Financial Management for Housekeepers
The overall objective of this workshop is to demystify every-day Housekeeping related operational finance and to develop participants’ confidence and professional know-how when dealing with the financial management of their department. The workshop explains in simple and clear language the different budgets a Housekeeper deals with, the structure, reading and analysis of a P&L, and offers many tips and tools on how to save and control departmental costs.
How does it work?
By using simple explanations and current examples, participants can understand all aspects of finance in Housekeeping operations.
Who is it for?
Those responsible for the financial success of the Housekeeping Department, this includes up and coming Assistants and Rooms Division Managers with a front office background.
What will you learn?
The course contents include:
- Understand the definition of financial terms
- Understand different types of a Hotel budget
- Learn about classification of materials
- Understand the difference between a Capital expenditure budget vs. an Expenses budget
- Understand a P&L?s structure and components
- Understand factors impacting on Rooms? departmental profit and the hotel’s yield
- Learn how to obtain relevant information to be able to analyse the Housekeeping P&L.
- Manage monthly P&L results
- Interpret financial information and analyse variances. Know how to fix mistakes
- Take control of Housekeeping expenses by controlling the P&L
- Learn practical tools to control and monitor monthly costs
- Learn how to prepare and present next year's budgets
How long is it?This is a one day workshop.
What are the benefits?
Participants gain confidence in analysing figures and interepting their own P&L. They learn practical tools in cost saving and how to contribute towards the bottom line. Thorough explanation and group activities ensure all participants understand what questions to ask.
What can you expect?
A participant is able to understand P&L?s, budgets and is able to identify problem areas. The practical tools and skills given ensure control of costs in all areas of Housekeeping.
Enquire about datesThere are currently no dates or venues scheduled for this course. If you are interested in seeing this course held in your location please complete the enquiry form and we will get back to you shortly.