BUSA 3842 Cost Control in the Hospitality and Tourism Industry

Success in the hospitality and service industry requires management to understand how to make a profit with tight margins, significant competition and high labor costs. This course focuses on analyzing revenue streams that can often impact operating costs. Students will learn how to analyze costs associated with the hotel and restaurant industry by understanding budgets, income statements, operating procedures and labor productivity.

Credits

3

Prerequisite

none

Typically Offered

Athens Campus: spring TBA — Demorest Campus: not offered

Student Learning Outcomes

At the successful completion of this course, students will be able to:

1. Describe how hospitality managers use the operating control cycle in maintaining profitability.
2. Describe the basic steps in the control process by understanding the important of operating systems.
3. Explain the factors such as pricing considerations that influence menu planning strategies and identify external and internal factors that influence price changes.
4. Describe the importance and function of an operating budget as a planning and control tool.
5. Identify the impact that purchasing, receiving, storage, issuing, preparation and service has on controlling costs.
6. Successfully critique a profit and loss statement and analyze the areas managers can take to improve profitability.
7. Describe the ways that hospitality employees can steal and identify precautions managers can take to reduce theft.