Title page

Certification i  

Dedication ii

Acknowledgement iii

Table of content iv


1.0 Introduction 1

1.1 Background of the study 1

1.2 Statement of the study 3

1.3 Objective of the study 4

1.4 Significance of the study 6

1.5 Research methodology 6 

1.6 Research hypothesis 9

1.7 Plan of the study 10


2.0 Literature review 12 

2.1 Market feasibility and fundamentals 13

2.2 financial planning and control 15

2.3 Control ratio and variance analysis 17

2.4 Budgeting and budgetary control 19

2.5 Management of working capital 21

2.6 Control of cost and costing 23 

2.7 Capital structure in the hotel operation 25 

2.8 Management reporting 26 


3.0 Brief history of circular hotel limited Ilorin 29 

3.1 Design of the study 29 

3.2 Source of data 30

3.3 Source of data 31 

3.4 Limitation of the study 33


4.0 Data presentation and source analysis 36 

4.1 Data presentation 36 

4.2 Data analysis 40

4.3 Findings of the study 47


5.0 Summary, conclusion and recommendation 50 

5.1 Summary 50 

5.2 Conclusion 52 

5.3 Recommendation 53

Bibliography 55

Questionnaire 56 




Although we know that setting up hospitality industry in a prominent position in the Nigeria industrial league table with regard to the number of employees and annual turnover, in its present state, it is fairly of displeased original dating from the introduction of the regular mail coaches in the eighty century and developing, further during the colonial Era, with the advent of railway and their motor car which gave ordinary men the means of traveling easily than ever before. 

Whenever a person leaves this home for more than a few days, he has to seek hospitality from his kind elsewhere, it may be that he requires a meal because he is too far away to go home and eat. He may be staying away over night which will require a room and a bed. If a man goes to work in the morning and does not return until late in the night, unless he takes his won food and makes his own tend he will have his meal in a staff canteen of work or to the services he obtained, he will expected at home such as a smile and a welcome. “The view aim of a hospitality industry is pressing that of providing temporary substitute for home” 

There had certainly been hotels since biblical times and no doubt before, and all the eastern regions at least enjoy providing travelers, an obligation which has continued up to date. This was even supported by the legal requirement of the United Kingdom (UK). Hotel proprietors acts of 1958 history in several king garages and some terms come and go in popularity from time to time. The two main roots appear to be Latin and German.

Hospital is a Latin word which means a place for quest while her Bergen is German work which means to hide shelter. 


Hotel and catering establishment play a major role in the tourism industry in Nigeria just a the volume of sales of the various individual, catering establishment depends to some extents on the level of efficient management of the financial resources and their level of prices if hotel are to continue in making substantial contribution to the earning of foreign exchange, it must be consigns of the core of financial planning and control of certain aid, hotel establishment and carryout in depth analysis of the main features of their operation decide what problem for accounting and financial control purposes. 

The inherent problems existing with respect to financial management in the hospitality industry could be viewed with respect to the following: 

i. Implore cost control system. 

ii. Lack of people budgetary system. 

iii. Inflexibility in the cost structure and nature of products. 

iv. Little attention had been paid to the core of financial planning. 

v. Complex sales instability and cycle of operations 

vi. Inefficient sourcing of finance and improper advance planning and control on how they should be utilized their stock . 

the limitation listed above and others stated in the objective of the motivating force behind the study. 


The main objective of the study is to device a means of improving on the management of scares financial resources with particular reference for planning and control in circular hotel Ilorin. 

The study also sets out to determine the following objectives. 

1. The extent to which budgeting and budgetary would aid the proper control its financial resources. 

2. How the resources of financial form appropriate sources and at the right cost would maximize the owned of the catering and hotel operation. 

3. To determine the appropriate credit control policy which help in the maximization of bad debt. 

4. To determine the extent to which management not liquid financial resources would obstinate the possibility of shortage of excessive holding of cash. 

5. To disclose ho9w costing and budgetary control is used as tool for control in the hotel operations. Route. 

6. To determine the extent to which the administer of the stock or investors in the hotel operation would help in reducing wastage, pilferage and reduction in excessive investment in perishable stock. 


Hotel and catering establishment that are successful hardly succeed by chance. They are often the out come of extensive planning and control on the parts of the efficient management team, especially as tit relates to the management of their scarce financial resource, since financial have been describe as the “life blood” of any business venture. 

More so, finance had also been describe as the resource had also been described as the resource input to the proper management of men, money materials and machinery without growth planning and control (even in  hotels with service in great demand) will be unable to sustain the level of operation required. And control. Uncertainly and change is a luxury that is hardly enjoyed by hotels and catering establishment operating in a volatile economy like Nigeria, it than follows that by which the planning and control of their financial resources would help its services in the implies competitive business environment. 

By carrying out a study on the financial operation in circular Hotel Ilorin. The study will go a long way to achieve the following benefits. 

a. The study will help to review the optimum stock level. 

b. The effective management of working capital with the object of reducing excessive investment on it. 

c. The study will help to add in no small measure to literature in financial management in catering and control the hotel operation. 

d. The study will also helped to explore the instability in sales and list structure in which plans was devised to instigate  against uncertain future. 

e. To put in place a comprehensive control system for their credit policy. 


The tools for data collection was mostly interview and questionnaire. Comprised of open ended and close ended questions, descriptive method of data analysis was used. 

The primary and secondary data collection used including going to the case of study and related establishment. 

To carry out personal and direct administration of questionnaire, personnel, interviews,. Interview of personal and the company and statement issue by the company that are relevant to the study was equally used. 

The secondary method of data collection and analysis involve the collection of processed data, information facilities in the campus (Kwara State Polytechnics) Kwara State Library Complex Ilorin was also used, such materials as journals magazines and text. Relating to the data area under the study was used. 


In order to provide solution to the research problems indentified, to purse the purpose of this stud, the following hypothesis were formulated and test empirically: 

1. Hi: financial planning and control enhance hotel operations. 

Ho: financial planning and control does not enhance hotel operation system. 

2. Hi: there is a relationship between financial planning and control of hotel operation

Ho: there is relationship between financial planning and control of hotel operations. 


The entire study is made up of five chapter, chapter one took a critical review of the hospitality industry, the theoretical background the need for the study and what the study had set out to achieve. 

Chapter two reviewed related literature that have “direct relationship that exist between two variables object to the study” the variance analysis and views of various authorities control the management as it affects accounting and finance. 

Chapter Four based on the data analysis, data presentation and finding of the study. 

Chapter Five served as the conclusion and recommendation and the various area of further of the study. 



In the course of receiving the data collected in this research work, the ever occurring observation is that the rate of turnover varies significantly from one department to another. 

Amstrong (1994), States that gross turnover cost figure seen helpful in some cases, it is at the sometime misleading in that they fail to juxtapose high turnover, with low turnover areas. Rate of new employees, mostly skilled workers and the group are frequently seen with high turnover rate. 

Cole (1992) Stresses that a turnover rate of 26% would be considered perfectly satisfactory by most firms, while a turnover rate of 10% would be considered a major problem for an organization.  

The analysis of data received from various sources during the field of study though questionnaire is presented in this chapter. So also is the test of research hypothesis. 


There are basically three ways of going into a catering and hotel business which include: starting from the scratch through development buying and existing business which can be developed further and buying a franchise. The services of an accounts is very useful in he early stage of going into a hotel business thereby debunking erroneous belief that accountants are only used for the preparation of audited operation are: legal adviser, marketing experts, investment analysis etc. (Edward Dawin, 1990). 

The fundamental objective of market feasibility is to help identify a market opportunity and the means of exploiting that market to meet the set objective. The extent or depth of a market feasibility study will very considerably according to the needs of situation. 

The basic aims of food and beverage control system can be simply stated as satisfying both the customer requirement and the financial requirement. To achieve this, system must seek to avoid excessive cost without sacrificing quality and competitors price of the product being marketed. 

Cost control in hotel operation is a very difficult task, this is further consumed by the business  orientation earlier discussed. The effect of this is that, it leaves very little time for control task and hence the importance of daily or weekly food cost report and overall control system could be grouped into four mutually inter – related procedure which form a continues cycle of operation. These procedure are: planning activating comparing and correcting. 



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