Hospitality Business Toolkit

This document provides insights into the management and monitoring of financial performance in the hospitality sector. It discusses the principles and practices used by Rosewood London to manage their financial performance. Additionally, it explores the stages of the HR life cycle in the job role of Rosewood London and highlights the importance of talent retention. The document also includes a performance management plan to address negative employee behavior and improve retention.

Hospitality Business
Toolkit

Table of Contents
INTRODUCTION...........................................................................................................................2
TASK 1............................................................................................................................................2
Management and monitoring of financial performance..............................................................2
Implementation of Double entry system to record transactions in ledger...................................3
Preparation of Trail Balance........................................................................................................6
TASK 2............................................................................................................................................7
Several stages of HR life cycle in job role of Rosewood London and its importance in
retaining of talent in the organization..........................................................................................7
Performance management plan to resolve negative behavior of employees and address issue
related to employees retention.....................................................................................................8
TASK 3............................................................................................................................................9
Several legislations applied on the organization and hospitality sector......................................9
The employment and contract law on the decision making of the business explain with
examples....................................................................................................................................10
TASK 4..........................................................................................................................................10
How various functions in the hospitality sector are interrelated to each other..........................10
Provide several methods of communication, coordination and monitoring in a particular
department of organization in order to provide strength to the value chain..............................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13
Books and Journal......................................................................................................................13

INTRODUCTION
Hospitality sector includes various organizations who are liable to provide their services to their
customers in order to on some profits and provide best experience to their customers to retain
them with the organization. This sector includes services like housing theme parks foods
convince events and many more (AlNuaimi, Khan, and Ajmal, 2021). London is one of the
organization in the hospitality sector who provides hotel services such as a competition birthday
parties family gatherings events and many more to their customers. In order to manage the
services provided to the customers and effective manager there are several functions which are
included in the operations of the organization for stock this report contains seven principles
which helps to manage and monitor the financial performance of the rosewood London
organization. Further it also contains the meaning of double entry bookkeeping system in order
to recover because their transactions and attractive furcation with the help of trial balance. Apart
from financial services, the organization is also involved in various functions such as human
resource management and white for life cycle in order to retain the talent in the organization. In
the last that report contains various legislations which all applicable on the business of
hospitality organization and their effect on the decision making of the company.
TASK 1
Management and monitoring of financial performance
Financial performance is the performance of an organization which helps them to show
their profitability and loss in their modes of operations. In order to measure the financial
performance of an organization there are several principles which are provided to manage and
monitor this performance. Rosewood London also maintained their delivery Van used expenses
in order to identify their financial performance in the end of the year or a quarter. As this process
is connected with the monetary resource of the organization it is essential for the company to
maintain their report and manage it carefully. This will help the company to manage their assets
and liabilities and minimize their cost in the organization. It also helps to identify the money
flow in the organization with the help of various financial statements. The principles of financial
transactions management in an organization which has been used by Rosewood London to
enhance their financial performance are given below:

Consistency: According to this principle of financial management the policies and
procedures should be established by the organization in order to handle the transactions and
consistent manner and address similar type of transactions in routine manner. This will help the
rosewood London to handle the transactions at the early stage so that they can carry their process
in cost effective manner (Battisti, and Christofi, 2021).
Timeliness: The transactions of the organization should be maintained in the reasonable
period of time which are fixed by the federal agencies are private of sponsor of the university so
that it can give the value to the organization. Preparation of financial transactions in timely
manner will help rosebud London to identify the deviations on time and find IT solution to
manage them.
Justification: Every transaction should have their reason which can be provided to the
agencies for the sponsors so that it can have a proper evidence. This justification will help the
rosewood London organization to prevent themselves from legal applications related to financial
performance.
Documentation: The recording of the transaction should require a proper documentation
which needs to be organized and retained with the organization in in times of audit to provide
evidence for the transactions. This documentation will help rosewood London to provide them to
the auditor at the time of auditor of the company so that they can maintain the trust of auditor as
well as stakeholders on the company which will help them to arrange more finance whenever the
need for the company.
Implementation of Double entry system to record transactions in ledger
Double entry bookkeeping system does a system which has been followed by an
organization to record their data in such a manner that their credit side and debit side equal
proportionate literal. Double entry bookkeeping system is based on three men golden rules that
are debit what comes in and credit was goes out, debit all the expenses and credit all the incomes
and debit the assets and credit all the liabilities. Once entries has been prepared with this golden
rules the double entry bookkeeping system as applied by recording these debit and credit analyze
in order to record various purchase and sales of the organization. Rosewood London is a hotel
which has a separate legal entity and required to have their own accounts so that they can
manage their when an effective manner (Bond, and Barth, 2020). The principle which has define

the structure of accounting equation in the organization is assets minus liabilities is equal to
capital. The transactions recorded in the journal ledger on the basis of the principal and dual
aspects of accounting system has been provided below:
LEDGER:
CASH ACCOUNT
Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Capital a/c 28000 By Rent a/c 2000
To Sales a/c 15000 By Purchase a/c 22000
To Sales a/c 20000 By Prepaid
Insurance
Policy a/c
1500
By Laundry
Fees a/c
500
By Telephone
and Internet
expenses a/c
2500
By Water
Charges a/c
1000
By Wages and
Salary a/c
2550
By Balance c/d 30950
63000 63000
Capital a/c
Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Balance c/d 28000 By Cash a/c 28000
28000 28000

Rent Account
Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Cash a/c 2000 By Balance c/d 2000
2000 2000
Purchase a/c
Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Cash a/c 12000 By Balance c/d 39000
To Vendors a/c 10000
To WH Adams Ltd
a/c
17000
39000 39000
Prepaid Insurance Policy a/c
Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Cash a/c 1500 By Balance c/d 1500
1500 1500
WH Adams Ltd a/c
Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Balance c/d 17000 By Purchase a/c 17000
17000 17000
Laundry Fees a/c
Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Cash a/c 500 By Balance c/d 500
500 500
Telephone and Internet Expenses a/c

Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Cash a/c 2500 By Balance c/d 2500
2500 2500
Water Charges a/c
Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Cash a/c 1000 By Balance c/d 1000
1000 1000
Wages and Salary a/c
Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Cash a/c 2550 By Balance c/d 2550
2550 2550
Sales a/c
Date Particulars J/F Amou
nt
Date Particulars J/F Amou
nt
To Balance c/d 35000 By Cash a/c 15000
By Cash a/c 20000
35000 35000
Preparation of Trail Balance
Trial balance is a statement which helps in organization to record the debit and credit
balance of pleasure in order to rectify its recording in ledger accounts (Santos, 2020). In case of
any deviation and recording of the pleasure it will be shown in the trial balance as their balance
of debit and credit will not match in the end. In case of rosewood London the company has
prepare the trial balance to analyses that their accounts are managed in well manner or not. This
trial balance has two sides which is debit side and credit side in which the enrollment process of

the company has been constructed within over counter examination. The trail balance has been
given below for the above given ledger accounts:
Particulars Dr Cr
Cash a/c 30950
Capital a/c 28000
Rent a/c 2000
Purchase a/c 39000
Prepaid insurance Policy 1500
WH Adams Ltd a/c 17000
Laundry fees a/c 500
Telephone and Internet expenses a/c 2500
Water Charges a/c 1000
Wages and salary a/c 2550
Sales a/c 35000
Total 80000 80000
TASK 2
Several stages of HR life cycle in job role of Rosewood London and its importance in retaining
of talent in the organization.
Human resources are the essential part of any organization as they are liable to provide their
services to the organization and their efficiency hazard back on the productivity of the company.
In case of hospitality sector human resource plays a vital role as the experience and quality of
services provided to the customers is completely depend on the effectiveness of the human
resource of the organization (Campiranon, 2021). Identifying the importance of human resource
Management Rosewood London should manage human resource in such a manner that they can
provide the best service to them. It is not easy to former employees for the organization who
works for the welfare of the company will stop the human resource department of Rosewood
London follows the HR life cycle which involves various stages are given below:

Attraction: The people who are in search of potential jobs for them and to be attracted towards
the organization so that they can provide services to them (Risteski, 2020). In order to provide
talented employees to the organization it is essential for them to hire candidates who are
qualified and professional in the field and have some professional as well as soft skills. The HR
of Rosewood London is responsible to attract this type of talents to the organization by providing
a clear description about the requirements of job in the organization.
Recruitment: It is the major task which has been completed by HR manager to select and recruit
the best individual in the organization so that they can provide their services and have their
impact on the profitability and success. Hotel Rosewood London should provide suitable terms
and conditions implementation and strategy of the recruitment process so that they can recruit
best individuals for their organization.
Development: This stage of life cycle is completely dependent on the gross aspect of the
company. It is essential for the organization to provide and developed several skills and their
employees to keep them motivated and secured with the company. This involved to provide
positive as well as secure professional training to the employees so that they can feel motivated
and have high career opportunities in future. This will also help the organization to
knowledgeable and experienced employees in the organization and provide better as well as
quality services to the customers.
Retention: It is not sufficient to recruit and develop the employees the organization should have
one more stage in their life cycle which is to retain The talented employees with them with the
help of seven motivational techniques to enhance their work and provide them appreciation in
the organization. They can provide them appreciation with the help of higher pay my position
gift vouchers leave compensation and many more in the organization. Rosewood London makes
several efforts to retain their employees with them and provide them future benefits such as
promotions what free hotel stays trips and many more to make them happy and satisfied with the
company (Fabrice, and Sivarajah, 2021).
Performance management plan to resolve negative behavior of employees and address issue
related to employees retention
In order to manage performance of employees and manage negative behavior of employees in
the organization the company can use a development plan so that they can overcome the issues

of staff retention in the organization. They can be several stages for their performance
development which are provided below:
Evaluation of employee performances: First stage is to evaluate the performance of employees
in the organization so that organization can evaluate the training measures which need to be
provided to them. The evaluation of the employees performance will also help the organization
to identify the talents are the organization and further help to provide appraisal to them. This
evaluation of employee performance with help Rosewood London to motivate their employees
and effective manner and retain them in the organization (Tormey, Hardebolle, and Isaac, 2020).
Training: On the basis of the evaluation of the employees the organization can arrange training
and development campaign and programs for them. This stage will help them to enhance their
performance in the organization.
Comparison of current performance with the benchmarks: After providing training and
development programs to the employees in organized manner the organization should compare
the current position with the previous position so that they can judge the effect of the training
provided by them. This will also help the organization to manage and monitor their performance
in the training as well as officials of the organization.
TASK 3
Several legislations applied on the organization and hospitality sector
The organizations who are operating in hospitality sector has need to follow several
legislations which are applicable on them by the government (García-Rodríguez, Dorta-Afonso,
and González-de-la-Rosa, 2020). This registrations are formulated with for the benefit of general
people and it needs to be fulfilled by the Rosewood London also. The three main legislation
which are applicable on Rosewood London are given below:
Licensing Act, 1964: In order to set up the business in the hospitality sector the government has
provided that they need to take the license from the government for the same. London has also
require a license to operate a hospitality sector from the government of London to operate.

Health and Safety Act, 1974: This act is associated with the help and safety of employees
working in the organization. This act provides various health and safety measures which needs to
be followed by the hotel Rosewood London for the benefits of their employees and safeguard
their interest in the organization.
Equality Act 2010: This act provides for establishment of equality in the organization and
ensure that there can be no discrimination in the organization on the basis of religion disability
cast and erase and many more. Rosewood London is aware of this act and follow the equality act
and their organization causes smooth running of the business.
The employment and contract law on the decision making of the business explain with examples
Rosewood London is a large organization who operates with so many employees in the
organization to provide great experience and high quality services to their customers. In order to
make decisions for the employees and organization the management should consider three main
laws which are applicable on them and it can affect their operations. These laws have a great
impact on the decision making of the business and are explained below:
Contract law: Hotel needs to formulate several contract with so many persons especially when
they engage employees in the organization they enter into the employment agreement. Contract
is nothing but an agreement which has been enforced by law. Rosewood London also engage in
various contracts and requires to make the changes which are required to fulfill the contract and
make the decisions according to their contract only so that they can avoid legal complications.
Company Law: As Rosewood hotel is incorporated as a company and carry the operations
according to the company law. Hence this is a great impact on the decision making of the
business of Rosewood London.
Employment Law: In order to provide good working environment to the workers and
employees the Rosewood London organization always follow employment law which helps them
to describe the relationship between employees and employers.

TASK 4
How various functions in the hospitality sector are interrelated to each other
All the functions which has been performed in the organization of hospitality sector are
interrelated with each other and requires to fulfill their responsibilities so that they cannot affect
the responsibility of other person (Matthews, 2020). In order to perform the functions in the
organization it is essential for the company to identify that they are operating coordinated
manner. Taking an example of department of cleaning and front desk coordinates with each other
so that they can provide good services to their customer. In order to read the customers and
provide them their rooms it is essential for the front desk officer to clarify that from the
department of planning that they have completed their services or not. After client has been that
the front test is responsible department of training that they need to clean the room which has
been vacant right now. Similarly the food manufacturing and sales department also connected as
with the increased sales of rooms in the rose hotel will improve the manufacturing of food in the
organizations.
Provide several methods of communication, coordination and monitoring in a particular
department of organization in order to provide strength to the value chain
In order to strengthen the value chain of the organization it is essential for them to use
various methods of communication coordination and monitoring in the organization. Rosewood
London organization managed care supply chain management social network heavy eyes and
many more will help them to monitor them. Rosewood London is majorly using social media
platform in order to communicate with their guest and other personal laws for the organization. It
helps the hotels to communicate co-ordinate and monitor various strategies in their organization.
They use video calls and emails to communicate with their guest in regular manner and also use
more strategies to monitor the activities such as key performance indicators and benchmarks of
the activities (Phi, and Waldesten, 2021).
CONCLUSION
From the above discussion it has been concluded that the hospitality sector organizations
are completely based on their quality of services and the experience of their customers with their

services. In order to manage their high quality of services it is essential for the organization to
have an effective HR cycle so that they can retain the talented employees with them who help
them to provide best experience to their customers. The human resource manager is responsible
for the implementation of this HR life cycle and has a vital role to play to improve the
performance of employees. Several legislations are also applicable on the hotel rosewood
London life liquor control act equality act and many more. These have their impact on the
decision making of the business and especially the contract as well as company and employment
law has a direct impact which has been discussed in detail in this report.

REFERENCES
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Campiranon, K., 2021. Redesigning Events in the Post COVID 19 Crisis A Design Thinking
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empirical evidence from Scandinavian hotel operators. Scandinavian Journal of
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García-Rodríguez, F.J., Dorta-Afonso, D. and González-de-la-Rosa, M., 2020. Hospitality
diversity management and job satisfaction: The mediating role of organizational
commitment across individual differences. International Journal of Hospitality
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Matthews, P., 2020. Insights of an accidental enterprise educator. In How to Become an
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Phi, G.T. and Waldesten, T., 2021. Educating sustainability through hackathons in the hospitality
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Risteski, M., 2020. CONTEMPORARY METHODS AND APPROACHES FOR TOURIST
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Santos, A.R.A., 2020. A client focused business intelligence & analytics solution for the
hospitality sector (Doctoral dissertation).
Tormey, R., Hardebolle, C. and Isaac, S., 2020. The Teaching Toolkit: design of a one-day
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