HOSPA – the Hospitality Finance, Revenue Management, Asset Management, Marketing and IT Professionals Association – is delighted to announce that it has successfully secured a grant from the Savoy Educational Trust, with additional investment from HOSPA, to develop an eBook in Hospitality Financial Management Practice.
The guide is set to focus on the key principles that characterise the practice of management accounting in the industry.
With hospitality witnessing an increase in accounting professionals entering the sector from other industries, the guide will serve as a support tool for their induction and onboarding, helping to familiarise them with the specifics of the sector. Particular guidance will focus on the report formats and the performance measures commonly used, which are based on the recommendations of the Uniform System of Accounts for the Lodging Industry.
This follows in the footsteps of the highly acclaimed HOSPA Revenue Management eBook, also funded by the Savoy Educational Trust, which has been used extensively by practitioners and academics following its launch in 2012. The funding will be used to:
~ Develop the eBook content which will be freely available to the sector via the HOSPA website
~ Provide a tutors’ resource for use in the hospitality education sector in universities, colleges and schools
~ Include content relating to careers and professional development as well as financial material
Commenting on the Savoy Educational Trust award, HOSPA Head of Professional Development and principal at arena4finance, Debra Adams said: “We are greatly indebted to the Savoy Educational Trust for their generosity in supporting HOSPA’s determination to provide leading edge resources to underpin these niche areas in the hospitality industry. Our aim is to not only provide a resource for the sector but to widen the access of the eBook and the work of HOSPA to a more diverse audience across the hospitality industry. Additionally, we hope that this resource will prove useful to the world of hospitality education with the inclusion of examples and scenarios to be used in teaching.”
For more information on the Finance Management and Revenue Management Programmes and how to enrol, please visit the HOSPA website: https://www.hospa.org/education
For further information, please contact:
HOSPA (Hospitality Professionals Association for Finance, Revenue Management, Asset Management, Marketing and IT) is a non-profit educational organisation, formed to bring together those hospitality industry professionals involved in Financial Management, Revenue Management, Marketing and IT.
Not only is HOSPA recognised as the UK’s authoritative voice in the hospitality industry on financial management, technical accounting issues and hotel valuation, but also as the leading arena for debate on hotel technology developments, Revenue Management, Asset Management and marketing. HOSPA’s Professional Development Programmes in Revenue Management and Financial Management provide rigorous and relevant education for all those seeking to further their careers in these important functions.
A regular programme of workshops and seminars provide the perfect opportunity for members to continue to develop their knowledge and network with colleagues. HOSPA is on all major Social Media channels, including Twitter on @HOSPATweets
For more information, visit: www.hospa.org
About the Savoy Educational Trust
The Savoy Educational Trust is an independent, grant giving charitable trust established in 1961 whose main aim is to advance and develop education, training and qualifications within the hospitality industry. In order to fulfil this aim and help meet the current and future skills needs of an industry that is a major employer and contributor to the UK economy, the Trustees award grants for a variety of hospitality-related projects to educational establishments, trade associations, charitable organisations/social enterprises, and individuals. For more information visit www.savoyeducationaltrust.org.uk or please contact Margaret Georgiou, Trust Administrator, on 0207 849 3001, email:firstname.lastname@example.org
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