Exploring Turnover In Hospitality Industry.

Table Of Contents

Literature Review................................................................................................................................03

Introduction...............................................................................................................................................03

Overview...........................................................................................................................................................10

Factor For Turnover............................................................................................................................11

Hospitality Industry Is Desperate By Nature..................................................13

Current Situation..................................................................................................................................18

Customer Services................................................................................................................................23

Basic Facts..................................................................................................................................................25

1. Community or City Hotels...................................................................................26

2. Business Hotels..............................................................................................................26

3. High-quality Limited-Service Hotels....................................................27

4. Resort Hotels....................................................................................................................27

5. The Traditional United Kingdomn Inn.........................................................................28

References.....................................................................................................................................................31

Exploring Turnover In Hospitality Industry

Literature Review

Introduction

One of the most crucial aspects of any hospitality business is the management of its accounting system. Accounting in the hospitality business covers a variety of topics which include credit cards and credit card receivables, the understanding, analyzing, and interpreting of financial statements, ratio analysis and internal control, the "bottom-up" approach, cost management and the cost volume profit approach to decisions operations, budgeting and cash budgeting, and, statement of cash flows and working capitol.

In the fast-growing and increasingly competitive hospitality industry, every business is under extreme pressure to maximize revenue and minimize costs simply to maintain existing profit levels.

A rally of the trade union UNISON in Oxford during...

English: Guest pager for hospitality industry and ...

English: Independent Pilots Association (IPA) Unit...

Hospitality management accounting is about learning to have a firm grounding in the fundamental concepts and analytical techniques needed to take direct control of an accounting system and evaluate the effectiveness of current and past operations. (Alexander, J., and P. Alexander. 1987)

To see the hospitality management from the United Kingdom perspective it is essential to first look at United Kingdom history of hospitality. In the last 50 years, United Kingdom investors and bankers believed firmly that real estate values would always raise, making property, including hotels, one of the safest ways to invest. In turn, banks lent aggressively to companies investing in hotels, sometimes up to the total amount of the project, including land. This practice frequently created the potential for over-leveraged, high-risk development, particularly in areas where assumptions of continuous increases in real estate values proved invalid in recent years.

The Food and Hospitality Industry has...