Dr. Lynn Staley
Business Writing Section 001
14 May 2009
Hotel and Lodging Career Research
For financial and accounting college graduate seeking a career in Hotel and Lodging Industry
Fig1. Five Star Concierge Service LLC. 30 April. 2009.
With high curiosity and interest in many fields, I have changed my career goal from archaeology to science then to architecture and finally to entrepreneurship in hospitality and traveling. In preparation for launching my own business, I determined to learn more about the hotel and lodging industry through a financial and accounting position. A hotel is an establishment that provides temporary accommodation and various services depending on the rate per night a customer can afford. Nowadays, as customers’ needs and affordability vary, hotel and lodging facilities could be classified into multiple levels of definitions based on economic structure, price, chain scale, location, room configuration or market served. A large hotel with full service often comprises many departments with specialized employees. A General Manager leads the main operating departments which consist of Room, Security, Food and Beverage and Minor Services. The administrative departments of a hotel are Accounting, Engineering and Marketing and Sales. As of 2007, in the US, there are approximately 49 thousand hotels and lodging properties that have over 15 rooms, providing about 4.5 million guest rooms and generating 139.4 billion dollars in revenue. The U.S hotel and lodging industry employs about 1.4 million workers and serves both business and leisure travelers. International travelers make up 22% of lodging room occupants. In the current economic downturn that started in late 2007, decreases in both traveling and financing has pulled earnings of hotels in the US down by 11.6% in occupancy rate, 8.6% in average daily rate, and 19.1% in revenue per available room, leaving the industry in a struggle to attract customers and provide jobs for their employees. A typical entry-level administrative position in a hotel requires a four-year bachelor’s degree in a business related major. Other desirable traits for candidates are leadership skills, communications skills, confidence, and more. There are few administrative positions in the current hotel and lodging industry that college graduates can obtain, but they are exciting jobs that promise quick advancement, relocation opportunities, and even room rate discounts for associates. Financial and accounting positions in the hotel industry include Assistant Controller, Senior Assistant Controller, and Director of Finance and Accounting. Assistant Controllers and Senior Assistant Controllers work at the daily operating level and assist the Director of Finance and Accounting in making decisions. Directors of Finances and Accounting work at strategic decision making and are members of the executive committee of the hotel, overseeing the health of the hotel in general. With leadership skills, communication skills and by going beyond the expected and being willing to relocate, a new college graduate could advance quickly in the hotel industry.
The knowledge I will gain from working in hotel and lodging industry will prepare me to launch my own lodging business. From myriad interest to a focus on hospitality
With a high level of curiosity and thousands of questions in mind, I have been an explorer since I was small. By the time I was 10, I decided to discover the secrets of the world by becoming an archaeologist, who travels to different places and digs things up all day. Before I thought further about digging around, however, I became captivated by Thomas Alva Edison – the genius inventor with thousands of inventions. My hope for becoming an inventor was so high that I started to study really hard in order to understand more about natural science. For two years, I kept my enthusiasm, but the attraction for...