Financial Management in Hospitality
- Description
- Curriculum
Financial Management in Hospitality Course Overview
Financial Management in Hospitality is a comprehensive course designed to provide participants with the knowledge and skills necessary to effectively manage the financial aspects of businesses in the hospitality industry. This course provides students with a comprehensive understanding of the financial management principles and practices applied in the hospitality industry. The course is designed for individuals with careers in hotel management, restaurant management, event planning, and other hospitality-related fields. During the course of training, students will learn how to analyze financial statements, prepare budgets, and make informed financial decisions. Through hands-on exercises, case studies, and real-world examples, participants would learn to make informed financial decisions, optimize financial performance, and contribute to the long-term success of hospitality businesses.
Who Should Attend
- Individuals pursuing careers in hotel management, restaurant management, event planning, and other hospitality-related fields
- Finance professionals in hospitality-related fields
- Managers and senior-level executives in the hospitality industry
Introduction to Financial Management in Hospitality
- What is financial management?
- The role of the financial manager in the hospitality industry
- Financial statements and analysis
Financial Statements and Reporting
- Income Statements, Balance Sheets, and Cash Flow Statements
- Interpreting Financial Statements
- Ratio Analysis in the Hospitality Sector
Budgeting and Forecasting
- Creating Operational and Capital Budgets
- Revenue and Expense Forecasting
- Variance Analysis and Performance Monitoring
Cost Control and Pricing Strategies
- Cost Classification in Hospitality
- Cost Control Techniques
- Pricing Strategies and Menu Engineering
Capital Investment and Financing
- Capital Budgeting Concepts and Principles
- Investment Appraisal Techniques
- Lease vs. Buy Decisions
- Risk Analysis
Revenue and Yield Management
- Maximizing Revenue through Pricing Strategies
- Understanding the Concept of Yield Management
- Utilizing Technology in Revenue Management
Key Performance Indicators (KPIs) in Hospitality
- Identifying and Calculating Relevant KPIs
- Analyzing KPI Data to Improve Operations
- Benchmarking and Industry Standards
Adeola Badmus
I am Adeola, my 15-year professional career has spanned several roles, organizations, and sectors. I served as a project manager in IntroIT Consulting, Head of Institute / Chief Operating Officer for the Institute for Advance e-Studies, I currently hold the position as the senior project consultant & marketing director for Piston & Fusion. My qualification includes MSc. In Marketing, BSc. In Business Administration, Digital Marketing, PMP, PRINCE 2, NEBOSH, Level 3 Award in Education & Training. I have been privileged to attend some of the best institutions globally, the University of Lagos, Lagos Business School, and the University of Liverpool (UK). I am a member of AMA, PMI & IOSH. I have trained over 4000+ professionals in marketing, branding, project management, data analytics, and other business-related programs.
Participants enrolling for this programme will be required to have minimum of 3 years’ professional experience. Participants who meet the programme requirement should pay the course fee and complete the enrollment form 2 weeks before the programme kick off date.
Prospective applicants who do not meet the programme requirement but wants to join the programme should should follow the process detailed below.
Application Process
- Start a chat with the online course adviser or complete the application form
- Application will be reviewed by programme committee
- Application acceptance will be communicated by programme committee
- Pay the programme fee after receiving acceptance from the committee
- Check your mail for programme schedule and payment confirmation
Participant’s Experience
What is included in the Course Programme Pack
- Practice Manual & Textbook
- Participants workbook & Exercises
- Templates for professional practice
- Local & international case studies
- Recognized Certification of Completion
- Branded Personalized programme pack & stationaries
- Breakfast & Lunch
- 3 Star Accommodation (Optional – Available on Request)
Kindly note all training materials for the Virtual Online classes will be in electronic formats (PDF & MS Word)
Financial Management in Hospitality Course Fees & Dates for Upcoming Classroom & Virtual Online In 2024
Piston and Fusion offer the Course as Classroom in Lagos and Virtual Online Class in other states in Nigeria. See dates and fees for classroom and virtual online class.
| Financial Management Programme | |
| Course Objective: | The Programme’s focus is to help participants learn how to analyze financial statements, prepare budgets, and make informed financial decisions |
| Classroom | |
| Weekday Date: | Contact Us |
| Weekend Date: | Contact Us |
| Location: | 122a Obadina Street, Omole Phase 1 Ikeja Lagos |
| Virtual Class | Fee: ₦100,000 | $160 |
| Weekday Date: | Contact Us |
| Weekend Date: | Contact Us |
| Location: | Microsoft Teams | Zoom |
Anthony Ani
“Relocating to Canada was the most challenging decision I and my family had to make, the uncertainties of a new country. I was determined that I won't risk everything to start earning minimum wage. I took my PMP training with Piston & Fusion, earned my certification at the first attempt, and to be honest it has elevated my career trajectory”
Gabriel Eluke (Human Resources/Admin) | Netcom Africa Limited
"I became a professional Human Resource personnel after my training with piston and Fusion. It brought a great turn around to my career and remains one of the best decisions I ever took. "
Okhueleigbe Usifo (Construction safety officer/ OFA) | Beedie Construction Canada
"The firm I worked with in Abuja had not paid salaries for 5 months, I decided to leave the country, and left for Dubai. I applied for a safety officer vacancy, out of 15 applicants I was the only person that was selected with HSE level 1, 2 and 3 certificate. I thought getting a job here would be difficult but my certificate helped me."
Uju Edinbus | Perform Group (Goal.com)
"I wanted to change my job, I needed something to give me the advantage to switch jobs. My friend advised I take a digital marketing course, after the training I started prospecting jobs, I got a call for my first interview, at the interview I was grilled extensively on my credentials, thanks to my digital marketing knowledge I got what I will describe as my dream job."
Mojisola Mosuro PMP | ExxonMobil
“As a fresh graduate I knew getting a good job would be a challenge. I researched online for a professional course to boost my CV, and I found P&F Project Management course. I completed the course. I have since changed jobs 3 times. Project Management. was the best Decision I made.”
Why Piston & Fusion Is Ranked Amongst the Best Business Institute In Nigeria
- We have trained 6000+ professionals
- We have over 10 years industry experience
- Our facilitators are experienced and certified
- We offer post training career advice and support
People who enrolled for this course, also enrolled for the following courses
| Hospitality Management Studies |
Food Safety and Hygiene in the Catering Industry |
| Logistics and Supply Chain Management | Fleet Management |
All You Need to Know About Financial Management in Hospitality Course
What Are The Key Benefits of Taking This Course?
The course equips you with the knowledge and skills to effectively manage financial challenges within the hospitality industry. You will learn to create financial statements, budgets, and forecasts, implement cost control strategies, optimize pricing, and make informed financial decisions to enhance the profitability and sustainability of hospitality businesses.
Do I Need Any Prior Financial Knowledge To Enroll In This Course?
Yes, this course requires that you have some form of background in finance before undergoing training. The great thing about taking this course is it is designed to accommodate students with varying levels of financial knowledge. It starts with the fundamentals and progressively covers more advanced topics.
Will This Course Help Me if I Want To Start My Own Hospitality Business?
Absolutely. This course will provide you with the financial knowledge and tools to make informed decisions and develop a solid financial plan for your hospitality business.
Course details
Level
Beginner
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