Financial Controller - Hospitality

Financial Controller

- Financial Reporting: Prepare and oversee the preparation of financial statements, budgets, and forecasts. Ensure that financial reports are accurate, timely, and compliant with accounting standards and regulations.

- Budgeting and Forecasting: Develop and monitor the hotel's annual budget, working closely with various departments to ensure that spending aligns with revenue projections. Continuously update and adjust forecasts based on actual performance.

- Cost Control: Implement cost control measures to manage expenses in various areas of the hotel, such as labor, supplies, and utilities. Identify cost-saving opportunities and monitor adherence to budgeted expenses.

- Revenue Management: Collaborate with the sales and marketing teams to optimize room rates, packages, and promotions to maximize revenue. Monitor pricing strategies and adjust as needed to meet occupancy and revenue targets.

- Financial Analysis: Conduct financial analysis to identify trends, opportunities, and areas of improvement. Provide recommendations to senior management based on data-driven insights.

- Internal Controls: Establish and maintain internal controls to safeguard the hotel's assets and prevent financial irregularities or fraud. Ensure compliance with company policies and legal requirements.

- Cash Flow Management: Monitor cash flow to ensure that the hotel has sufficient liquidity to cover operational expenses, debt obligations, and capital investments. Manage banking relationships and optimize cash positions.

- Tax Compliance: Ensure compliance with local, state, and federal tax regulations. Coordinate with external tax advisors to minimize tax liabilities while remaining compliant.

- Auditing: Coordinate annual financial audits with external auditors. Provide necessary documentation and explanations during the audit process to ensure a smooth and accurate audit.

- Financial Planning and Strategy: Work with senior management to develop long-term financial strategies that support the hotel's growth and profitability goals. Evaluate potential investment opportunities and make recommendations.

- Vendor and Supplier Management: Negotiate contracts with vendors and suppliers to obtain favorable terms and pricing. Monitor supplier performance and seek cost-effective alternatives when necessary.

- Team Leadership: Supervise and lead the finance team, including accountants, financial analysts, and clerical staff. Provide guidance, training, and mentorship to ensure a high level of performance and accountability.

- Risk Management: Identify and assess financial risks, such as currency exchange rate fluctuations, interest rate risks, and economic downturns. Develop strategies to mitigate these risks.

- Regulatory Compliance: Stay up-to-date with industry regulations and changes in accounting standards. Ensure that the hotel complies with all financial and legal requirements.

- Technology and Systems: Implement and maintain financial systems and software to streamline processes and improve reporting capabilities. Ensure data security and integrity.