Hotel Budgeting & Forecasting
About the program
In this program, 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.
Schedule
| 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 |
Learning Outcomes
- 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
Program Overview
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Delivered Online
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Length 5 weeks
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Effort 8 - 10 hours/week
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Language English
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Level Intermediate
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Prerequisite Hospitality experience
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Price CHF 2,200
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Certificate Certificate of Achievement
Certificate Sample
39
Lecture Videos
47
Executive Interviews
13
Interactive Exercises
29
Reading & Case Studies
Meet your instructor
Philip Bacon
Senior Lecturer
Finance
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