Concept:

With achievement focused and competency based learning, hospitality accounting and finance becomes  engaging and clear, even for learners who may be numero-phobic. Acting individually or in teams, learners solidify their command of statements, reports, ratios, and metrics by operating a  full service hotel property  within real-to-life market conditions and competition. They learn how to use accounting and finance to proactively target and management positive business result.  This is accounting and finance in action.

Process:

  1. Gather financial and market performance of your hotel, the competition, and the market.
  2. Use the financial data to target business opportunities.
  3. Form competitive, operating, and investment strategies.
  4. Make decisions consistent with the strategies.
  5. Review results, then refine and redo for the next month of competition.

Learning:

Mindset

  • Accounting and Finance are important foundational skills available to anyone.
  • The financial impact of strategies and daily decisions on business results.
  • The impact of valid Journal entries on the operating financial statements.
  • Using accounting and finance as a basis for objective business decisions and competitive response.

Skills

  • Statement Analysis
  • Ratio Analysis
  • Financial based decisions
  • Targeting Revenue  Priorities
  • Managing Business  Priorities
  • Competitive Response
  • Investment & value calculations
  • Financial Analysis
  • Cost Analysis
  • Internal Controls
  • Fixed Costs
  • Taxation

Knowledge

  • Summary Income Statement
  • Dept. Income Statement
  • Balance Sheet
  • Cash Flow
  • Retained Earnings
  • Financial Ratios
  • Business Analytics
  • Budget vs. Actual Variences
  • Ownership Priorities
  • Benchmarking

ANALYTICS

  • Import STR Market Data
  • Trip Advisor Type Guest Comments

 

All hotel and market information can be easily customized to your learning and choice of market place.

Decisions:

Rooms Forecasting
Channel Management
Room Pricing – Gross & Net
F&B Outlet Pricing
F&B Costs
Refurbishment
Capital Improvements
Staffing
Salaries
Training
Marketing
Advertising
Promotion
Request for Proposal
Displacement Analysis

Reports:

Revenue Performance
Segment Contribution
Channel Contribution
Perceptual Mapping: Rooms, F&B,  Facilities
Business Summary
Balanced Scorecard
Revenue Variance
Financial Ratios
Rooms Market Segment Share
Food & Beverage
Other Departments
Rentals & Other Income
Competition
Reputation Management
Staffing
Staff Competence and Turnover
Guest Comments
Trend Graphs

 

Financials:  
Summary Income Statement
Departmental Income Statement
Balance Sheet
Cash Flow Statement
Replacement Reserve

Scalable:
Full range of hotel configurations from Luxury to select service.
Gear configuration challenge for any level from student to experienced professional.

Customize:
Use your own course or company parameters.
Decisions, Reports, and financials can be selected and de-selected.
Market demand and market contention factors are configured to suit.

Languages:    Available in English, German, French, Spanish, Chinese, Arabic, Russian, Ukrainian, Arabic, and Portuguese. Other languages available upon request.

Browser Based:  No need for software installation or IT assistance
                


Compatible:       Works with all major browsers and operating systems.

Competitive:     Individuals or teams compete against each other for real results without any artificial intelligence.

Intuitive:           Clear and easy to navigate screens.

Embedded Guides:   On page pop-up help screens.

Service:             Full instructor training and award winning support included.

Contact REDGlobal

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