Hospitality Business Toolkit

This report discusses the principles of monitoring and managing financial performance, applying double entry bookkeeping system, stages of HR life cycle, developing a performance management plan, and adhering to legislations in the hospitality sector. It focuses on the Marriott International Hotel and provides insights into financial management, HR practices, and legal compliance.

Hospitality Business Toolkit

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Principles of monitoring and managing financial performance.......................................1
P2. Apply double entry bookkeeping system of debit and credit record sale and purchase
transactions in general ledger.................................................................................................2
P3. Prepare trail balance.........................................................................................................3
TASK 2............................................................................................................................................3
P4. Review the stages of HR life cycle..................................................................................3
P5. Develop a Performance management plan and apply techniques to resolve unconstructive
performance............................................................................................................................5
TASK 3............................................................................................................................................7
P6. Legislations that a hospitality organisation should comply and adhere to.......................7
P7. Probable impact of company, employment and contract law ended business decision
making in hospitality sector....................................................................................................8
TASK 4............................................................................................................................................8
P8. Interrelation between different functional role within hospitality sector.........................8
P9. Different methods of communication, coordination and monitoring within hospitality
organisation............................................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Hospitality business has provides the widest services to the customer and includes the
food and beverages, accommodation, lodging, event management, travel and tourism, cruise line
and many others too. (Boella, 2019). They have been providing the vast services to the customer
by which they have provide the most significant and vital treatment to the visitors by which they
feel so special. This report is based on the Marriott International Hotel that is an American
multinational hospitality provider company and having the business across all around the world.
This report includes the different way to manage and operate the financial performance,
transaction recording to reduce the cost, HR life cycle, performance management plan, different
law and regulation that get followed by the hospitality industry, importance of coordination and
integration of different working department.
TASK 1
P1. Principles of monitoring and managing financial performance
The performance will get monitored and managed to get ensure that the adequate amount
of funds will get circulated within the business within the particular period of time. It is more
important for the account assistant of Marriott International Hotel to measure the financial
performance to get develops the effective strategy for the development of the business and they
follow some basic principle that is as defined below as:
 Grounding of key financial statement: It includes the basic management of the balance
sheet and the profit and loss statement to get forecast the predicted sales by analysing the
overall sales of the year and it is more beneficial to get reduces the overhead and the
residual expenses from the business.
 Preparation of inventory documentation: It is most important that the stock will get
balanced by which company must get purchase the appropriate amount of stocks by
which more profit has been gained. It has been used to analyse the overall sales to reduce
the future wastage to increases the sales and profit ratio (Bowen, 2018).
 Analysis of transparency: - There are some of the different expenses that has not been
directly related to the Marriott International Hotel and this amount will get checked out to
manage the adequate fund by which the profit ration of the business didn’t get affected.
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P2. Apply double entry bookkeeping system of debit and credit record sale and purchase
transactions in general ledger
Double entry book keeping is the method that is more useful for the Marriott
International Hotel as by this they have sufficient information about the credit and the debit
values and it is to measure each and every transaction that is performed within the business.
There is some general ledger that is as defined below as:
Sales account
Particulars Amount Particulars Amount
To balance b/d 7500 By bank account 5000
By Mr. John account 2500
Total 7500 Total 7500
Purchases account
Particulars Amount Particulars Amount
To bank account 6000 By balance b/d 6500
To Ms. Rachial account 500
Mr. John account
Particulars Amount Particulars Amount
To bank account 6000 By balance b/d 6500
To Ms. Rachial account 500
Ms. Rachial account
Particulars Amount Particulars Amount
To balance b/d 500 By bank account 500
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Total 500 Total 500
Bank account
Particulars Amount Particulars Amount
To Sales account 7500 By Purchases account 6500
By balance b/d 1000
Total 7500 Total 7500
P3. Prepare trail balance
Trail balance includes the overall list that is mentioned in the general ledger and it includes
the entire normal ledger that has an account within the Marriott International Hotel (Horng,
2018). In the trail balance each of the ledgers either having the amount in the credit side or to the
debit side below are the trail balance that includes the entire leader.
Particulars Amount Particulars Amount
bank account 1000 sales account 7500
purchases account 6500
Total 7500 Total 7500
TASK 2
P4. Review the stages of HR life cycle
The HR cycle includes all the stages that get followed by the human manager of the
Marriott International Hotel as they have to perform the managing, developing, recruitment,
retention, training and many other functions as well. The Marriott International Hotel will gone
to hire the accountant and for that they must have follow the HR life cycle and that is as defined
below as:
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(Source: six stages of the employee lifecycle, 2018)
Attraction: To get hire the skilled and the talented workforce it is important that the
candidate also get attracted with the Marriott International Hotel. It helps them to get achieve the
better heights as the new employee will comes with the new strategy and the creative thinking
that helps to gain higher profits (Kansakar, 2019).
Recruitment: It is the process through which the different number of applicable
candidates will get collected and from them the Marriott International Hotel will select the best
candidate for their vacant profile and in that they have must take different aptitude and
personality test. The hotel wants a candidate that has better knowledge of account as the relative
post of for the accountant.
On boarding: It is next stage in which the skills, personality, knowledge, experience etc
get developed and for this Marriott International Hotel provides the adequate training and
development. In this the hotel provides the support to the candidate in which they have try to get
more easy with the candidate and provide some time under which the employee easily
understand the working style of the hotel.
Development: It is the stage in which the working capability and the style of the
employee will get developed by which they have performed their task with more sufficiency. In
this the Marriott International Hotel have believe in the employee and tries to transfer the better
values by which employee get related themselves with the hotel (Kim, 2018).
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Illustratio
n 1: six stages of the employee lifecycle

Retention: In this stage the Marriott International Hotel must get try to retain the
employee that have very good experience with the business and support to provide the better
working environment by which the employee get remain with the business for the longer period
of time. As the retention rate is higher and the account department is played the special role thus
it is must that they get remain with hotel.
Separation: It is the last stage and in that either the person get retired or get left the hotel
with the personal reasons. Thus the employee get leave the Marriott International Hotel and
always get in support of the business and provides guidance without their presence as well.
P5. Develop a Performance management plan and apply techniques to resolve unconstructive
performance
Performance management is the process through which the performance of each and
every employee will get satisfied and thus all will have performed their task in order to attain the
goals of the Marriott International Hotel (Konovalova, 2018). In this the higher authority will
provide full guidance under which they have performed their task with more easiness. It is
performed to get reduce the inappropriate behaviour of employee that increases the employee
retention rate and having some steps that is as defined below as:
 Locate performance objectives: In this step the HR of Marriott International Hotel will
have worked to operate different objectives of accountant by which the performance will
get improved. The hotel will set the SMART objectives to set the standardise target that
will enhance the performance.
 Grant training: In this the training will be provided by which the better learning will get
transformed and in that the skills of the accountant will get sharpen that help to raise the
productivity of the business.
 Assess the performance: In this the managers of Marriott International Hotel analyse the
performance and ensure that work get performed in effective manner or not and then
work more appropriately.
 Evaluate actual performance with benchmark: In this stage the benchmark will get set
and then the performance will get compare as per that to measure the development and to
fulfil the loopholes or gap that resist the working performance (Li, 2019).
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 Monitor & control: At this stage the performance will get monitor as well as control by
which the constant growth will get measured with is more important for the success of
Marriott International Hotel.
There is the performance management plan for the new candidate that is appointed as an
accountant and it is as defined below as:
Objective Afford Training Reassess performance Monitoring & control
Expand
knowledge about
general
accounting
The hotel
provides the
training to the
accountant by
which there basic
knowledge will
get developed and
in that the
Marriott
International
Hotel provide
handbooks and
study material.
The performance of the
accountant will get
measure by senior
accountant after the period
of 2 months it provides
relative information about
working behaviour and
progress (Manning, 2018).
In this the accountant get
more learned about working
ability and the performance
will get developed by
developing more knowledge
from the provided study
material.
Development in
data managing
skill
The skills and
working ability
will get
developed by
guiding about the
management of
financial
information to
make more
command on fund
The performance of
accountant will get
reviewed by senior after
the period of 5 months to
get ensure that data must
get handle properly or not
and to make sure that
skills gap will get filled.
As of skill gap will get filled
then the performance will
get evaluated and this
weaker areas also get
stronger.
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flow.
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Techniques to steadfastness unconstructive performance and staff turnover
It is vital for Marriott International Hotel that the negative performance is major reason
behind the employee turnover as its result the retention rate get reduced by which the hotel will
remain in profit (Moreo, 2018). There are some technique that is used to get reduce these issues
from hotel that is as defined below as:
 Generate the right culture: It is more important that employee must get satisfied from
their job and for t hat it is must that they get the best and suitable surround that is more
competitive and have competency that develops the performance of the hotel. Thus
Marriott International Hotel provides transparent culture in which the effective
communication is there by which the performance will get more developed and support
to reduce negativity.
 Propose training: Marriott International Hotel provides the timely training by which the
skills get developed and employee always learns something different. Thus they get more
opportunity to measure the success in personal life and it also support to get develop the
team that performed their function with more easiness and brings more positivity within
working surround.
TASK 3
P6. Legislations that a hospitality organisation should comply and adhere to
The effective management of the Marriott International Hotel have followed some rules
and regulations to get performed under the legislation and it is as defined below as:
Alcohol Licensing Act, 2003:- It is the law under which the hotels provide limited
supply of alcohol in the late night parties. Thus Marriott International Hotel they have served the
alcohol as per the UK act with that didn’t supply the alcohol to under aged children and it
support to developed better brand image in market (Murphy, 2018).
 Management of Health and safety at Work Regulation, 1999: It is the law that
provide safety and security to the working employee. Thus Marriott International Hotel
must get prioritised their employee as well and only uses the safest touch by which they
get secure from negative aspect. As the new machinery will get developed thus hotel
provide training before the usage process by which employee must have knowledge of
how to use the equipments thus they have provide the insurance policy to employees.
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P7. Probable impact of company, employment and contract law ended business decision making
in hospitality sector
The rule and regulations has direct impact on the decision making of the Marriott
International Hotel as they have followed some rules that has associated with the working norms
and is as defined below as:
 Company Law: It is the law under which the hotel must have follow the code of conduct
and perform their function in ethical manner. The Marriott International Hotel must get
followed the different rules that will lies under the government act and follow all
legislation thus get have make effective decision making (Peters, 2018). Thus the hotel
get ensure that their activities has been performed under all legalities. As before making
any policy they must make sure that they have follow all rules to maintain better
efficiency.
 Employment Law: It is the law under which the effective relation will get maintain in
between the employee and the employer by which they must provide appropriate leaves,
holiday, flexibility in working hours, shift, insurance etc. The Marriott International
Hotel must follow that provide insurance and leaves with that perks and bonus as well on
timely basis.
 Contract Law: It is the law that defines the agreement between the different parties that
get linked within the hotel and it is performed to get free from any dispute and
redundancy. Thus the Marriott International Hotel must get followed and with that
consider all the policies in legal format by which more clarity will get supplied by
considering all obligations.
TASK 4
P8. Interrelation between different functional role within hospitality sector
The hospitality industry is the sector that get worked to provide the better care to the
visitors by which they get more relativity within the business and also get more satisfied. In
order to get work with more perfection and efficiency it is must that Marriott International Hotel
makes the effectual interrelation with all the employees that has performed their function while
managing the different departments (Ram, 2018). There are some different interrelations
between the different departments that are as defined below:
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 Financial and Marketing department: The finance department must get manage all the
sales that get associated within the business and thus get managed the credit and debit
under that assign the budget to each activity that is performed within the Marriott
International Hotel. Whereas, on the other hand the marketing department must get
ensure that they have performed more effective marketing under which more customer
get attract towards the different services that get served by the Marriott International
Hotel. In that as much effective the marketing that must people get visit to the hotel and
that must profit will earned by the financial department and in cycle they provide fund to
marketing department.
 Front office and housekeeping department: The front house department makes the
effective interaction with the visitors and get believe them that their services are best and
get satisfied the need of them. They have managed the record of all the visitors that get
booked their services and provide that to housekeeping department and they further get
manage the room facilities as per the number of visitor that get make their visits. Thus
with their collective effort that customer will get satisfied and have enjoyed the better
services (Sipe, 2018).
 Human resource and Food & beverages department: The HR department get hired the
best and valuable employee that get most suited to the appropriate vacant position and in
this they have provide the training and development to ensure that they get performed
their work with more easiness. On the other hand the food and beverage department
makes the delicious services to the customer and makes them happier from the services of
Marriott International Hotel.
P9. Different methods of communication, coordination and monitoring within hospitality
organisation
The communication, coordination and the monitoring collectively has used to get ensure
that the performance and the productivity rate of the Marriott International Hotel will get more
developed. There are some different methods that are used by the Marriott International Hotel to
improvise the working strength of the entire department and that are as defined below as:
Communication: It is a process through which the information will get flowed within
the business with more perfection and in that all the employee will get relate with each other
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with more comfort and have better understanding by which the goals will get achieved with more
easiness. There are some methods that are used by the Marriott International Hotel to develop the
better communication within employees and that are as defined below as:
 Email: It is a method in which the written text will get transferred from one department
to the other to make sure that each one will have the same information. As the marketing
department text the message then the same text will get delivered to the entire department
and thus it is easy to formulate the promotional plan for the hotel.
 Meetings: It is the method in which all the authority will take a part and thus make
effective communication and then collectively comes to the result and review the
feedback of each department by which all get more satisfied (Uen, 2018).
Coordination: It is the process through which the harmonization will get developed by
which all were get worked to achieve the same target and then the resulted outcome will be more
supportive for the growth and success of Marriott International Hotel. There are some methods
that is used by the hotel that are as defined below as:
 Sound planning: In this the similar data will get transmitted by which the superior plan
will get developed under which the standardised outcomes will get achieved in timely
manner. Thus the better coordination will get developed that helps to achieve achievable
outcomes with an integrated loom
 Effective communication: It is the process through which the department have make
better communication and have worked to get influenced each other performance and
moreover worked as the team that is more motivated and has huge support in success of
hotel.
Monitoring: It is the process through which the performance of each employee will get
observed and analysed that could raise the working condition of the Marriott International Hotel
and have some method that is followed by the hotel are as:
 Performance appraisal: It is a method through which the Marriott International Hotel
will provide the recognition to the employee that have better performance and with this
they have get appraisal in the form of bonus, incentive, promotion and many others too
(Foster, 2018).
 Formal survey: In this process the feedback will get collected from the employee about
each other and then comes with the result that who’s performance is more effective as it
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helps to boost more motivation within the employee that are working within the Marriott
International Hotel.
CONCLUSION
It has been concluded from the above report that there are different function and
operation that get performed under the hospitality industry and that all is to provide better care to
the customers. They must have provided training and development to employee to get
improvised the working abilities and thus the target and objective will get achieved in more
successful manner. The hospitality industry must get follow different rules and regulation to
ensure that they get worked with more perfection.
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REFERENCES
Books and Journals
Boella, M.J. and Goss-Turner, S., 2019. Human resource management in the hospitality
industry: A guide to best practice. Routledge.
Bowen, J. and Morosan, C., 2018. Beware hospitality industry: the robots are coming.
Worldwide Hospitality and Tourism Themes.
Horng, J.S. and et. al., 2018. Developing a sustainable service innovation framework for the
hospitality industry. International journal of contemporary hospitality management.
Foster, M. and Carver, M., 2018. Explicit and implicit internationalisation: Exploring
perspectives on internationalisation in a business school with a revised
internationalisation of the curriculum toolkit. The International Journal of Management
Education. 16(2). pp.143-153.
Kansakar, P. and et. al., 2019. Technology in the Hospitality Industry: Prospects and Challenges.
IEEE Consumer Electronics Magazine, 8(3), pp.60-65.
Kim, H.L. and et. al., 2018. The effects of corporate social responsibility (CSR) on employee
well-being in the hospitality industry. International Journal of Contemporary Hospitality
Management.
Konovalova, E.E. and et. al., 2018. Forming approaches to strategic management and
development of tourism and hospitality industry in the regions. Journal of Environmental
Management & Tourism, 9(2 (26)), pp.241-247.
Li, Y. and Singal, M., 2019. Capital structure in the hospitality industry: The role of the asset-
light and fee-oriented strategy. Tourism Management, 70, pp.124-133.
Manning, L., 2018. The value of food safety culture to the hospitality industry. Worldwide
Hospitality and Tourism Themes.
Moreo, A., Green, A.J. and O'Halloran, R., 2018. What certifications are important in the
hospitality industry?. Journal of Human Resources in Hospitality & Tourism, 17(1),
pp.121-135.
Murphy, K. and et. al., 2018. A review of high performance work practices (HPWPs) literature
and recommendations for future research in the hospitality industry. International
Journal of Contemporary Hospitality Management.
Peters, M. and Kallmuenzer, A., 2018. Entrepreneurial orientation in family firms: The case of
the hospitality industry. Current Issues in Tourism, 21(1), pp.21-40.
Ram, Y., 2018. Hostility or hospitality? A review on violence, bullying and sexual harassment in
the tourism and hospitality industry. Current Issues in Tourism, 21(7), pp.760-774.
Sipe, L.J. and Testa, M.R., 2018. From satisfied to memorable: An empirical study of service
and experience dimensions on guest outcomes in the hospitality industry. Journal of
Hospitality Marketing & Management, 27(2), pp.178-195.
Uen, J.F. and et. al., 2018. Supervisory mentoring and newcomer innovation performance in the
hospitality industry. International Journal of Hospitality Management, 73, pp.93-101.
Online
Six Stages to Success with the Employee Lifecycle. 2018. [Online] Available
through<https://inside.6q.io/six-stages-to-success-with-the-employee-lifecycle/>./
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