Financial Planning and Controlling in Catering and Hotel Operation (A Case Study of Circular Hotel Limited, Ilorin)

TABLE OF CONTENT

Title page

Certification                                                                    i       

Dedication                                                                      ii

Acknowledgement                                                           iii

Table of content                                                              iv

CHAPTER ONE

1.0    Introduction                                                           1

1.1    Background of the study                                         1

1.2    Statement of the study                                           3

1.3    Objective of the study                                             4

1.4    Significance of the study                                         6

1.5    Research methodology                                            6

1.6    Research hypothesis                                               9

1.7    Plan of the study                                                   10

CHAPTER TWO

2.0    Literature review                                                     12

2.1    Market feasibility and fundamentals                         13

2.2    financial planning and control                                  15

2.3    Control ratio and variance analysis                           17

2.4    Budgeting and budgetary control                             19

2.5    Management of working capital                               21

2.6    Control of cost and costing                                      23

2.7    Capital structure in the hotel operation                    25

2.8    Management reporting                                            26

CHAPER THREE

3.0    Brief history of circular hotel limited Ilorin                29

3.1    Design of the study                                                 29

3.2    Source of data                                                        30

3.3    Source of data                                                        31

3.4    Limitation of the study                                            33

CHAPTER FOUR

4.0    Data presentation and source analysis                      36

4.1    Data presentation                                                   36

4.2    Data analysis                                                          40

4.3    Findings of the study                                              47

CHAPTER FIVE

5.0    Summary, conclusion and recommendation              50

5.1    Summary                                                                50

5.2    Conclusion                                                             52

5.3    Recommendation                                                    53

Bibliography                                                                55

Questionnaire                                                              56

CHAPTER ONE

1.0   INTRODUCTION

1.1   BACKGROUND OF THE STUDY

         Although we know that setting up hospitality industry in a prominent position in the Nigeria industrial league table with regard to the number of employees and annual turnover, in its present state, it is fairly of displeased original dating from the introduction of the regular mail coaches in the eighty century and developing, further during the colonial Era, with the advent of railway and their motor car which gave ordinary men the means of traveling easily than ever before. Whenever a person leaves this home for more than a few days, he has to seek hospitality from his kind elsewhere, it may be that he requires a meal because he is too far away to go home and eat. He may be staying away over night which will require a room and a bed. If a man goes to work in the morning and does not return until late in the night, unless he takes his won food and makes his own tend he will have his meal in a staff canteen of work or to the services he obtained, he will expected at home such as a smile and a welcome. “The view aim of a hospitality industry is pressing that of providing temporary substitute for home”