunities
6. Segment 64: Strategic Decision-Making for Hotel Managers
1. Segment 65: Advanced Data Analytics
2. Segment 66: Machine Learning in Forecasting
3. Segment 67: Big Data and Predictive Analytics
4. Segment 68: Real-time Forecasting
5. Segment 69: Additional resources : Advanced forecasting techniques
1. Segment 70: Zero-Based Budgeting Revisited
2. Segment 71: Activity-Based Budgeting
3. Segment 72: Rolling Budgets
4. Segment 73: Beyond Budgeting
5. Segment 74: Additional resources : Budget optimization strategies
1. Segment 75: Balanced Scorecard in Hospitality
2. Segment 76: Dashboard Reporting
3. Segment 77: Key Metrics for Revenue Management
4. Segment 78: Strategic Decision Support Systems (DSS)
5. Segment 79: Additional resources : Performance metrics and decision support
1. Segment 80: Corporate Social Responsibility (CSR) in Hospitality
2. Segment 81: Green Budgeting Practices_
3. Segment 82: Reporting and Transparency
4. Segment 83: Case Study Successful CSR Integration
5. Segment 84: Additional resources : Sustainable budgeting and CSR
6. Segment 85: Hands-On Learning: Evaluating and Implementing Automation in Hospitality Operations
7. Segment 86: Sustainable Budgeting and CSR
8. Segment 87: Conclusion

About this course

Free
89 lessons
5 hours of video content

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Hotel Budgeting and Forecasting

Course curriculum

Module 1.1: Understanding the Basics of Hotel Budgeting

Module 1.2: Fundamentals of Forecasting in the Hotel Industry

Module 1.3: Creating a Hotel Budget

Module 1.4: Forecasting Techniques and Accuracy

Module 2.1: Financial Metrics for Hotel Performance

Module 2.2: Variance Analysis and Decision-Making

Module 2.3: Identifying Improvement Areas

Module 2.4: Implementing Performance Improvements

Module 3.1: Current Trends in Hotel Budgeting and Forecasting

Module 3.2: Innovations in Revenue Management

Module 3.3: Sustainable Budgeting and Forecasting

Module 3.4: Strategic Decision-Making for Hotel Managers

Module 4.1: Advanced Hotel Budgeting and Forecasting Strategies

Module 4.2: Budget Optimization Strategies

Module 4.3: Performance Metrics and Decision Support

Module 4.4: Sustainable Budgeting and CSR

About this course

Discover your potential, starting today