This new edition of Profit Planning is ideal for hotel, restaurant and licensed house managers as it focuses on profit planning, the major area of finance which the general manager needs to get to grips with.
The practical aspects of day-to-day profit planning are emphasized, which means that the reader can understand the approach with the minimum of theory and technical jargon. The examples and illustrations used can easily be translated into all aspects of the hospitality industry, so this book has a wide appeal.
Unit managers now have high levels of finance responsibility at an early stage in their career. This reflects the growth in strongly branded and market oriented chains of pubs and restaurants which need to achieve swift returns on their investments. The financial management skills expected of unit managers are therefore growing in sophistication and this new edition takes full account of this.
Key features of hotel and catering operations; Review of hospitality financial statements; Understanding results; Monitoring progress; Planning for profit; Pricing hotel and restaurant services; Profit improvement; Budgets and forecasting; Budgets for planning and control; Using computer spreadsheets; Getting the information we need; Capital expenditure decisions; Present value table; Index.