The "Foundations of Hotel Budgeting and Forecasting" course is designed to equip learners with the essential skills and knowledge needed to excel in the dynamic hospitality industry. As the industry continues to evolve, effective budgeting and forecasting have become imperative for hotel management. This course offers a comprehensive understanding of fundamental concepts, practices, and tools in hotel budgeting and forecasting, making it an ideal choice for various target learners.
Foundations of Hotel Budgeting and Forecasting
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Beginner level
Recommended experience
9 hours to complete
3 weeks at 3 hours a week
Flexible schedule
Learn at your own pace
What you'll learn
Create a hotel budget and forecast using industry-standard methods. (Higher-Order Thinking Skills - HOTS)
Evaluate the financial performance of a hotel and identify areas for improvement. (HOTS)
Understand the current trends and future outlook of hotel budgeting and forecasting.
Develop actionable strategies based on budgeting and forecasting data.
Skills you'll gain
Details to know
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Assessments
4 assignments
Taught in English
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There are 5 modules in this course
This module establishes the fundamental concepts of hotel budgeting and forecasting. You will grasp the importance of budgeting, learn essential terminology, and understand the role of forecasting in effective decision-making.
What's included
16 videos5 readings1 assignment3 discussion prompts
In this module, you will delve deeper into performance analysis and improvement strategies. You'll explore financial metrics, industry benchmarks, and learn how to conduct variance analysis effectively.
What's included
16 videos4 readings1 assignment3 discussion prompts
This module examines modern trends and strategies impacting hotel budgeting and forecasting. Topics include technology advancements, sustainability practices, and innovations in revenue management.
What's included
15 videos4 readings1 assignment3 discussion prompts
This advanced module explores cutting-edge techniques in hotel budgeting and forecasting. Topics include advanced data analytics, machine learning, budget optimization, performance metrics, and sustainable budgeting with a focus on corporate social responsibility (CSR).
What's included
16 videos4 readings1 assignment3 discussion prompts
In this concluding module, learners will recap key course concepts and takeaways. The importance of continuous learning in the dynamic hospitality industry will be emphasized. The module concludes with the final assessment to evaluate learners' understanding of the course material.
What's included
1 video
Instructor
Offered by
Recommended if you're interested in Leadership and Management
Starweaver
ESSEC Business School
ESSEC Business School
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Frequently asked questions
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