Analysis of Hilton Hotels: Financial, HR, and Communication Strategies

This report provides a comprehensive analysis of Hilton Hotels, examining its financial transactions, human resources management, communication methods, and adherence to regulations and laws. The financial section explores principles of financial management, including double-entry bookkeeping, trial balances, and cost analysis, with a focus on how Hilton manages its finances and calculates profit margins. The HR section reviews the HR life cycle, particularly talent acquisition and retention in the food and beverage sector, along with performance management plans and legal compliance. The report also delves into Hilton's communication strategies, functional roles, and integration practices. It concludes with recommendations to enhance performance across financial, HR, and communication aspects, offering insights into achieving growth and maintaining a strong financial position.

The Hospitality Business
Toolkit

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Introduction of financial transaction...........................................................................................1
Investigation of principles of managing and monitoring financial performance of Hilton........2
Principles of double entry bookkeeping system of debits and credits using standard data........3
Trial balance and its purpose using a sample data......................................................................3
Analysis of types of costs and how they are managed to influence financial performance of
Hilton and how profit margins are calculated.............................................................................3
Importance of accurate recording of transactions in line with accepted accounting principles..4
Critical evaluation of role financial management and monitoring in achieving growth in
Hilton and recommendations. ....................................................................................................5
TASK 2............................................................................................................................................5
Review of different stages of HR life cycle applied to issues in talent acquisition and
retention in food and beverage sector.........................................................................................5
Evaluation of HR life cycle and its importance in supporting, growing and retaining talent....6
Performance management plan...................................................................................................7
Judgements and recommendations in stage of HR life cycle......................................................7
Legislations which comply and adhere in daily transactions......................................................8
Impact of contract law on business and decision making...........................................................8
Implications of regulations..........................................................................................................8
Impact of ethical issues of regulations, legislations and principles with judgements and
recommendations........................................................................................................................9
Exploration of functional roles in Hilton....................................................................................9
Communication methods and levels used in Hilton....................................................................9
Review of coordination and integration in business.................................................................10
Analysis of effectiveness of communication methods, integration and monitoring.................10

Judgements and recommendations to enhance performance....................................................10
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Hospitality business refers to a broader concept that consists of theme parks, cruise line,
transportation, event planning and other activities. Hospitality business generally are companies
that are serving high class services which are related to stay and luxury of customers(Higgins-
Desbiolles, Moskwa, and Wijesinghe, 2019). This business companies have a main focus of
increasing customer satisfaction towards them. Hospitality company is having objective of
dealing with customers effectively and providing them high quality of experience to them so that
value to customers should be increased and companies can be able to gain more competitive
advantage and create brand image for them(An, and Quail, 2018). Hospitality business toolkit
aims at providing a quality services to customers by performing their various functional activities
in their operations. This report is based on hospitality business of Hilton Hotels, that is an
American multinational hospitality company that manages and franchises a broad portfolio of
hotels and resorts. Report below includes financial aspects of hospitality businesses in Hilton
Hotels, human resources, regulations, legislations and law, effective communications skills and
practices along with its conclusion.
MAIN BODY
TASK 1
Introduction of financial transaction.
Financial transactions is defined as a communication and agreement that are carried
among seller and buyer in exchange of asset for making payments. It basically consists of states
of finances of two or more than two businesses. In terms of Hilton, financial transactions are
said to be its important role which is to be performed in their company in order to ensure
availability and follow up of statutory laws, various regulations and to provide a sense of safety
to their investors so that they will be able to invest in hospitality business companies in a
systematic manner(Ma, Cheng, and Hsiao, 2018). There are some components which ensures
clear compliance to their investors by which dealing can be done systematically. Source documents: It refers to statement of initial documents in which all types of
information and data are recorded in relation of business transactions. Source documents
provides statements in which various information is associated with books of accounts
are recorded in their financial system. In terms of Hilton Hotels, some of source of
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documents used in there hotel are cheques, journal vouchers, petty cash vouchers, credit
sales, credit notes and so on. Company is using information and data from various source
representation that are recorded in original books of accounts in order to sustain in long
run.
 Recording process: It generally refers to keep recording of financial transactions that are
taking place in company 's operations. In terms of Hilton Hotels, company regularly and
manages its accounts by book keeping system. As it fruitful to have a record of financial
transactions in order to increase easiness of operations and avoid any confusion in
performing activities.
Investigation of principles of managing and monitoring financial performance of Hilton.
There are some of principles that are used by hospitality business companies in order to
manage and monitor financial performance of their companies (Mejia, and Torres, 2018) .
Various financial principles that is use by Hilton Hotels in order to manage and monitor their
performance are as follows: Justification: It refers to principle where various justifications are related to books of
accounts and records in book keeping. For managing and monitoring outcomes Hilton
Hotels 's main focus to determine and analyse various actual data and make effective and
efficient decisions to have better financial outcomes. Documentations: It refers to a legal principle that is used by Hilton Hotels that could
proved to be useful and beneficial for managing and monitoring financial outcomes.
Company managers directs in keeping all transactions in a elusive way. Consistency: It generally refers to principle which directs to adapt accounting principle
or method that follow consistency in accounting periods that results in higher efficiency.
Hilton is using principle of consistency and using various techniques and book keeping
records to maintain efficiency in their financial operations.
 Timeliness: It refers to principle which is related with higher authorities and their
projects in a way that results in meeting various requirements of company in effective
manner (Bilro, Loureiro, S.M.C. and Guerreiro, 2019). In terms of Hilton Hotels,
company is using principle to have effectiveness in their timescale of working so that
there will be a adjustments their transactions are kept timely recorded and systematically
monitored.
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Principles of double entry bookkeeping system of debits and credits using standard data.
Double entry bookkeeping system is defined as a fundamental concept that relates in
having book keeping and accounting that states each financial transactions has equal and
opposite effects in at least two various accounts (García-Rodríguez, Dorta-Afonso, and
González-de-la-Rosa, 2020) . It is basically a system of recording transactions where each entry
in accounting transactions needs corresponding and opposite entry in different accounts. It is
basically based on accounting principle that states for every debit it is essential to be equal to
credit and process of recording transactions are recorded are said to be journal entries . As these
recordings are beneficial for managing data in a systematic and ethical manner through financial
performance can be examined. For this profit and loss statements are examined that refers to
statement in which financial statements of companies and shows company revenues and
expenses during a specific time. Instance of profit and loss statement in terms of Hilton Hotels is
as follows:
assumed data
Profit and loss statement of Hilton Hotels for March 2020
Particulars Amount Particulars
To Opening Inventory 17000 By Sales 145000
To Purchase 63000 Less : Return Inward -3200
Less : Return Outward -1800 61200 By Closing Inventory
To Gross Profit 84600
Total 162800 Total
To Administration Cost 33000 By Gross Profit
TO Distribution Cost 30500
To Depreciation 9000
To Finance Cost 1600
To Tax 2100
To Net Profit 8400
Total 84600 Total
Trial balance and its purpose using a sample data.
It refers to to list of all general ledgers accounts that are contained in ledger of business.
Trial balance generally refers to bookkeeping worksheet in which balance of all ledgers are
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compiled into debit and credit to have equal in their total amounts. Hospitality business
companies basically prepares trial balance periodically at end of each reporting period. Main
purpose of making trial balance is to ensure that entries are in company's book keeping are
systematically and mathematically correct. In terms of Hilton Hotels, instance of trial balance of
there is as follows:
assumed data
Trial Balance for Hilton Hotels
Particulars Debit Credit
Storage Cost 500
Purchase 10500
Sales 14600
Moter
Expenses 530
Cash at Bank 54000
Cash in Hand 18700
Payables 29100
Premises 250000
Van 52250
Fixtures 8350
Inventory 23200
Receivables 15420
Sales Return 900
Purchase
Return 70
Salaries 5000
Business Rates 1480
Capital 397060
Total 440830 440830
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Analysis of types of costs and how they are managed to influence financial performance of
Hilton and how profit margins are calculated.
Cost is defined as money that company spend for creation and production of services and
products. In terms of Hilton Hotels, company uses these cost to manage in order to influence
financial performance and for calculation of profit margins are as follows: Variable cost: it refers to cost that fluctuates and changes with level of production and
output changes in company, changes in variable cost is based on dependency of number
of services and products produced(Van der Wagen, and White, 2018) . Variable cost in
Hilton Hotel is set according to its occur budgets and through resource planning that will
ascertain future resources requirements and their scope of work. Fixed cost: It refers to cost which is fixed and do not changes according to number of
services and products over a specific period of time. Fixed cost are cost that are cost that
are related to rent, legal bills, salaries etc. In terms of Hilton Hotels, company manages
its fixed cost by effectively managing its cost estimation in order to manage and maintain
its financial position.
 Operating cost: It refers to cost which determines expenses that are related with day to
day business operations. In terms of Hilton Hotels, company is planning its operating
costs according to its daily expenses that are required to be met to carry their operations.
Importance of accurate recording of transactions in line with accepted accounting
principles.
Proper book keeping includes managing and maintaining up to date accounting system
which records business transactions when it occur along with transactions. It is important to keep
a systematic record of receipts and bills on company's behalf. Importance of recording accurate
recording of transactions with line of accounting principle in terms of Hilton Hotels is as
follows:
 Accurate book keeping helps in avoiding penalties and interest as it make easier to pay
right amount of tax at right time.
 It helps in informing owner of company, about their financial position that helps in
strategic planning(Elshaer, 2019) .
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 Well kept records helps in saving tax. As it act as a reminder to deduct individual's credit
and expense. This reminds them about all expenses that is need to be claim against
income.
 Accurate recording of financial transactions helps Hilton Hotels in maintaining and
managing backup for all income plans and expenses that is incurred at time of audit.
Critical evaluation of role financial management and monitoring in achieving growth in
Hilton and recommendations.
It has been evaluated that financial management and monitoring plays a important role in
accomplishing objectives in hospitality businesses. As it consists a chain to quality that is to be
served to customers, that are mainly likely to experience forecasting demand, identification of
costs and controlling expenses to maintain financial performance of company(Goto, and et. al.,
2018). Financial management basically includes adapting and using of management principles to
manage its financial assets. Some of recommendations that helps in achieving growth and
maintaining financial position of company are as follows:
 Hilton Hotels should always focus on monitoring financial position on timely basis.
 Company should ensure that customers are timely paid.
 Hilton Hotels can ensure that problems and delays are to be timely met when they arise to
maintain growth.
 Company is recommended to pay taxes on regular basis.
 It is recommended for Hilton Hotels to examine and planned its operating cost according
to its identified budgets.
 It is recommended to keep a systematic and well record of financial transactions in book
keeping.
TASK 2
Review of different stages of HR life cycle applied to issues in talent acquisition and
retention in food and beverage sector.
HR life cycle is referred as a systematic process of integrating various HR activities. As
HR life cycle is associated with integration of various HR strategy creation and its execution
with employees in its services. In terms of Hilton Hotels, various of HR life cycle which is used
by hospitality company to recruit employees are as follows:
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 Recruitment and selection: It refers to a process that is related with recruiting various job
applicants for various job profiles by having specific skills and experience and selecting
them on basis of that (R.C. and Sturman, 2018) . HR manager of Hilton uses this stage of
recruitment and selection for hiring various job applicants having qualified skills and
experience for their vacant job profiles in company. Induction and orientation: It refers to induction and orientation programmes that is
implemented so as to make to aware about their job profile and designation so that they
are able to perform their job roles with their higher efficiency and capability. HR
manager of Hilton uses process of induction and orientation of employees when they are
newly joined and make them aware about their roles and responsibilities. Career planning and development: As once employees are established in company, then
main focus of company is to enhance their career development by improving their skills.
Hilton Hotels ensures that employee's skills are enhanced and personality development
should be done to serve quality services to their customers and handling customer's
queries smoothly. Retention: In this phase HR life cycle, there is lot of time and money which is invested in
maintaining and running of operations of company. HR manager of Hilton Hotels is
focusing on providing tools and skills that will set an employee to work with its higher
potential level to sustain for longer period.
 Separation and termination: It refers to process where employees leave company by
voluntary and getting retirement from their job and duties. HR manager of Hilton Hotels
is using this process for retiring their existing employees so that new talent and skilled
job candidates can be admitted.
Evaluation of HR life cycle and its importance in supporting, growing and retaining talent.
HR life cycle plays an important role in supporting, expanding and retaining talented and
skilled employees with company in order to enhance productivity and quality of company's
operations (Habets, Jeandarmeand Kennedy, 2020) . Importance of HR life cycle in supporting,
growing and retaining of employees in terms of Hilton Hotels are as follows: Recruitment and selection: In this HR manager is focused to recruit those candidates
who are able to attain appropriate skills and knowledge which helps in improving quality
of employees in Hilton.
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 Induction and orientation: At this stage employee is being helped in understanding
about working pattern in company that makes employees work accordingly to given job
roles. This will support employees in gaining information and understanding business
environment. Career planning and development: It will help in improvising talent in employees by
making them realizing about their skills in which they hold specialization. Retention: In this step in HR life cycle helps in having talented employees within
company with use of various techniques such as positive environment, maintaining
healthy relationships, keeping motivation and satisfaction high.
 Separation and termination phase: At this stage, HR manager of Hilton Hotels, retire
existing employees, this exit process helps in promoting positive atmosphere which
provides scope to recruiting new talent at vacant places.
Performance management plan.
It refers to a process that various companies uses to align experienced employees and
resources to strategic objective and priorities that results in ensuring and accomplishing
company's short term objectives and long terms objectives which are being consistently met in
effective and efficient manner. HR manager of Hilton Hotels is implementing performance
management plan to control outcome of their employees ad guiding them towards acquiring its
goals and objectives(Liang, and Wong, E.S.F., 2020) . Main focus of Hilton Hotels is to provide
quality experience to its customers and generating customer satisfaction towards them in order to
gain competitive advantage. Performance management plan can be developed in three stages that
are as follows: Plan: In this stage manager of Hilton Hotels, focus on identifying major queries and
problems that are faced by customers and tries to serve them by handling their queries
well and generating customer satisfaction in order to sustain in markets for long run. Monitor: in this stages of performance management plan manager of company guides
and motivates its employees to provide valuable and higher performance towards
customers so that customer satisfaction can be highly generated towards them.
 Review: In last stage of performance management plan all performed activities is being
monitor and managed by manager of Hilton Hotels in order to meet customer
expectations on time and increase profitability.
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Judgements and recommendations in stage of HR life cycle.
From this it has been evaluated that HR life cycle plays a vital role in identifying skilled
and talented workforce for company to carry their operations effectively. It has been
recommended that Hilton Hotels is recommended to use a systematic and proper recruitment
process in order to hire skilled employees for higher performance.
Legislations which comply and adhere in daily transactions.
Legislations referred as statuary laws that are governed by various legal authorities and
government of UK. These laws and regulations are being developed for having safety and
protection to working of employees. There are various legislations that are used by hospitality
business companies that are related to health and safety measures so that proper assistance can
provided. In terms of Hilton Hotels various legislations are as follows: Food and safety legislation act: It is referred to a law for which ensures smooth running
of operations while providing optimum level of satisfaction to customers. They are
interlinked with each other as house keeping is responsible for cleaning guest rooms and
provides required services.
 Customer legislations act: It is referred as law that is made for protecting customer's
rights along with minimising business difficulties. Hilton Hotels is using this law to gain
customer satisfaction towards them.
Impact of contract law on business and decision making.
There are several potential impact on decision making due to legislations and laws
governed in terms of Hilton Hotels are as follows: Contract law: It refers to have an legal binding between two parties in order to enter into
an agreement(Jones, 2020). Managers of Hilton Hotels has implemented contract law to
ensures agreements is to be done according to laws and regulations.
 Employment law: This law regulates relationship between employees and employers.
The law has been covered that what is company is paying to its employees for their work
and creates minimum requirements for working conditions. With this Hilton Hotels, is
able to maintain an healthy relationship among employees.
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