1. Financial Planning, Budgeting, and Revenue Management
- Prepare annual budgets, forecasts, and business plans; monitor departmental budgets and expenses.
- Analyze variances between actual and budgeted results.
- Monitor room revenue, food and beverage revenue, and other income streams.
- Analyze occupancy rates, Average Daily Rate (ADR), and Revenue per Available Room (RevPAR).
- Work closely with sales and revenue management teams to maximize profitability.
2. Financial Reporting
- Prepare daily, weekly, monthly, and annual financial reports including profit and loss statements, balance sheets, and cash flow reports.
- Present financial performance reports to hotel management and owners.
3. Cash Flow, Treasury, and Accounts Management
- Manage hotel cash flow, working capital, and bank accounts.
- Supervise Accounts Payable (AP) and Accounts Receivable (AR); ensure timely collection of guest, corporate, and travel agent payments.
- Review payroll processes and ensure accurate processing of salaries, benefits, and statutory payments.
4. Cost Control and Asset Management
- Control operating costs across all departments and identify cost-saving opportunities.
- Review purchasing activities and inventory usage.
- Oversee inventory controls and monitor fixed assets and depreciation records.
5. Internal Controls, Compliance, and Audit
- Establish and maintain financial policies and procedures ensuring compliance with accounting standards, tax regulations, and company policies.
- Safeguard hotel assets and prevent fraud.
- Coordinate internal and external audits; implement audit recommendations and corrective actions.
6. Team Leadership and Development
- Lead and supervise the finance and accounting department.
- Train, develop, and evaluate finance staff; provide coaching and performance feedback.
7. Strategic Financial Analysis
- Provide financial analysis for hotel projects, investments, and operational improvements.
- Support management decision-making through financial insights and business opportunity evaluation.