Budgeting in Hospitality Industry – An Overview
Budgeting is the technique of determining how much money a person or entity has available for the upcoming period, so that it can be used optimally. Budgeting is a critical activity in most organizations, especially in hospitality industry. Hospitality industry is a business that involves many things including acting as a service provider, managing the needs and wishes of customers, taking care of guests in hotels or catering equipment, making arrangements for rooms and providing food. Hotel Management Company in India look at the budgeting process like any other business activity. If you want to be successful, then you should have a detailed understanding of this process so that you can make timely decisions and ensure that your company obtains the best results possible. Budgeting is a critical part of any business. It's the basis for how you stay financially solvent on a day-to-day basis and how you allocate your resources to make sure that your business continues to grow and su