Budgeting and Forecasting

In this course, you will explore the vital financial strategies and practices that underpin success in the dynamic hospitality industry. In our initial segment, we'll dive into the fundamentals of budgeting and forecasting, elucidating their significance in the hospitality sector. You'll become well-versed in various budget types and essential decision-making tools. Moving forward, we'll navigate the challenges within budgeting, addressing unexpected obstacles and the pursuit of precision. We'll also discuss budgets as performance targets. In our final phase, we'll explore forecasting and financial modelling, covering different approaches and the mathematical and statistical formulas behind them. Prepare for an enlightening exploration of financial management in the captivating world of hospitality. This course equips you with the knowledge and skills needed to excel in this dynamic field.