THE METHOD OF IMPLEMENTING INTERNAL CONTROL OF HOTEL BUSINESS COSTS: THEORY AND PRACTICE

Abstract

In modern conditions, when competition in the hospitality industry is growing, and customers are de- manding quality for an adequate price, the effectiveness of cost control in the hotel business is becoming critical. The article is devoted to the problems of improving the methods of internal cost control at hotel enterprises. In conditions of increased competition and instability of the market environment, effective cost management is a key factor in ensuring financial stability and increasing the profitability of hotel enterprises. The article analyzes the theoretical foundations and existing approaches to organizing internal cost control, reveals its specific features in the hotel business, which exists due to the complexity and multifaceted nature of production processes, the variety of types of services, seasonality and other factors. The author proposes a comprehensive method for internal cost control, which is based on a systemic approach and covers all stages of the managerial cycle: planning, accounting, analysis and efficiency assessment. Par- ticular attention is paid to the use of modern information technologies, in particular automated accounting and control systems, which open up opportunities for obtaining reliable information about costs. The practical value of the study lies in the development of specific recommendations for the implementation of the proposed method in the activities of hotel enterprises. The proposed measures, in particular, the detailing of cost accounting by responsibility centers, the use of budgeting and analysis of deviations, will allow management to make sound managerial decisions aimed at op- timizing costs and increasing the efficiency of activities. The implementation of the proposed method for internal cost control will allow hotel enterprises not only to effectively manage financial flows, but also to significantly increase their profitability.