Hospitality Purchasing, Cost Control and Risk Management

Course Code: HOTL 218

Academic Year: 2022-2023

This course is designed to provide students with the knowledge and skills necessary to move into a supervisory or management position in the hospitality industry. This course focuses on the purchasing process, cost controls and risk management, all of which are important to the successful operation of a hospitality operation. Managing operating costs such as food, beverage, labour and other costs, requires complete understanding of several processes and control mechanisms that directly impact the profitability of an operation. Strategies on how to control operational costs while identifying opportunities to maximize revenues will be an integral part of the course. Students will have the opportunity to explain, recognize, and build pans to avoid potential risks related to legal/regulatory, financial, business/strategy, reputational, market, and information technology risks within the hospitality industry. Implementing cost control strategies and building a comprehensive Risk Management Plan will allow students to apply knowledge and problem-solving techniques through case studies and simulation scenarios.