Financial Performance, HR, and Legal Aspects of Hospitality Business

This report offers a comprehensive analysis of the hospitality business, using The Lowry Hotel as a case study. It begins with an overview of financial performance management, including key financial statements and the importance of maintaining accurate records. The report then delves into the double-entry accounting technique, illustrating how sales and purchases are recorded in a general ledger, and culminates in a trial balance. The second part explores the HR life cycle, explaining each stage's significance in talent management, with a focus on attraction, recruitment, onboarding, enablement, development, retention, and separation. A performance development plan is also presented, outlining training, evaluation, and comparison of performance. The report concludes by examining specific laws that hospitality businesses must comply with, such as the Licensing Act and the Equality Act, and how these laws affect business decisions. This report covers crucial elements of business operations, including financial management, human resources, and legal compliance within the hospitality sector.

The Hospitality
Business Toolkit

Table of Contents
INTRODUCTION......................................................................................................................3
MAIN BODY.............................................................................................................................3
Overview of the company......................................................................................................3
TASK 1......................................................................................................................................3
1.Examine the fundamentals of financial performance management and monitoring...........3
2. Use the debit and credit double entry accounting technique to record sales and purchases
in a general ledger..................................................................................................................4
3. Complete the ledger by creating a basic trial balance using the balance of rule................6
TASK 2......................................................................................................................................6
4 . explain phases of the HR life cycle as they apply to a given job position and its
significance in keeping and developing talent........................................................................6
5. Performance Development Plan.........................................................................................7
TASK 3......................................................................................................................................8
6. Specific laws with which a hospitality business must comply...........................................8
7. Using particular instances, demonstrate how a company's, employee's, and contract law
might affect business decisions in the hospitality sector........................................................8
TASK 4......................................................................................................................................9
CONCLUSION........................................................................................................................10
REFRENCES...........................................................................................................................11
Books and Journal................................................................................................................11

INTRODUCTION
Hospitality sector which has huge domain in the field which includes several services
like housing, event planning, food, and many more (Fridman, Napper, and Roberts, 2020).
The hospitality sector teachers use scope of the program in order to collect the more customer
base towards the organisation and make them more loyal towards the company. This report is
going to illustrate on the Lowry hotels which provide several services and also provide
accommodation and events for family gathering. This is going to illustrate about the
bookkeeping system of debit and credit in order to maintain the transaction of buying and
selling in the Ledger and general. The support also going to listed above the several stages of
life cycle and the significance of sustaining talent. Along with this this report illustrate about
the principles of management and evaluating the financial performance of the company
which has adopted by the company in order to improve and develop the skills of their worker.
Moreover there is an illustration about the performance management plan in order to
overcome the uncertainty of the organisation that are facing by them.
MAIN BODY
Overview of the company
The Lowry hotel is situated in United Kingdom and founded in 2001. It is a most
lavish and luxurious Hotel of Manchester and awarded winning awards.
TASK 1
1.Examine the fundamentals of financial performance management and monitoring.
Financial performance is there activity which defines as their subjective measure in
order to examine about the organisation that how they used appropriate and better assets by
their primary modes of the organisation in order to analyse the revenues which are generated.
There are various kinds of values and rules which provide appropriate direction to the
organisation in order to observe the financial performance of the company. Performance is
also support the organisation to get several advantages in order to decrease the expenditure
and financial accounts. The Lowry Hotel, that maintains the informant data in order to
maintain daily revenue of buying and selling of raw material. Each and every organisation are
required to manage their Assets and the funds in order to minimise the cost and money flow
which are observed by several kinds of financial statement. There are various kinds of roots
and values that are mentioned below:
 Preserving suitable record of stock this is the concept based on conserving
and introducing appropriate documentation of stocks in order to analyse the
revenues which are generated by the organisation. The record of stock
provides appropriate information to the Lowry hotel in order to identify the
wastage of the product during the retention procedure of the stock list.
 Construction key financial statement reports this value depends on
enhancement and developing the conclusion of the current financial
capabilities of the company . there are various current financial capabilities of

the organisation such as profit and loss balance sheet and many more
(Gasienica, 2020)(Gruss, Kim, and Abrahams, 2020). In context of the Lowry
hotel they are capable to illustrate several factors by conducting financial
statement reports in order to increase profitability and get better results.
2. Use the debit and credit double entry accounting technique to record sales and purchases in
a general ledger.
This is the Framework which are required to be match with the opposite account entry
and this is also known as double entry as credit in debit to stop the right side is known as the
credit side and the left side of the column is known as debit. These kinds of values and roles
in this framework like have separate entity.
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

3. Complete the ledger by creating a basic trial balance using the balance of rule.
Every ledger accounts of the organisation and registers and mention on the trial balance. The
trial balance statement, is conducting by the organisation in order to analyse about the
accounts.
TRIAL BALANCE
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
4 . explain phases of the HR life cycle as they apply to a given job position and its
significance in keeping and developing talent
Human resources management are very important for the organisation in order to
satisfy and retain the employees in the organisation (Lu, Mody, and Andajigarmaroudi,
2020). It is very important for the organisation to adopt human resources life cycle in order to
enhance their productivity and efficiency. There at several stages of human life cycle
included in the process which are mentioned below:
Attraction the employees are always searching for amended and potential job in
order to enhance their career. The Lowry Hotel recruit more amended and qualified
employees in order to get engraftment opportunities.

Recruitment this is also very amended task and difficult task for the organisation in
order to recruit more talented and high skilled employees in that Organisation in order to
enhance their opportunities and get more success.
On boarding in this stage the organisation and the human resources management
team identify about the potential criteria of the workplace the behaviour of the employees in
the work relation in order to allot the work according to their capability and skills. In the
context of the Lowry Hotel provide amended training and development program so that they
can improve their knowledge and skills.
Enablement this is a stage of life cycle measure about the organisation capabilities in
order to achieve the vision culture values and beliefs. Organisation are operating several
meetings and session in order to introduce corporate responsibilities and work relations
Development is the process which is associated to the growth and development of the
organisation. In this process the employees get the opportunities in order to develop their
skills so that they can get more positive outcomes (Zemnickis, Niedrite, and Kozmina, 2020).
Retention it is very important for the organisation to keep their employees and
gaining the trust of their employees in order to retain their employees in the organisation
(Ratten, and Dickson, 2020).
Separation This is the last step in which the employees get resignation and retirement
from the organisation. in this is type the responsibility and obligation of the human resources
team has been started in order to more about them happily from the organisation. The Lowry
Hotel provides several facilities to their retired workers in order to make them satisfied in
their journey.
5. Performance Development Plan
Performance management plan is a very important and amended strategy in order to
evaluate the performance of the employees in order to get success. It is very important and
helpful for the company to measure task products services and efficiency of their employees
in order to overcome the risk factors and get more positive outcomes. There are several stages
which are considered in performance Development Plan which are mentioned below
 Training and development in this stage the organisation conduct training and
development programmes in order to evaluate the performance and knowledge level
of their employees
 Evaluation of workers performance when the organisation has successfully done and
conduct training program then it is very important for them to evaluate the
performance of their employees by conducting some practical situation
 Comparison of the performance with the standards Lowry Hotel are required to
measure their employee performance according to the target and objectives which are
set by the company
Performance development plan for management trainee

Concerns
documentation
Workers
participation
Set purposes Preparation
encoded
Performance
review
There are several
issues which are
facing by the
company in order
to manage
employees and
consumer.
Effective
guidelines has
been provided
To enhance their
communication
and problem
solving skills
It is very
required for them
to take feedback
from their peers
After 3 months.
Several issues
facing when
dissolving the
problems of the
customer.
They trying to to
resolve the area
of mistakes in
order to engage
more employees
Identifying the
perception of the
consumer in
order to
overcome the
crisis
The manager of
the trainee will
required to
perform
effectively in the
hypothetical
situation
3 months
TASK 3
6. Specific laws with which a hospitality business must comply
There are several laws and rules are required to compile by the company in order to
operate in the Marketplace (Risteski, 2020). The Lowry Hotel measure and follow several
rules and regulation in order to adopt ethical practices in the organisation so that they can
ensure the safety and security of their employees at the workplace. There are several rules
and regulations which are adopted by the company are mentioned below
Licensing act 1964 this is the act in which the organisation are required to follow some rules
and regulation and take licence from the government in order to operate their business. As the
Lowry Hotel have several alcoholic beverages in their company so it is very required for
them to take permission and licence from the government in order to serve these beverages
Equality act 2010 this is the act which represent the equality between the employees in the
organisation. The organisation are followed ethical practices and the against discrimination
like caste gender age disability and many more.
Liquid Control Act 2003 this is the act which are compile by the government of United
Kingdom in order to take permissions regarding the late night refreshment and supervise
entertainment.
Health and safety act 1974 the organisation Lowry hotel followed this at in order to ensure
about the health and safety of their employees when they are operating at the workplace.
From this act the organisation feel secure and safe in order to contribute towards the
organisation.

7. Using particular instances, demonstrate how a company's, employee's, and contract law
might affect business decisions in the hospitality sector.
Every organisation is required to follow some ethical laws and legislation in order to
take decisions in the organisation. In the sector of hospitality, there are several laws and rules
which are followed by the Lowry hotel in order to get success and create positive in on their
working environment.
Employment law this is the law which explain about the employees who are operating in the
organisation and also represent the connection among the managers and employees of the
organisation (Seraphin, 2021). In the organisation the human resources manager as a sure
about the government legislation and ethical practices of an organisation are followed in
order to appropriate decision in context of their employees
Contract law, this is the law that is concerned by the legislation among more than two
parties and also represent several conditions and rules that are agreed by the both of the
parties. It is very important law in order to retain the interest of the stakeholders in the
organisation. In context of Lowry Hotel it is analysed that in order to conducts every
modification in the organisation activities they follow contract law so that they can overcome
the complications and uncertainty factors from the company.
Company law this is the law which caters appropriate code of conduct to the organisation in
order to followed appropriate policies in a very appropriate manner. In context of Lowry
hotel they adopt Company Law so that they can follow basic guidelines in order to operate
the business with ethical practices and take appropriate decisions accordingly.
For example
Amended and refrigerated food manufacturing organisations was punished because there to
Staff members who was harmed by some accident.
TASK 4
8. Examine the interrelationships between various hospitality-related functional roles.
In the hospitality sector it has been analysed that they are interconnected with several
kinds of roles and responsibility in order to assist employees and their customer and
communicate with them in a very appropriate manner. Front desk employment and cleaning
department are important features of the property because it creates several important impacts
on the experience of the user to stop it also guarantee that every corridor restaurant rooms
entrance and other areas are clean because it directly create impact on the personal interaction
with their guest. Investigation it has been analysed that their training department of the
Lowry Hotel inform that their front of this activities are doing their duties and responsibility
in a very appropriate in context of cleaning hygiene of the area . please all activity support
them to conduct their responsibilities in a very appropriate manner so that they can attract
more guess towards the organisation. These kinds of departments in the hospitality factors are
interrelated to each other (Shahini, 2020). As the food sector have a responsibility to prepare

hygienic and amended food stuff with fresh quality in order to promote their product and
food facility services. From the investigation it also has been examined that these kinds of
divisions are interconnected to each other because they all are provide several benefits to the
company so that they can get more success and increase their productivity in the Marketplace
9. Describe the numerous interaction, cooperation, and monitoring tactics employed by a
hospitality company's many departments to strengthen the supply chain.
There are several International collaboration and monitoring strategies which are
adopted by the organisation so that they can evaluate the supply chain management in the
organisation. There are several forms of communication like verbal communication social
network KPI and more which are adopted by the organisation so that they can monitor their
strategies in order to reinforce the supply chain (Yang, and Xin, 2020).
Organisation is using social media platform because it is very useful and amended platform
in order to communicate with their guest and identify their issues so that they can enhance
their productivity and solve their queries.
The organisation is selected communication social media networks in order to interact with
their customer. There are several way to communicate with their guests like verbal messages
emails video called chats. The Lowry Hotel mostly prefers video calls and email in order to
communicate with their guest in a very consistent manner. There are several more strategies
which are adopted by the organisation in order to solve the queries of their guest.
Moreover There are several kinds of community practices are formulated by the
organisation so that they can integrate diverse factors in a very amended Manna. It is very
amended and advantage genius for the business in order to conduct the several practices and
activities in the organisation.
 The organisation are using benchmarking because it help the company to inspire and
motivate their workers by providing positive and amended transition that help them to
to meet with the requirements of their guest in a particular time frame. It also support
them to enhance their effectiveness in order to overcome the challenges.
 The organisation are also using KPI’s because it was also very amended technique
which help the organisation to measure productivity and effectiveness of the
companies so that they can successfully analyse several activities and functions which
are operating in the organisation (Stewart, and Hocking, 2020).
From the above investigation it has been analysed that there are several coordination
interaction techniques which are adopted by the Lowry Hotel so that they can improve their
supply chain process

CONCLUSION
From the above mentioned report it has been analysed that hospitality sector provide
several services and facilities to their customer so that they can feel more relaxed and
comfortable. This report explains about the several fundamentals of monitoring and
managing financial results of the organisation so that they can evaluate their financial
stability. This report also explains about the trial balance and balance sheet in order to keep
track of sales and purchase transaction. Along with this there is a explanation about the life
cycle that help the organisation to retain and hire more talented employees in the workplace
in order to get more success. Along with this there is a discussion about the improvement
Strategies for the job function in order to to address appropriate information and overcome
the uncertainty and threats which are facing by them. Along with this there are which is
regarding to the laws and rules which are formulated by the government authority in order to
adopt ethical practices at the workplace so that they can operate their business without any
interaction and unethical practices

REFRENCES
Books and Journal
Fridman, I., Napper, R. and Roberts, S., 2020. Data co-synthesis in developing public product
service systems. CoDesign, 16(2), pp.171-187.
Gasienica, M.L., 2020. Human trafficking in the hospitality industry: Employee awareness,
beliefs and training.
Gruss, R., Kim, E. and Abrahams, A., 2020. Engaging restaurant customers on Facebook:
The power of belongingness appeals on social media. Journal of Hospitality &
Tourism Research, 44(2), pp.201-228.
Lu, L., Mody, M. and Andajigarmaroudi, S., 2020. Exploring guest response towards service
failure in home-sharing: service presence and consumption motivation. International
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Ratten, V. and Dickson, G., 2020. 3 Big data and business intelligence in sport. Statistical
Modelling and Sports Business Analytics, p.25.
Risteski, M., 2020. TOURIST VALORIZATION AS THE BASIS FOR MANAGING
TOURIST DESTINATIONS. International Journal Knowledge, 38(1), pp.257-263.
Seraphin, H., 2021. COVID-19 and the acknowledgement of children as stakeholders of the
tourism industry. Anatolia, 32(1), pp.152-156.
Shahini, R., 2020. Business Intelligence in the Hotel Industry.
Stewart, J. and Hocking, C., 2020. Adaptive Sustainability for Business in Times of
Uncertainty and Hyper Disruption. The Journal of Applied Business and
Economics, 22(12), pp.24-43.
Yang, Q. and Xin, C., 2020. Characterization of the complete chloroplast genome sequence
of Deutzia glabrata (Saxifragaceae). Mitochondrial DNA Part B, 5(1), pp.764-765.
Zemnickis, J., Niedrite, L. and Kozmina, N., 2020, June. A Little Bird Told Me: Discovering
KPIs from Twitter Data. In International Baltic Conference on Databases and
Information Systems (pp. 161-175). Springer, Cham.