Hospitality Benchmarking Certificate

Issued by Hospitality Financial and Technology Professionals

Benchmarking is an essential tool for any profitability tool chest. This course, the emphasis will be to: characterize the basics of operational benchmarking and the use of key performance indicators (KPIs), illustrate the use of KPIs and indexing in effective benchmarking, assess how benchmarking can provide insight into your hotel's performance, assemble effective competitive sets that will allow for effective analysis of both internal and external competitors.

Type Learning
Level Intermediate
Time Months
Cost Paid

Additional Details

Skills

Accounting And Financial Reporting
Accounting Theory
Analysis Benchmarking
Analyzing Financial Statements
Business Financial Analysis
Create Analysis In Profitability And Profit Center Accounting
Critical Thinking
Financial Acumen
Global Perspective
Hospitality Industry

Earning Criteria

Module 1: Basics of Operational Benchmarking Demonstrate the need for operational benchmarking. Outline Key Performance Indicators (KPIs). Utilize vertical, horizontal, and ratio analysis to ascertain the financial health of your operation.
Module 2: Meet the KPIs Illustrate the role of KPIs in operational benchmarking. Calculate and apply basic and advanced KPIs that are essential in conducting operational benchmarking. Distinguish how KPIs are affected and require tracking by seasonality, moving averages or when reflected in different formats--i.e. percentage of revenue, Per Available Room (PAR), or Per Occupied Room (POR). Calculate and demonstrate when to use indices in operational benchmarking.
Module 3: My Hotel's P&L Identify and interpret the key measurements in the various hotel operating and undistributed departmental financial schedules. Calculate and evaluate the results of flow-through and flex ratios.
Module 4: Choosing the Proper Competitive (Comp) Set Define a Comp Set. Distinguish between the use of internal versus external Comp Sets. Evaluate the considerations in selecting a sound Comp Set. Illustrate the use of operational benchmarking and the Comp Set in enhancing profitability.

Standards

Certificate and CPE Earned

A 90% pass rate must be achieved on assessment in order to earn the certificate.