Budgeting in the Hotel Sector
Workshop for developing an operative budget on a monthly basis hotels and restaurants
Set realistic targets! Other industries and chain-affiliated (branded) hotels provide a good example: In the era of Basel II it becomes increasingly important for family-run hotels and restaurants to illustrate the economic objectives in form of a budget. A budget not only motivates to reach the targets but, it also enables you to prepare a target-performance comparison on a monthly basis. With a target-oriented budget you can identify potentials in order to optimize revenues and reduce costs.
Your future work with the preparation of a budget for your company will become much easier thanks to this seminar. You will receive a detailed guidance in order to set realistic, reachable targets for you and your employees.
- You see possibilities of successfully implementating budgets in hotels and restaurants
- You receive hints and benchmarks for the preparation of your budget
- You learn step-by-step to develop a budget using simple tools and forms
- You discuss the connection between monthly financial accounting and budgeting and you learn how to combine and compare both
- You get to know the basis of STAHR – the Austrian standard of accounting for hotel and restaurants in combination, with benchmarkings for each department (rooms, F&B, marketing, administration, maintenance...)
- You receive a CD with ready-to-use Controlling Service budget tools and forms (effective budget-tools for immediate use in your business)
Highlights of the seminar
- Answers to questions like: “How much is my net room revenue?”, “What´s my lowest price limit?” “Which price should I consider for breakfast?” “How much are the acceptable staff costs in each department?” etc.
- STAHR – the new Austrian standard of accounting for hotels and restaurants
- Benchmarks for single cost positions
- Examples for a professional monthly target performance comparison (comparison of financial accounting and budget)
- Presentation of the individual Controlling Service budget tools on a CD – a practicable and easy-to-use tool for immediate implementation in your business