1.Financial Planning and Budgeting:
Develop, implement, and monitor the hotel’s annual budget in collaboration with department heads.
Provide financial guidance to support operational decision-making.
Conduct regular budget reviews and updates to ensure alignment with business objectives.
Prepare accurate and timely financial statements for the hotel, including income statements, balance sheets, and cash flow statements.
Generate and analyze financial reports for management, identifying trends and variances.
Ensure compliance with regulatory reporting requirements.
Implement and monitor cost control measures to optimize operational efficiency.
Analyze cost structures and identify opportunities for savings without compromising service quality.
Collaborate with sales and marketing teams to develop pricing strategies and promotions.
Monitor revenue streams and implement strategies to maximize profitability.
Oversee cash flow, manage working capital, and ensure adequate liquidity for daily operations.
Implement cash management strategies to support the hotel’s financial stability.
5.Audit and Compliance:
Coordinate and manage internal and external audits, ensuring compliance with accounting standards and regulatory requirements.
Implement and maintain internal controls to safeguard the hotel’s assets.
Conduct financial analysis to support investment decisions, business development, and capital projects.
Provide insights and recommendations based on financial data.
7.Team Leadership and Development:
Manage the hotel’s finance team, providing leadership, training, and development opportunities.
Foster a collaborative and efficient working environment within the finance department.
8.Strategic Financial Planning:
Work closely with hotel management to contribute to the development and execution of the hotel’s strategic plan.
Provide financial insights to support the achievement of business goals.
9.Systems and Process Improvement:
Identify opportunities for process improvement and automation within the finance function.
Implement and manage financial systems to enhance efficiency and accuracy.