Managerial Competencies for U.K. Hotel Financial Controllers: Are They Hospitality Managers or Accountants?

Abstract

ABSTRACT This article aimed to identify the key managerial competencies required of hotel financial controllers and the importance of hospitality experience to their roles. Data from a longitudinal study of hotel financial controllers have been analyzed, gathered using a content analysis of job advertisements, a survey of U.K. hotel financial controllers and interviews with key financial managers. Using a grounded theory approach, the findings show that although there are many similarities with the generic accounting profession, the hotel finance role is unique. Their experience combining with hospitality management competencies to support operational managers. Their understanding of the complexity of the operation, in a dynamic and perishable environment, enables hotel financial controllers to act as business advisors to other managers, thereby enhancing profitability on behalf of stakeholders. Implications for industry include (a) the need for further promotion of hospitality finance as a valid career and (b) the importance of recruiting managers with experience of this distinctive industry context.