Cost Controller

Role Overview: As the Cost Controller at Fairmont Udaipur Palace, 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 the hotel costs regularly, 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. Qualifications: - Bachelor's 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.,