HOSPA – the Hospitality Finance, Revenue Management, Marketing and IT Professionals Association – is delighted to announce that its hospitality focused Professional Development Programmes in Financial Management and Revenue Management have been reviewed by People 1st and will receive the charity’s prestigious Quality Mark approval for the period 2016-2018.
The Quality Marks are awarded by People 1st – the skills and workforce development charity for employers in the hospitality, tourism, leisure, travel, passenger transport and retail industries – based on a thorough review of the design and content of training programmes, taking into account how they will help individuals contribute to the overall improvement of the sector’s skills and standards.
In addition, HOSPA’s course in Financial Management has been reviewed by the Chartered Institute of Management Accountants (CIMA), in light of the forthcoming launch of the 2017 syllabus for the CIMA Certificate in Business Accounting (Cert BA) – CIMA’s entry level qualification (CGMA). This can be taken as a stand-alone qualification, whilst offering a route to becoming a Chartered Global Management Accountant (CGMA). The 2017 syllabus will commence on 11 January; and it has been confirmed that HOSPA’s Financial Management graduates will continue to receive exemptions from two components of the CIMA Certificate in Business Accounting. These are BA2: Fundamentals of Management Accounting (following successful completion of HOSPA’s Financial Management Stage 2 in Operational Management Accounting and Stage 3 in Strategic Management Accounting); and BA3: Fundamental Financial Accounting (after completing HOSPA’s Financial Management Stage 1: Introduction to Financial Accounting).
Commenting on the People 1st award and continued CIMA recognition, HOSPA Head of Professional Development Debra Adams said: “We are honoured and thrilled that our Professional Development Programmes have received such important recognition from two such influential and august organisations as People 1st and CIMA. This is tremendous news for the Association and our graduates, giving them the level of professional recognition and range of qualification opportunities required to confirm they have the skills and knowledge for pursuing a successful career in hospitality finance or Revenue Management.”
HOSPA Chief Executive Jane Pendlebury added: “This much valued recognition by People 1st and CIMA is the latest achievements in a year of great progress for our Professional Development Services. This follows the announcement in March that the Association had successfully secured funding from the Savoy Educational Trust, matched by investment from HOSPA, to further the development of our Revenue Management courses. The grant has enabled us to update and reposition our current Revenue Management programme – enabling the individual units, within the online programme’s three levels, to be studied from 2017 in a modular format. This, in turn, is making the course more flexible – providing greater accessibility to a wider audience.
“The grant has also supported the updating of our highly acclaimed Revenue Management ebook, which has been used extensively by practitioners and academics following its initial launch in 2012.”
The traditionally popular HOSPA course in Financial Management provides a first step in pursuing a career in business and finance in the hospitality sector. The course is based on best practice in the sector and follows the guidance and recommendations of the Uniform System of Accounts for the Lodging Industry (2014 edition). It offers three levels of study and successful completion of all three levels leads to Certified Associate Membership of HOSPA.
In 2011, HOSPA introduced its hospitality focused Professional Development Programme in Revenue Management. Written by leading educators in Revenue Management in the hospitality sector, in conjunction with leading industry experts, the course is designed to provide Revenue Managers of the future with the skills and knowledge required to manage their divisions, as well as to provide non-revenue personnel with a detailed knowledge of the function within a hospitality property.
For further information about the range of professional development opportunities offered by HOSPA, visit: www.hospa.org/education; or email: education@hospa.org ; or visit LinkedIn: www.hospa.org/linkedin/ ; or telephone: +44 (0) 1202 889 430.
