Hospitality Finance

The hospitality student will be introduced to the concept and importance of controlling the primary costs of food, beverage, hotel rooms and labour. The student will learn the various techniques, procedures, and calculations used in the hospitality industry to evaluate, monitor and maintain appropriate control policies and procedures through the various functions of purchasing, receiving, storing, issuing, and production and portioning. The interpretation of financial statements will enable the student to gain valuable insight into the operational decision making process in the hospitality sector. An introduction to the operational budgeting process will also facilitate the student to gain valuable understanding of the importance of profitability in the hospitality industry.