Cost Controller

Company Description

Your Fairmont Journey Starts Here:

Are you a someone with a passion for excellence and a flair for exceptional hospitality? Fairmont Udaipur Palace invites you to embark on an unforgettable journey of luxury and join our pre-opening team.

Job Description

As the Cost Controller, you will play a crucial role in ensuring the efficient management of food and beverage costs, monitoring inventory levels, analyzing cost variances, implementing cost-saving initiatives, and optimizing profitability while maintaining high-quality standards in hotel operations.

Key Responsibilities

• Inventory Management: Oversee the procurement, storage, and issuance of food and beverage inventory to ensure adequate stock levels while minimizing waste and spoilage.
• Cost Analysis: Analyze te hotel costs on a regular basis, including ingredient costs, portion sizes, menu prices, and sales trends, to identify variances and opportunities for cost optimization.
• Budgeting and Forecasting: Assist in the development of annual budgets and financial forecasts for food and beverage operations, including revenue projections, cost projections, and profit margins.
• Menu Engineering: Collaborate with the culinary team and food and beverage managers to develop menus that balance profitability with guest satisfaction, taking into account ingredient costs, pricing strategies, and menu engineering principles.
• Vendor Management: Negotiate favorable terms with suppliers and vendors to secure competitive pricing, quality products, and timely deliveries, while maintaining strong vendor relationships.
• Internal Controls: Establish and enforce internal controls and procedures for food and beverage procurement, storage, and disbursement to prevent theft, shrinkage, and unauthorized use of inventory.
• Cost Saving Initiatives: Identify opportunities for cost-saving initiatives, such as portion control measures, inventory optimization, waste reduction strategies, and energy-saving practices, to improve profitability.
• Reporting and Analysis: Prepare regular reports and analysis on food and beverage costs, inventory levels, sales performance, and profitability metrics for management review and decision-making.
• Training and Education: Conduct training sessions for food and beverage staff on cost control best practices, inventory management techniques, and compliance with standard operating procedures.
  
  

• Bachelors degree in Hospitality Management, Finance, Accounting, or related field; Certified Hospitality Accountant Executive (CHAE) certification preferred.
• Minimum of 3 years of experience in a similar role, preferably in the hospitality industry with a focus on food and beverage cost control.
• Strong analytical skills with the ability to interpret financial data, analyze cost variances, and develop actionable insights.
• Proficiency in inventory management systems, financial software, and Microsoft Excel.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
• Detail-oriented with a strong focus on accuracy and precision in financial calculations and reporting.