Enhance your knowledge of advance front office management with our comprehensive guide to planning and evaluating front office operations. Learn the basics and how it can benefit your hotel’s success.
Hubbart Formula is also known as the bottom-up approach to pricing rooms introduced by Roy Hubbart in 1940. This approach considers operating costs, desired profits and the expected number of rooms sold to determine the average rate per room. Hubbart Formula Allows...
Types of Rate Codes used in hotels Hotels always have more than one rate code category for each room type. Room rates categories generally correspond to types of rooms available to sell in the hotel ( Eg: Suite, Deluxe, Premiere, Studio, Pent house etc. ). Room Rates...
Forecasting techniques TYPES OF FORECASTING METHODS Qualitative methods: These types of forecasting methods are based on judgments, opinions, intuition, emotions, or personal experiences and are subjective in nature. They do not rely on any rigorous mathematical...
FORECASTING ROOM AVAILABILITY Forecasting room availability is forecasting the number of rooms available for sale on any future date. This type of forecasting helps manage the reservation process, guides the front office staff for an effective rooms...
Forecasting Data The process of forecasting room availability generally relies on historical occupancy data. To facilitate forecasting ,the following daily occupancy data should be collected: Number of expected room arrivals Number of expected room walk-ins ...
Front office may have several types of forecasting formats. Occupancy forecast are developed typically on monthly basis and are reviewed by food and beverage department and room division management to forecast RevenueProject expensesLabour schedule Example: A Ten Day...
Evaluating Front Office Operations A successful front office manager shall continuously evaluate the results of department activities on a daily, monthly, quarterly, and yearly basis. While evaluating, the following items and tools shall be used: Daily...
Budgeting Defination : A budget is the monetary or and quantitative expansion of business plans and policies to be pursued in the future period of time. The term budgeting is used for preparing budgets and other procedures for planning. According to I.C.W.A...
Discover the keys to mastering the budget cycle in hospitality, including preparing, approving, executing, and evaluating. Learn the process step-by-step to ensure efficient front office management.
The front office budget is a crucial aspect of hotel management. It is a long-term planning tool used by the front office management team. The budget addresses all revenue sources and expense items, and it is typically divided into annual, monthly, weekly, and daily...
FACTORS AFFECTING BUDGET PLANNING The following are the elements, which have an n, affects on the front office budget planning. 1.Accommodation: This is one of the most critical key factors operating in hotels. When all the rooms are sold, it is impossible to...
CAPITAL AND OPERATIONAL BUDGET FOR FRONT OFFICE The main objective of the cash budget is to determine the cash inflow, cash outflows and the resulting cash balance over a future period. In order to determine future cash inflows it is...
REFINING BUDGET If the actual operating figures and budgeted figures are distant from each other, then this suggests a refining or revision of our budget. revision of room demand estimated room revenue rooms direct expenses Departmental budget plans are commonly...
Master the art of forecasting room revenue with our comprehensive guide for hospitality students. Learn about various techniques, formulas, and factors influencing hotel performance.
Budgeting is a crucial aspect of hotel front office management that helps managers plan, organize, and control financial resources. However, there are also potential downsides to this approach. In this blog, we'll explore the advantages and disadvantages of budgeting...
PROPERTY MANAGEMENT SYSTEM (PMS) A generic term used to describe the application of computer hardware and software in managing the interface of various departments of a hotel. Examples of PMS: Fidelio ...
FIDELIO A Hotel Management System (HMS) Fidelio is a completely integrated system package designed to maximize the efficiency of the hotel. Fidelio is one of the world’s best selling front office systems, and it is the system of choice for Hilton International,...