The hospitality industry consists of broad category of fields within the service industry that includes lodging, restaurants,

event planning, theme parks, transportation, cruise line, and additional fields within the tourism industry. The hospitality industry is a several billion dollar industry that mostly depends on the availability of leisure time and disposable income. A hospitality unit such as a restaurant, hotel, or even an amusement park consists of multiple groups such as facility maintenance, direct operations (servers, housekeepers, porters, kitchen workers, bartenders, etc.), management, marketing, and human resources.

Accommodations

Hostels Hotels Motels

Restaurants & Bars

Cafes Nightclubs Public houses Restaurants

Travel and Tourism

Airline Cabin Staff Travel agents

ASSET LIGHT STRATERGY

Leela to sell Kovalam hotel for Rs 500 cr

17 Aug 2011, 1955 hrs IST, AGENCIES

Hotel Leelaventure Ltd on Wednesday (August 17) said it will sell its luxury hotel property in Kovalam, Kerala to Travancore Enterprises Pvt Ltd (TEPL) for Rs 500 crore, in an effort to reduce its debt. The sale will be structured in such a manner that Leelaventure will transfer the hotel undertaking to a subsidiary special purpose vehicle (SPV), which will be then acquired fully by TEPL. "...pursuant to such transfer of undertaking to the SPV, TEPL shall acquire 100 per cent of the shares of such SPV from Leela for a total cash consideration of Rs 500 crore," Leelaventure said in a filing to the Bombay Stock Exchange. Leelaventure said the deal is pursuant to the decision of the Board of Directors to pursue an 'Asset Light Strategy' to reduce its debt. The company's debt is currently estimated at Rs 3,950 crore. It has been looking to raise funds through sale of land and promoter equity to repay debt. The hospitality chain has been holding talks with 2-3 private equity players to raise up to Rs 600 crore. In May this year, the company's board has also approved fund raising of up to Rs 1,000 crore by way of qualified institutional placement, FCCB and others. .

Cost controls: According to kohler cost control represents the employment of management devices in the performance of any nessecerry operation so that pre-establesihed objective of the quality, quantity and time may be attained at the lowest possible outlay for goods and services.

Better and economic use of men, machine and money Optimum level of productivity.

Reasonable price

Better standing in competitive market

Optimum level of quality

Increase exports more foreign earnings

Optimum probability

Optimum return on capital employed

Optimum return on shareholders fund

Confidence in investors, better chance for expansion, economic stability, increased credit worthyness

Hospitality costing
Prime cost Overheads cost Land Acquisitions Food & Beverages Expenses Marketing & Advertising Expenses

Cost management- mr ravi kishore Cost accounting- Mr prabhu dev Cost accounting-jawahar Lal Elements of costing-M.E.thukkaram rao