Course Code: TOUR 3550
Academic Year: 2021-2022
This course addresses the strategic issues related to the management of food and beverage (F&B) operations in restaurants, hotels, catering companies, cruise lines, convention centres and tourist attractions. Students will study the importance of proper controls and procedures in purchasing, receiving, menu development and pricing on the profitability of an operation. Analytical tools, such as menu engineering that involves the relationship between popularity and profitability of menu items, will examined. Key performance indicators such as average check, contribution margin and prime cost ratios will be addressed. Students will interpret results and will make recommendations to maximize the revenue and profitability opportunities by examining case studies drawn from the various F&B sectors. Sensitivity analysis involving key drivers that affect the income statement of these operations will be utilized. Purchasing and procurement processes will be examined, and their impacts on the financial performance of an operation will be assessed. Students will have the opportunity to earn internationally recognized certifications in various non-credit courses, including beer, wine, mixology and SmartServe, that will be offered as online and/or as one-day seminar formats.