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  1. Courses
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  3. Hotel Budgeting and Forecasting

Hotel Budgeting and Forecasting

Explore the fundamental principles of hotel budgeting and forecasting in this beginner-level online course. Designed for a general audience with a global reach, this course delves into the core concepts and processes of financial planning within the

Manish Gupta
Manish Gupta
Business | core | 4 hours |   Published: Dec 2023
In partnership with:  Coursera

    Discussions

Overview

1KSTUDENTS*
97%RECOMMEND*

This course includes:

  • 4 hours of on-demand video  
  • Certificate of completion  
  • Direct access/chat with the instructor 
  • 100% self-paced online 

Explore the fundamental principles of hotel budgeting and forecasting in this beginner-level online course. Designed for a general audience with a global reach, this course delves into the core concepts and processes of financial planning within the hospitality industry. From understanding key terminologies to examining current trends and future developments, this course equips you with essential knowledge to navigate the world of hotel budgeting and forecasting.

Skills You Will Gain

Business Process Automation
Financial Planning
Hotel Budgeting
Hotel Management
Market Trends
Marketing

Learning Outcomes (At the end of this program you will be able to)

  • Understand the importance of financial planning in the hospitality industry and its impact on overall business success.
  • Define key concepts and terminologies related to hotel budgeting and forecasting.
  • Identify core business processes, systems, tools, and applications commonly used in hotel financial management.
  • Analyze current and future trends in hotel budgeting and forecasting and their implications for the industry.

Prerequisites

Basic understanding of accounting principles recommended.

Who Should Attend

This course is tailored for individuals at a beginner level who seek to grasp the basics of hotel budgeting and forecasting. It’s ideal for aspiring hospitality professionals, hotel staff, and anyone interested in understanding the financial aspects of the hospitality business.

Curriculum

Instructors

Frequently Asked Questions

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*Where courses have been offered multiple times, the “# Students” includes all students who have enrolled. The “%Recommended” shown is also based on this data.
1Module 1.1: Understanding the Basics of Hotel Budgeting
2Module 1.2: Fundamentals of Forecasting in the Hotel Industry
3Module 1.3: Creating a Hotel Budget
4Module 1.4: Forecasting Techniques and Accuracy
5Module 2.1: Financial Metrics for Hotel Performance
6Module 2.2: Variance Analysis and Decision-Making
7Module 2.3: Identifying Improvement Areas
8Module 2.4: Implementing Performance Improvements
9Module 3.1: Current Trends in Hotel Budgeting and Forecasting
10Module 3.2 - Innovations in Revenue Management
11Module 3.3: Sustainable Budgeting and Forecasting
12Module 3.4: Strategic Decision-Making for Hotel Managers
13Module 4.1: Advanced Hotel Budgeting and Forecasting Strategies
14Module 4.2 - Budget Optimization Strategies
15Module 4.3 - Performance Metrics and Decision Support
16Module 4.4 - Sustainable Budgeting and CSR

Segment 06 - The Role of Forecasting in Hotel Management

Segment 07 - Data Sources for Hotel Forecasting

Segment 08 - Forecasting Models and Tools

Segment 09 - Hands-On Forecasting- Data Analysis and Trend Identification

Manish Gupta

Manish Gupta

Manish is a seasoned finance and business management professional with over 15 years of experience in the hospitality industry. As the Chief Financial Officer at Htoo Hospitality, he oversees operations across six destinations and 15 hotels, managing an inventory of over 800 rooms and a workforce of 1,500+. In addition to his CFO responsibilities, he also serves as the acting CEO and head of business, leading strategic initiatives, financial planning, and the post-COVID reopening of key hotels. His expertise includes implementing ERP systems, financial planning processes, and data visualization tools to optimize hotel performance and efficiency.

A passionate advocate for learning and development, Manish is the founder of eHotel Management School, an online platform offering over 30 courses in hospitality management. With a global student base of over 100,000, his mission is to empower one million professionals in finance, business management, and technology. He has also authored a comprehensive guide on budgeting and forecasting principles for hospitality and collaborates with platforms like Coursera and Alison as an instructor. Through his work, he continues to drive innovation, lean management, and knowledge-sharing in the hospitality sector, equipping professionals with the skills needed to thrive in a dynamic industry.

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Segment 26 - Root Cause Analysis

Segment 27 - SWOT Analysis for Hotels

Segment 28 - Guest Feedback and Performance Improvement

Segment 29 - Creating an Improvement Plan

Segment 42 - Sustainable Budgeting Practices

Segment 43 - Green Initiatives and Cost Reduction

Segment 44 - Measuring Environmental Impact

Segment 45 - Case Study Implementing Sustainable Practices

Segment 10 - Revenue Projections

Segment 11 - Expense Planning

Segment 12 - Budgeting for Different Departments

Segment 13 - Building a Comprehensive Hotel Budget

Segment 01 - Introduction to the Course and Instructor

Segment 02 - Why Budgeting Matters in Hospitality

Segment 03 - Key Budgeting Terminology

Segment 04 - Budgeting in the Hospitality Industry

Segment 05 - Practical Application Creating a Budgeting Framework

Segment 14 - Forecasting Methods

Segment 15 - Evaluating Forecast Accuracy

Segment 16 - Adjusting Forecasts

Segment 21 - Understanding Variance

Segment 22 - Conducting Variance Analysis

Segment 24 - Decision-Making Based on Variance

Segment 25 - Case Study Using Variance Analysis for Improvement

Segment 30 - Strategic Planning

Segment 31 - Change Management in Hotel Operations

Segment 32 - Measuring the Impact of Improvements

Segment 33 - Case Study Successful Implementation of Improvements

Segment 34 - Technology Advancements

Segment 35 - Sustainable Practices

Segment 36 - Data Analytics and Machine Learning

Segment 37 - Case Study- Embracing Technological Advancements

Segment 53 - Zero-Based Budgeting Revisited

Segment 54 - Activity-Based Budgeting

Segment 55 - Rolling Budgets

Segment 56 - Beyond Budgeting

Segment 38 - Dynamic Pricing Strategies

Segment 39 - Personalization and Customer Experience

Segment 40 - Distribution Channel Management

Segment 41 - Hands-On: Developing a Revenue Management Strategy

Segment 17 - Key Financial Metrics

Segment 18 - Interpretation of Metrics

Segment 19 - Benchmarks and Industry Standards

Segment 20 - Practical Exercise Analyzing Financial Reports

Segment 49 - Advanced Data Analytics

Segment 50 - Machine Learning in Forecasting

Segment 51 - Big Data and Predictive Analytics

Segment 52 - Real-time Forecasting

Segment 46 - Strategic Planning in Hotel Management

Segment 47 - Scenario Analysis and Contingency Planning

Segment 48 - Risk Management

Segment 61 - Corporate Social Responsibility (CSR) in Hospitality

Segment 62 - Green Budgeting Practices_

Segment 63 - Reporting and Transparency

Segment 64 - Case Study Successful CSR Integration

Segment 65 - Conclusion

Segment 57 - Balanced Scorecard in Hospitality

Segment 58 - Dashboard Reporting

Segment 59 - Key Metrics for Revenue Management

Segment 60 - Strategic Decision Support Systems (DSS)