The Hotel Director of Finance job description is the document explaining the work that Director of Finance must perform when applying for this position.
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What’s the Hotel Director of Finance job?
As Hotel Director of Finance, you’ll direct hotel financial operations and ensure the security of hotel assets. Reporting on the financial state of hotel you’ll also make recommendations to improve hotel profitability. You’ll be the first point of contact for all hotel financial and accounting-related issues with owners, auditors (internal and external) and regulatory agencies.
Hotel Director of Finance job description
- Manage everyday activities, plan and assign work ensuring you always have the right staffing numbers
- Develop your team and improve their performance through coaching and feedback, and create performance and development goals – recognise good performance
- Train your team to make sure they deliver with compliance, to our standards and have the tools they need to work efficiently
- Recommend or initiate any HR elated actions where needed
- Direct the team on how decision-making impacts profits• Drive a great working environment for teams to thrive – connect departments to create sense of one team
- Implement and maintain acceptable accounting practices as required by company policy and procedures
- Ensure financial control procedures and systems are ethical and legal
- Participate in local recognised professional and industry organisations
- Manage hotel contracts (example: vendor leases and/or service contracts)
- Other ad-hoc duties – unexpected moments when we have to pull together to get a task done
- Use financial analysis, data trends and market information to anticipate needs, identify operating/financial issues, and recommend actions to maximise financial return
- Create the annual operating budget for the property and provide analytical support during budget reviews to identify cost saving and productivity opportunities for department heads
- Ensure all accounts are reconciled on a monthly basis and oversee the process of credit extension and collection of overdue accounts
- Review rates and recommend rate strategy to the General Manager; participate in sales strategy meetings
- Manage accounts payable to balance cash flow and reputation with suppliers
- Analyse ROI for capital projects prior to committing funds and, upon completion, determine if anticipated results were achieved
- Maximise cash flow performance of the hotel through controls on inventory (avoid excessive supply), credit and collection, disbursements, deposits and remittances
- Help guests – you’ll be happy to help if someone needs assistance with a request or complaint
- Ensure accounting practices, support the guest experience through payment options (e.g. credit card systems, room charges), inventory controls and financial dispute resolution
This is the top Accounting job in a large, luxury, or resort hotel. Typically supervises clerical accounting employees in a full range of functions such as Accounts Payable, Accounts Receivable, Credit/Collections, Purchasing, Audit, Payroll, and/or Accounting Operations.
Requirements for Hotel Director of Finance
- Bachelor’s degree / higher education qualification / equivalent in Accounting and Finance
- 4-8 years’ experience in hotel accounting or audit with at least one year in an Assistant Controller or similar supervisory role, or an equivalent combination of education and work-related experience
- Knowledge of accounting management duties e.g. negotiating hotel space and tenant leases; processing payroll; performing asset management duties; providing business projections, displacement analysis, preparing government reports, filing tax returns etc
- Professional accounting or finance designation or certification preferred.
- Must speak local language(s). Other languages preferred