In this course, you will pull together the tools of USALI accounting, using revenue and cost projections, to prepare an operating budget for a property.

Hotel decision makers use the operating budget to identify ways to control costs and improve profitability. An operating budget is a living — not static — document; you will develop skills to monitor it over time and develop best practices for interpreting what it's telling you to take appropriate corrective action. You will practice working with occupancy estimates that come from external sources in the industry, such as CBRE's widely used economic analysis reports. You will develop cost estimates, including fixed, variable, and mixed.

You are required to have completed the following courses or have equivalent experience before taking this course:

  • Examining the Uniform System of Accounts for the Lodging Industry (USALI)
  • Benchmarking Hotel Performance
  • Using Financial Statements for Decision Making
  • Applying Managerial Accounting Tools to Improve Flow Through
 

How It Works

Course Length
2 weeks

Effort
5 to 8 hours of study per week

Format
100% online, instructor-led
  • Hotel owners
  • Hotel general managers and directors
  • Hotel managers and department heads
  • Hotel employees using financial information for decision making
  • Accounting professionals seeking to move into the hotel industry
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