Course overview

In this online course, you will deep-dive into hotel competitive performance analysis, budgeting and business planning processes. You will learn to analyze performance using industry benchmarking tools, practice planning, budgeting and forecasting processes, and use these tools to estimate future performance and monitor variances between actual outcomes and projected ones

What you will learn

Recognize hospitality industry analytics using the STR methodology Perform competitive analysis, market analysis and segmentation analysis Use data analysis to forecast future performance for a geographic market, a hotel category, or an individual property Describe the main reasons for budgeting and long-term business planning Distinguish between the different elements of a budget and a long-term business plan at the departmental, property, and corporate level

Course details

Who is the course for?

Week 1 Planning & the planning process Planning methodologies Putting the plan together Managing the planning process Week 2 Benchmarking Metrics and benchmarking for hotels Competitor analysis and STR reports Week 3 Operations budgeting and forecasting Budget preparation Budgetary control Week 4 Cash management Cash budgeting Capital budgeting Week 5 Final assessment