1. Manage Budgets
There can’t be a business to run if the money isn’t there. Whatever the business is, managing any hospitality operation is a complex position that requires overseeing several departments within its organization. All of these sub-departments have budgets allocated to them. It is the Hospitality Manager’s job to disperse enough money to these departments that will ensure an efficient workflow toward the overall goal of the company. Two major responsibilities are marketing and approving/controlling expenditures.
Marketing is yet another important task that a Hospitality Manager must oversee. In order for a hotel, cruise line, restaurant, country clubs, and amusement park to thrive, they must let people know they exist!
Planning and strategizing smart marketing projects mean nothing without the money to support it. Everything from advertisements, sales plans, investing in signs, banners, community involvement, even down to the business cards and customized marketing trinkets all need to be taken into consideration when managing a marketing budget.
- Approve/Controlling Expenditures
Every department within a hospitality organization has a need. Even with the most generous budget, all financial needs cannot always be met. However, if there weren’t a Hospitality Manager to oversee these needs, most operations would go bankrupt.
The Hospitality Manager needs to be aware of all the expenses. Even though they have already allocated a set budget, they also need to know how each department is spending their allowance. This way, he or she can access and re-access if these funds are being spent efficiently and if not, re-access the overall budget.