Hotel Finance Manager

Reporting to the Director of Finance, the Hotel Finance Manager is responsible for overseeing all financial operations of the hotel, ensuring accurate financial reporting, budgeting, and forecasting. This role is critical in ensuring financial compliance, driving cost efficiency, managing cash flow, and safeguarding the financial integrity of the hotel’s operations. The ideal candidate will have a strong background in finance and accounting, coupled with experience in the hospitality industry.

Key Responsibilities:

Financial Planning, Budgeting, and Forecasting

• Develop, implement, and manage the hotel’s annual budget in collaboration with the Director of Finance and other department heads.
• Prepare accurate monthly and quarterly financial forecasts, comparing actual results with projections and analyzing variances to improve financial performance.

Financial Reporting and Compliance

• Prepare and present monthly financial statements, P&L reports, balance sheets, and cash flow statements, ensuring accuracy and compliance with local regulations, company policies, and industry standards.
• Ensure timely submission of financial reports to senior management, ownership, and relevant regulatory bodies.
• Manage internal and external audits, ensuring financial practices comply with all legal requirements and company policies.

Cash Flow and Working Capital Management

• Monitor and manage the hotel’s cash flow to maintain healthy liquidity, ensuring all financial obligations are met on time.
• Oversee accounts payable and receivable processes, monitoring collections and payments to optimize working capital.

Cost Control and Expense Management

• Implement and monitor effective cost-control measures across all departments, ensuring adherence to budgetary guidelines.
• Conduct regular financial analyses, identifying areas for cost savings and increased efficiency without compromising guest satisfaction or service quality.
• Review and approve purchase requests, ensuring alignment with budget and operational priorities.

Internal Controls and Risk Management

• Establish and enforce internal financial controls to protect hotel assets, prevent fraud, and ensure accurate financial reporting.
• Conduct regular financial risk assessments, implementing measures to mitigate risks and protect the hotel’s financial integrity.
• Ensure compliance with industry regulations, tax laws, and financial best practices to minimize risk exposure.

Team Leadership and Development

• Manage, mentor, and develop the finance and accounting team, fostering a culture of accountability, accuracy, and continuous improvement.
• Conduct performance evaluations, identify training needs, and provide opportunities for professional growth.
• Promote collaboration with other departments, building cross-functional relationships to support financial planning and operational success.

System Management and Process Improvement

• Oversee the hotel’s financial systems, including accounting software, payroll systems, and property management systems (PMS), ensuring accurate data entry and reporting.
• Identify and implement process improvements to enhance the efficiency and effectiveness of financial operations.
• Stay updated on financial technologies and tools to optimize reporting, budgeting, and analysis capabilities.

Other Responsibilities

• Liaise with external stakeholders such as banks, auditors, tax advisors, and regulatory agencies, managing relationships to ensure effective communication and compliance.
• Perform additional duties and responsibilities as required by the Director of Finance or General Manager, contributing to the hotel’s overall financial health and strategic objectives.

Job Requirements

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
• Minimum of 5 years of finance experience, with at least 2 years in a supervisory role within the hospitality industry.
• Strong understanding of financial and accounting principles, with expertise in budgeting, forecasting, and financial reporting.
• Proficiency in financial software, including accounting and property management systems (e.g., Opera, SAP, or similar systems).
• Excellent analytical and problem-solving skills, with the ability to interpret financial data and make sound recommendations.
• High level of accuracy, attention to detail, and integrity in handling financial information.
• Exceptional organizational and time-management skills, with the ability to manage multiple priorities and deadlines.
• Strong interpersonal and communication skills, with the ability to work collaboratively across departments and lead a team.
• Knowledge of tax laws, regulations, and compliance requirements relevant to the hospitality industry.