The HFTP Benchmarking Certificate consists of 4 modules, each is designed to provide you with the information needed to understand the topic, and more importantly, the practical application in your business to help in planning and strategic efforts.
This certificate will focus on some key learning objectives and below is an outline of what will be covered in each module:
- 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.
Hospitality Benchmarking Certificate
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Thank you for purchasing this HFTP/Ascend course, we know you will enjoy this learning experience.