Unit 4: Hospitality Business Toolkit: Financial and HR Report

This report provides a comprehensive analysis of the hospitality business toolkit, focusing on the Marriott Hotel chain. It begins with an investigation of financial performance management principles, including consistency, justification, timelines, and documentation. The report then applies the double-entry bookkeeping system to record sales and purchase transactions, producing a basic trial balance. The second part of the report reviews the stages of the HR life cycle and their importance in retaining and developing talent, using Marriott as a case study. A performance management plan is developed for a specific hospitality job role. The third section identifies specific legislation that hospitality organizations must comply with and illustrates the impact of employment, company, and contract law on business decision-making. The final part explains different functional roles within the hospitality sector and how they interrelate, using an organization chart, and discusses different communication methods. The report concludes with a summary of the key findings and provides references.

Unit 4 The Hospitality
Business Toolkit

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
P1 Investigation of the principles of managing and monitoring financial performance.............4
P2 Application of double entry book-keeping system of debits and credits to record sales and
purchase transactions in general ledger.......................................................................................5
P3 Production of a basic trial balance applying the use of balance off rule...............................7
TASK 2..........................................................................................................................................10
P4 Reviewing stages of HR life cycle which is applied to a specific hospitality job role and
their importance in retaining and developing talent..................................................................10
P5 Development of performance management plan for a specific hospitality job role applying
techniques to resolve problems.................................................................................................12
TASK 3..........................................................................................................................................14
P6 Identification of specific legislation that a hospitality organisation has to comply.............14
P7 Illustration of the way in which employment, company and contract law has potential
impact upon business decision making.....................................................................................15
TASK 4..........................................................................................................................................16
Explanation of different functional roles within the hospitality sector and how they interrelate
using the organisation chart .....................................................................................................16
Different communication methods in organisation ..................................................................17
CONCLUSION..............................................................................................................................17
REFERENCES .............................................................................................................................19

INTRODUCTION
Hospitality sector is one of the most essential sector within business world as it includes
various kind of services that are associated with travel, tourism, catering, food services ,etc. The
main objective of all companies within the hospitality sector is to provide good and effective
services to the customers. When business is operated within the hospitality sector, it is easy to
earn profit of all the customers are have fulfilled their choices and preferences. For the effective
achievement of goals and objectives, it is concluded that all the companies have worked
effectively to attain organisational goals. The company considered for completing this file is
Marriott Hotel chain (Brealey, and et. al., 2012). This is one of the biggest hotel chain of US. It
is providing services across the world. This report discusses about various topics such as finance,
marketing, affect of legal as well as ethical issues, different functions of the company, etc.
TASK 1
P1 Investigation of the principles of managing and monitoring financial performance
There are different organisations within business environment which are providing
services within the hospitality sector. There is need for managing and controlling the financial
aspects of the company while providing service to the customers. The main focus of Marriott
hotel ehilw giving it's services to people in market is mentioned below -
Consistency: This is a major aspect while providing service as it is essential to manage
and control all the finances and money related issues. These are helpful in providing customers
good and effective service. The management of Marriott hotel ensures that it ia taking care of all
the activities involved in providing service to customers.
Justification: As per this factor, it is concluded that companies must keep record of
whatever they are doing. All the activities and tasks need money and it is essential duty of the
organisations for keeping a book record which will provide information about what amount of
money is required for managing and monitoring the business activities. The managers of Marriott
are involved in analysing the actual needs and demands of customers and providing them
effective services.
Timelines: According to this principle, it is stated that all companies have to complete all
the tasks and activities of business within specified time frame. It is essential for the companies
to take care that they are able to provide effective services to customers within specified time

frame. This helps in developing good brand image and reputation. In context of the Marriott
International, it is seen that all the accounting department is taking care of managing accounts
evert day so that there is no problem in future.
Documentation: This is defined as an important factor which explains that all the
business operations and activities are done under proper documentation. This means that it is
easy for managing as well as monitoring the work related to different departments of Marriott.
All the transaction and profit loss details are included in this (Chapman, 2011). The Marriott
International must know how to manage and record the transactions properly.
Recording all expenditures
Incomings Outgoings
Wages Weekly service of rooms
Room service Housekeeping
Benefits Gifts, offers, discounts
Allowances Household utility bills
Drinks
Lunch purchases
P2 Application of double entry book-keeping system of debits and credits to record sales and
purchase transactions in general ledger
Profit and Loss Statement:- The profit & loss statement is known as financial statement used
for representing revenue incurred by the organisation. The accounting period can be monthly,
quarterly and yearly basis. Profit and loss statement is also known as income statement. The
double book keeping system is known as the process in which there is recording of all the
transactions that includes records of credit as well as debit.

Profit and loss statement of Marriott Hotel for January 2020
Effective recording of debit and credit:- This is known as the process for the recording of all
the transactions that take place within Marriott hotel. Within process of record keeping, It is
ensured that there are proper management of all the transactions of debit as well as credit. The
recordings also include journal entries. They also consists information about the debt with
receiver, credit transaction, debit transaction, etc. when all the recordings are kept properly, it is
easy for maintaining data within systematic way.
Manual addition to computer software to record financial data together with
information
Financial statements are the ones which are developed within the Marriott organisation
for preparing the accounting system (Doniņa, 2015). The accounting system is used for
analysing and making strong decisions related to the organisational goals and objectives. All the
records are maintained within Marriott International for minimising the need of book keeping.
Computers are used for analysing the accounts and keeping the records in effective manner.

Particulars Debit Credit
Cash in hand (Overdraft) 10700
Petty cash expenses 750
Cash sales 3350
Credit card sales 14795
Free issues 575
New kitchen equipments 6540
Food purchase 7900
Beverage purchases 12970
Purchase return 200
Discount received 2300
Credit notes 190
Rent 2850
Utilities 475
Functions and events (Income) 5967
Wages 4590
Debtors 700
Till shortage 152
37502 37502
P3 Production of a basic trial balance applying the use of balance off rule
Trial balance – This is defined as record of different general ledger accounts that appear in
ledger of the company. This provides an information about all the transactions related to debit

and credit of the firm. It is ensured by the Marriott management that the balance between credit
and debit must be equal.
Balance off rule
This is explained as the closing of all the accounts at the end of year. The amount
recorded in the previous year is taken forward so that the amount of money is balanced off. The
main objective for using the balance off is to evaluate all the information which is contained
within ledge and journals (Foster, McCabe, and Dewhurst, 2010). The Marriott International
Hotel has to ensure that all the money related transactions are kept in record.
Particulars Debit Credit
Bank loan 12000
Cash in hand 11700
Capital 13000
Rates 1880
Trade creditors 11200
Purchases 12400
Sales 14600
Sundry creditors 1620
Debtors 12000
bank loan interest 1400
Other expenses 11020
Vehicles 2020
52420 52420

Trial Balance for Marriott Hotel

TASK 2
P4 Reviewing stages of HR life cycle which is applied to a specific hospitality job role and their
importance in retaining and developing talent
Marriott International is a hotel chain of US and it is providing services across the world.
There are a lot of responsibilities and roles of the managers working on this hotel. The HR life
cycle of an organisation is consisting of different collaboration among the various departments of
the company. The HR life cycle of any organisation has the main aim of retaining employees
within the company and managing the smooth functioning of the company. The different stages
of HR life cycle within Marriott organisation for applying this to different issues of the company
like talent acquisition and retention are described below -
Attraction – This is the firsts step of the HR life cycle. As Marriott hotel is involved in
providing room and lodging service to customers, the main thing which is kept in mind is to hire
talented and skilled employees (Hassanien, and et. al., 2010). It is ensured by the management
of Marriott hotel that all the staff, employees, managers and cleaning people are talented and
they are able to do their work in effective manner. The managers working in Marriott are
allowed to attract more number of people to work with their organisation.
Recruitment – This is associated with the hiring of new and talented employees who can
help in attaining organisational goals. There is proper management for developing staff retention
within Marriott. The managers working in Marriott hotel are provided attractive compensation so
that they work in better manner and achieve organisational goals. The management of Marriott
provides job advertisements on various job portals, websites, etc. the present staff and managers
of Marriott are given training as per their requirements. Their skills are developed and abilities
are enhanced by the use of these trainings and development sessions.
Onboarding - This is the process which is helpful for providing induction to new
employees. This provides an opportunity for the new employees and staff for making them
familiar with the business culture of Marriott. This is an important session so that all employees
will feel involved while working in the company.
Enablement - As per this stage of HR life cycle, it is concluded that new employees are
recruited within Marriott hotel and they are provided effectively within the company. There is a
session provided to employees that helps in managing the company in proper manner. These

sessions will provide information about culture, mission, values and vision of the company.
Also, Marriott organisation provides orientation programs for making new employees aware
about the rules and regulations followed within the company.
Development - As per this stage, it is concluded that the managers of Marriott
international are aware about the career development. They know what are the activities and
tasks helpful for and how they will help in attaining organisational goals. Marriott international
is providing training and development program for managing the employees and managers.
Separation - This is known as last stage of the HR life cycle and this is known as
separation point (Kuruuzum, and Koksal, 2010). There are different functions which are
developed for attaining organisational goals and objectives. There are different employees and
managers for various departments of Marriott. It is essential for the company that there must be
attainment of success by effective functioning of all the departments.
Illustration 1: HR Lifecycle.2020

P5 Development of performance management plan for a specific hospitality job role applying
techniques to resolve problems
Performance development Plan is defined as the process that is helpful in enhancing the
quality of skills and abilities of a person. It is important for the Marriott international that they
are having skilled and talented employees that are able to manage their work properly. The
performance development plans are given below -
Job role Time
period
Development
focus
Development
strength
Developmen
t needs
Development
Action
Time
Durati
on
Experienc
ed Middle
manager
Jan 2019-
Feb 2020
The main
objective is to
improve the
leadership
skills and
provide strong
instructions
Problem
solving skills
Functional
expertise
It is essential
to improve
the abilities
of managing
and leading
change
within
Marriott.
There is need
of
Cross
functional
expertise.
The experience
manager has to
talk to various
other managers
and know their
needs and
demands. This is
helpful in
managing work
properly. The
work is
leveraged by
analysing
present strength
of an individual
and developing
skills for doing
great work. This
is helpful in
managing
strategies and
plans in
7 days

effective
manner.
New first
level
manager
Dec
2019- Feb
2020
This includes
having new
employees
development
program for
managing
brand
effectively.
Project
management,
Effective
communicatio
n skills and
Ability for
driving success
This includes
mentoring
and
Coaching
different
team
members of
the
organisation.
This includes
the working
with different
type of
employees and
workers. This
includes
managing the
team work and
knowing that all
the work is done
in effective
manner.
Feedbacks are
taken from
employees to
know whether
they are
comfortable in
workplace or
not.
15
days
Food and
beverage
manager
Jan 2019-
Feb 2020
This includes
an
Experienced
manager who
is able to
manage and
control
Good
management
Providing food
and beverage
services
effectively
Guiding
workers in
effective
manner
Guiding and
helping workers
to provide good
services to
customers.
10
days