Exploring the budgetary operations of a hotel

Type :

Term papers

Pages :

21 pages

Format :

.doc

Published date :

08/25/2009

Category :

Economics & finance

Sub category :

Finance

Oboulo.com selection criteria

$ 19.95 Add to cart

Summary :

Introduction
International chain operations
Levels of service
Classification of hotels
1. Categorization by location
2. Categorization by number of rooms
3. Categorization by type of plan
4. Categorization by length of guest stay
5. Categorization based on the facilities provided
The sheraton corporation
1. A unique opportunity for developers
Front office
1. Organization of the front office
2. Front office manger
3. Reservation department
4. Modes of reservation requests
5. Reception department
6. Registers and forms maintained
7. Functions of reception department
8. Work performed by front office assistants
9. Departments the front office coordinates with
Accounts
1. Front office cashier
2. Night auditor
3. City ledger
Room service
1. Arrivals and departures
2. VIP procedures
3. Engineering
4. Handling enquiries
5. Repeat business
Budgeting
1. Budget
2. A Budget is a plan
3. Budgeting
4. Objectives of budgetary control
5. Essentials of effective budgeting and budgetary control
6. Setting up of a budget committee
7. Budgeting for operations
8. Forecasting room revenue
9. Refining budget plans
Daily operations report
Occupancy ratios
1. Revenue per available room
2. Average rate per guest
3. Room revenue analysis
Hotel income statement
1. Rooms division income statement
2. Rooms division budget reports
3. Operating ratios
4. Ratio standards
Key terms
Conclusion

Abstract

World War II marked a milestone in the explosive use of service industry. There has been an impressive increase in personal spending in the last few decades. Individuals are spending a major chunk of their income on travel, restaurants, better quality health, education services, and leisure services, to improve the quality of their lives. This, in fact, reflects a more dynamic and fast moving environment.
The tourism industry is a collection of diverse products and services sold by highly fragmented industry sectors through a complex distribution chain. Besides lodging operations, tourism is generally said to include transportation services (airlines, rail, motor car, bus, etc), sightseeing and other services, to mention a few.

Tourism is a part of the "service revolution" that is dramatically changing the local national, regional, and global economy. It has been the world's most consistently growing industry over the past 30 years. Governments in many countries are playing a stronger role in encouraging both domestic and international tourism as a means of job creation and economic diversification, income redistribution within national boundaries, and a source of foreign exchange.