Hotel Cost Control Officer at Lorache Consulting Limited

Job Title: Hotel Cost Control Officer

Summary

• A Cost Controller in hotel is responsible for closely monitoring and managing all operational expenses across different departments, including food & beverage, rooms, and administrative costs, by analyzing financial data, identifying areas for cost reduction, and implementing strategies to ensure the hotel operates within budget while maintaining quality standards; their key tasks include inventory control, purchase order verification, cost reporting, and collaborating with department heads to optimize spending and maximize profitability.

Key Responsibilities

• Financial Monitoring:
  • Regularly review and analyze departmental cost reports, comparing actual expenses against budgeted amounts to identify variances and potential cost overruns
  • Track inventory levels across all departments, including food, beverage, supplies, and linen, to minimize waste and loss, Conduct periodic physical inventory counts to verify stock accuracy,
  • Monitor and control purchasing activities by reviewing purchase orders and invoices for accuracy and compliance with established guidelines.
• Cost Control Strategies:
  • Implement cost-saving initiatives based on analysis, such as negotiating better supplier prices, optimizing food portion sizes, and reducing energy consumption,
  • Develop and maintain standard operating procedures (SOPs) for all departments to ensure efficient operations and cost control measures,
  • Analyze food and beverage cost percentages to identify areas for improvement and implement recipe standardization.
• Reporting and Analysis:
  • Prepare detailed cost reports for management, highlighting key performance indicators (KPIs) like cost of goods sold (COGS), labor costs, and overall profitability,
  • Analyze trends and identify areas of concern, providing actionable insights to department heads to address potential cost issues,
  • Forecast future costs based on historical data and current market trends.
• Collaboration and Training:
  • Work closely with department heads to educate them on cost control practices and set departmental budgets, conduct regular training sessions for staff on proper inventory management, cost-conscious purchasing, and waste reduction,
  • Liaise with the hotel’s accounting department to ensure accurate financial reporting.
• Able to effectively control the Food & Beverage Cost.
• Control the Food and Beverage outlets in terms of wastage, pilferage and efficiency.
• Prepare variance analysis for food & beverage and communicating with relevant parties.
• Update and maintain receipts into the systems (FMC).
• Check and verify voids in the POS systems.
• Check and verify discounts on the POS systems.
• Check and verify any happy hours discounts.
• Check and verify all complimentary sales in POS systems.
• Check and verify all staff meals and staff discounts.
• Check and verify all Package meals.
• Check and verify all settlements done on the POS system.
• Check and cross verify if all sales have been transferred correctly to the Property Management systems (PMS).
• Check and verify for any lost postings.
• Check the cost of sales in all F&B outlets and ensure that the costs are within budget.
• Check the menu pricing on the POS systems and ensure the correct prices are loaded.
• Check the restaurant and bar checks on daily.
• Check the complimentary and confirm that all are approved.
• Daily Import of Micros Sales to Materials Control system.
• Tally all end of shift reports generated from all POS tills.
• Continuously study weaknesses in F&B control implemented at the Hotel and provide suggestions for improvements.
• Check the daily Food & Beverage revenues report submitted by the income audit for the accuracy of covers and average check.
• Responsible for linking the articles and Recipes in Material Control.
• Responsible for preparing daily Food and Beverage Report and distribute to management.
• Responsible for monthly F&B Report and distribute to management.
• Responsible for surprise spot checks at all F&B outlets.
• Prepare Duty Drinks and management report and confirm that this is as per entitlement.
• Prepare the daily and monthly cost report department in relation to cost of sales.
• Prepare daily staff meal cost report.
• Participate in stock taking at the restaurants.
• Spot check on the receiving department to ensure that the scales are correct and goods are checked for quality.
• Check and ensure that no material is issued out from the store without requisition or approval from the respective department head.
• Check and ensure all menu items have a recipe.
• Coordinate with restaurant management and finance to sort out issues pertaining to F&B.
• Update selling prices in POS as per the instruction from authorized persons.
• Maintain the security of the information held by the department.
• Responsible to maintain the Menu Pricing, Consumption and POS s

Qualifications

• A Bachelor’s Degree in Accounting, Finance, or Economic, often accompanied by professional certifications like the Institute of chartered Accountants of Nigeria (ICAN) OF Association of Chartered Certified Accountants (ACCA)
• Experience: 5 years’ experience in similar roles in related industries (Cost Control & Hospitality)
• Business and Industry Knowledge

Required Skills:

• Strong analytical and problem-solving skills to identify cost-saving opportunities
• Excellent financial acumen and understanding of accounting principles
• Proficient in Microsoft Office applications, especially Excel, for data analysis and reporting
• Attention to detail and ability to maintain accurate records
• Excellent communication skills to effectively collaborate with different departments

Salary
N120,000 monthly.

Application Instructions:

The application deadline is Not Specified. Therefore, qualified and interested candidates should send their CV to:   [email protected] using the Job Title as the subject of the mail.