Tourism and Hotel Administration Faculty launches its second MOOC

The course is open to the public and is free.

The first edition of the massive, open, and online course “Principles of Hotel Finance” had more than 500 enrollees in 38 countries. In its second edition, the course, designed by Tourism and Hotel Administration Faculty professors, seeks to offer more people the financial knowledge necessary to manage a hotel establishment.

Edna Rozo, Faculty Dean, emphasized that a course like this gives entrepreneurs and innovators in the hotel sector the foundation to “begin understanding and implementing accounting processes” in their business ideas. The acquired knowledge is also useful for those already working in the hotel industry.

According to the Dean, taking a course with these characteristics (massive, open, online, and free) is a virtuality proposal the Faculty makes to reach more people, nationally and internationally. Especially so, in the current context of the Colombian post-conflict, where the tourism sector is gaining more and more relevance.

Those taking this four-module course will learn the different information systems a hotel can have: customer service, reservations, revenue management, and client relationship management, among others. Additionally, the course provides an understanding of the need for these systems and the ways they interconnect.

Also, participants will be able to identify:

· The elements of the Uniform System of Accounts used in the hotel business (USALI eleventh edition).

· Income, costs, and expense accounts, allowing the understanding of different types and formats of financial statements and their proper interpretation.

· The elements of daily reports and their corresponding interpretation.

Language: Spanish

Professors:

· Adolfo Scheel, Director of Operations, GHL Hotel Group; author of books on hospitality financial management, and Externado de Colombia professor.

· Odra Vanegas, Tourism and Hotel Administration Faculty professor

· Edgar Blanco, Tourism and Hotel Administration Faculty professor

Course starting date: September 9, 2019

Course duration: 4 weeks

Previous knowledge required: None

Course Contents:

Module 1. Hotel financial and operational information system

Information systems and internal control

Information system for operational control and financial management

Financial statements and their incidence

Administrative and financial accounting

Module 2. Uniform System of Accounts for the Lodging Industry (USALI eleventh edition)

Basics for measuring hotel business results

Basic principles of results structure and their application

Establishment of responsibility centers and direct costs allocation

Module 3. Results status structure

Presentation of results for hotels

Departmental allocations

Module 4. Management reports

Daily report to management

Daily food and beverage report