Contents: Preface. 1. Introduction to hotel industry. 2. Introduction to numbers, accounting and financial analysis. 3. Foundations of financial analysis. 4. Accounting department organization and operations. 5. The profit and loss (P&L) statement. 6. The balance sheet (A&L) and statement of cash flow. 7. Hotel management reports. 8. Revenue management. 9. Comparison reports and financial analysis. 10. Forecasting: a very important management tool. 11. Budgets. 12. Corporate annual reports. 13. Personal financial literacy. Glossary. Bibliography. Index.
The hotel industry alone is a multi-billion dollar and growing opportunities. The hotel industry is diverse enough for people to work in different areas of interest and still be employed within the hotel industry. This trends is not just in India, but also globally, modern hotels provide refined services to their guests. The customers or guests are always right. This principles necessitated application of management principle sin the hotel industry and the hotel professionals realized the instrumentality of marketing principles in managing the hotel industry. (jacket)