Category:

Hospitality & Restaurant Courses, Finance & Administration Courses

Description
Curriculum

Financial Management in Hospitality

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

Programme Outline

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

Facilitators

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.

Enrollment Criteria

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

Enroll Now

Amount Paid

Payment Date (MM/DD/YY)

Preferred Training Location

Course of Interest

Preferred Training Batch

Plan

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.”

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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.