The Blue Book is an ultimate guide for financial and management accounting in the hotel industry, and it is like no other. Some academic books for the hospitality industry do exist; however, as the term Òhospitality industryÓ refers to lodging, food & beverage, event planning, transportation, and recreation, the industry is already complex on its own. It explains why such books do not conveniently cater to a hotelÕs needs. Moreover, these books dedicate many pages to corporate financing, which has little or nothing to do with the property level. Although there are some ground rules within the hospitality industry, the hotel has its unique accounting procedures and techniques, and this is when this book plays a main role.
With over twenty five years of valuable experience with the best international hotel operators in six countries, the author shares the essential and practical knowledge and guidelines to build a strong Finance Division in hotels. Therefore, this book perfectly caters to all financial professionals, from the start of their careers to becoming finance leaders.
The contents of this book are certainly comprehensive and thorough - highly relevant and easy to understand. This makes it suitable for financial professionals, stakeholders including division heads, general managers, auditors, owners, and ownerÕs representatives. All will greatly benefit from it.
The Blue Book includes the following twelve parts that provide the most essential needed information to understand the hotel finance functions and to build a strong finance division:
Part One: Basic Accounting
Part Two: Revenue Management
Part Three: Cost Management
Part Four: Labor Management
Part Five: Other Expenses Guidelines
Part Six: Financial Analysis
Part Seven: Budgeting and Forecasting
Part Eight: Cash Management
Part Nine: Hotel Investments
Part Ten: Hotel Management Software
Part Eleven: Financial Functions and SOPs
Part Twelve: Chart of Accounts
This book uses the Uniform System of Accounts and GAAP as its main reference, ensuring that the information provided to the readers is the most updated and relevant version of the modern hotel industry.