Internship at crown Plaza Finance department

Executive summary

The hospitality professionals and business schools have constantly worked together to offer internship
experience to students, effectively introducing them to the diverse sectors of the industry. In line with
this partnership, this report provides my internship experience at the Crowne Plaza Hotel, Riyadh.
Specifically, it delves on the internship experience at the finance department of this International Hotel.
Other than providing an introduction about the hotel and its finance department, the report also
evaluates its business strategy, the tasks that I was assigned and my contribution. The report also
reviews literature on three concepts associated with internship. It also critically reflects on my readiness
in the entire program, offers summary of finding, recommendation and the major conclusions.

Table of contents
The introduction of the report

Internships are the supervised and trained experience in a real life professional environment where a
student acquires and learns vital skills. Therefore, their intentions are to introduce candidates part-time
of full-time to real-life experience relating to their career interests and goals. As per the Finance course
structure, students in our University must undertake months of industrial practice before they can
graduate. Consequently, this paper reports my experience when I took part in a 2-month internship in
Crowne Plaza Hotel. I specifically served in the Hotel’s Finance Department.

Introduction to the company and the department of concerned

Introduction to the Company

Crowne Plaza Hotel, Riyadh is one of the biggest upscale hotels in Riyadh. Located at the heart of Al-
Raidah Digital City this magnificent Riyadh Hotel provides premium accommodations, suited for the
discerning leisure and business travelers who acknowledges the simplified elegance merged with the
expediency of the latest features and value for money. . It is less than half an hour away from King Khalid
International Airport when travelling by car. It is locale is also convenient for guests wishing to visit the
Diplomatic Quarter and the Riyadh Exhibit Centre. Furthermore, its position in the Al-Raidah Digital City
also makes it easier for its guests to visits the magnificent Kingdom Centre tower and Saudi Arabia’s
National Museum. In addition to hosting world-class conventions, the hotel boasts of having state of the
art event facilities, suites, gardens, and restaurants. It has over 12000 square meters of supple event
spaces comprising of grand ballrooms, beautiful Siwal Hall as well as a circular meeting center on three
levels. 12 of its private rooms are naturally lit and can accommodate more than 40 people. The Hotel’s
numerous dining alternatives comprise of Brazilian and Japanese restaurants, sky Lite Lobby Café, and an
Indoor Tea Garden. Its smart technology in each of its stylish rooms permits the guests to connect their
devices to its diverse electronic gadgets. Guest of the hotel wind down their long day at the spa, where
they enjoy soothing massage treatments, or alternatively engage in outdoor activities at the pool, sports
court, and gym. Guest at Crown Plaza can also get 24-hour access to high speed internet in the lobby
and all the other leisure facilities

Introduction to the department

Like in a majority of business, the finance department in Crowne Plaza Hotel manages the moneys that
comes in and out of the hotel. The business function of this vital department entails auditing, planning,
accounting and controlling the finances of the Hotel. It also generates the financial statement of the
company. When working in this department I realized that its contribution to this hotel and how such
contributions constructively affects the performance of the organization largely rely on factors like the
degree to which different players interact positively, and active involvement by the management. I also
found that some of the vital responsibilities and roles of the department includes:
1. Bookkeeping
Booking is possibly the most basic role of the finance department. It deals with the daily analysis,
recording as well as interpretation of the hotel’s financial transaction. The bookkeeping activities in this
case comprise tacking of all the hotel’s sales, and expenses such as payments and purchases.

2. Managing the hotel’s Cash Flow

Managing the cash flows out of and into the hotel is also a primary duty of the finance department. In so
doing, it ensures that there are sufficient funds to cater for the daily operation of the hotel. Such an area
encompasses also the credit as well as collection policies for the guest, to make sure than the creditors
and vendors are timely paid. Moreover, it ensures that the hotel is correctly paid and when payments are
due.

3. Accounts payable
For the hotel to maintain the best relationship with its vendors, ensuring that each is paid on a timely
basis is vital. The finance department’s role here include being on the lookout for opportunities to save
some monies, by establishing whether there are incentives or discounts available that they can leverage
to pay some vendors quickly. Account payable, at the very least is scheduled to ensure that the
proportion sent out for payment is the least and that there are no charges for late payment.

4. Payroll
Crowne Plaza Hotel’s finance department is also responsible for the administration and management of
the payroll system. In this department payroll is a vital function because it makes sure that every worker
is paid timely and accurately. Members assigned the payroll function makes sure that made payment is
made to the relevant organization and State entities.

Evaluation of the company’s business strategy

Hotels make money by offering both intangible and tangible services and assets to their clients. The
most fundamental assets of any hotel is its location, which is a tangible element. The services it provides
its client is its intangible assets. Unlike commercial enterprises, like real estate that somehow follow a
similar business model albeit more broadly, hotels revenues fluctuates significantly and rely on some
economic cycles. In contrast, real estate enjoy longer-term contracts with the clients which guarantee a
constant flow of revenue for an extended period. Therefore, Crowne Plaza hotel has adopted different
business strategies to ensure it remains competitive in the market.

One of the business strategies that this hotel has been using it is positioning. The strategy has ensured
that Crowne Plaza Hotel occupy a distinctive position relative to other hotels. Some of the most
significant features that the company has emphasized in the positioning strategy include its locations in
Al-Raidah Digital City, its nearness to King Khalid International Airport, and close proximity to the
National Museum. These brand image, attributes and locations are Crowne Plaza Hotel’s market position,
which is an efficient business strategy.

Another business strategy that Crowne Plaza Hotel has been using is the balance scorecard. The strategy
has been specifically utilized by the finance department. It allows this vital department in measuring
budgets, financial measurement devices and other intangible assets of the hotels like brand awareness
and customer relationship.

Crowne Plaza Hotels also utilize human connection in the creation of meaningful customer experience.
In this business strategy, the hotels ensures that the its client’s experience energizes their bodies and
makes them feel inspired during downtimes and uptimes. Consequently, it employs the a strategy of
“meeting the influencers” to enhance the experience of the customers. Some of the brand ambassadors
it consider in this strategy include celebrities, industrial experts, and local heroes. Such a creative, fun
and gutsy mission support not only triggers the client’s experience but also support value innovation.

The internship agenda: detailed description of tasks assigned and student’s contribution
A critical review and evaluation of selected literature: three concepts only

Different researchers and scholars have discussed the significance of internship programs on students.
One the concepts they have discussed about internship is its ability to offer opportunities to students for
exposure to real-life workplaces, which gives them a glimpse of what to expect of the industry. In their
research, Callan and Benzing (2004) asserts that an internship program offers the learners the
opportunity of developing a correct self-concept in addition to being the test for assessing one’s unique
characteristics as the work environment’s demand. Such assertions are in line with the thoughts of
Warsyzak (1999) who held that internship offer the students the chance to study the potential of a
career in a real life setting and in realistic manner thereby enabling them to establish whether they fit in
a specific agency or department.

Other scholars see the internship from an active point of view where they see it as a means of putting
the concepts and skills learned in a classroom into practical application. Barrows and Bosselman (1999)
claims that the fundamental principle of keeping internship is to aid students in acquiring valuable work
experience in an industry, and more specifically to ensure that student take active responsibility in the
learning process rather than taking notes from the professors. This concept builds on the concept
discussed in the above paragraph in that it also affords them with the opportunity for applying the
concepts and skills they have acquired in their years of study.

Another vital concept behind internship is its ability to enhance future employability. It enhances
employability skill mainly because the student is a trainee who is equipped with the necessary practical
experience, attitudes, skills and knowledge. Jones and Harris (2007) in their asserts that internship
exercises are vital in making students marketable for future employment. They continue to list some of
the skill that they acquire in the process that employers require. They comprise of critical thinking, oral
and written communication and lastly the practical experience in a given career. Furthermore, working in
real world setting aids interns in comprehending the concept of workplace professionalism in addition to
transiting them to professionals from students.

Critical reflections on the internship experience

My internship experience at Crowne Plaza Hotel was an amazing experience. I was able to develop
profssionaly through interaction and networking with workers and customers on the Hotel on sevreal
projects. It was my first time worling in a real world settting and in an international hotel. During the
internship, I made numerous personal achievements that I would not have made without the help of
different members of the finance department. While here I learned that getting things done requires a
team effort and that understanding and patience are crucial skill to possess because every individual has
their own ways of doing things and schedules. Before the internship, I never really appreciated the
significance of working with other.

There were also a couple of challenges. One of them was the lack of practical experience, this hindered
my ability to execute some of the tasks assigned to me because I had to consult other members of the
finance department. The second challenge was the long working hours. In a week, I worked for up to 6
days. I also faced the challenged of working with some of the guest. Some of them had unfriendly
attitudes, while some were having a bad day. Regardless of the reason they made my work harder.

Critical reflection on student’s readiness and contribution to the company

Upon arriving at the Crowne Plaza Hotel, Riyadh, I knew I was going to learn from others and also have
an amazing time. I was ready to learn mainly because I had not worked in a hospitality industry and
more so in a world class hotel. I was to begin working one two days after my arrival, so on Monday I
went to the HR department to ensure everything was set for my entry. I ensured that everything was
prepared so that I would begin my internship on the right foot.

The next day, I received my schedule and reported for work. I was happy because I understood the
importance of the whole practice and that it was an opportunity for me to develop my finance skill in the
finance department of a hotel business. My readiness for the internship was also boosted by the fact
that everyone welcomed me on board and assured me that everyone passes through the same stage and
they come out okay.

My contribution to the company came out clear from the first time I stepped in the finance department.
I learned very quickly how to negotiate prices and contracts as a purchasing officer, ensure timely
merchandize brought into the hotel were in optimal condition as a receiving officer, and maintain the
filling system for account payable record during my stint as an Account payable. Another notable
contribution was evident during my works as the Hotel’s Pay Master where I processed payrolls and
ensured that all overtime claims were backed by appropriate approval and authorization.

Summary of findings and recommendations

Internships are some of the most important opportunities for students to apply the knowledge and skills
they have learned from class. What they get from such programs are experiences. Experience are the
knowledge and skill that they acquire by participating actively and observing other professionals work.
Students can take part in internship in areas that does not relate directly to their interest but still acquire
important transferable skills such as communication, analytical skills and problem solving. My area of
interest is finance, so I would have like to have my internship at a financial institution. However, I realized
that other fields are important for my professional growth as well.

My internship stressed to me the importance of communication and teamwork especially. On top of that
I have learned that teamwork is a must we have to know how to ask for help, how to give help and how
to work with others to collaborate effectively, These days , employers not only look for candidates with
content knowledge or technical expertise, but also leadership and teamwork skills I have learned that
taking advantage of any opportunities helps to build our skills in internship. The most valuable part of my
internship experience was that it taught me what I did not want in a career and found out that I would
not be happy working for the rest of my life in cubicle . At the end of my internship in Malaysia it took
me from a guy who only thinks about his social life to someone who is constantly thinking about his
future . I learned that working in a professional environment through an internship can help us feel more
comfortable , confident and can provide us the skills that can be applied in the future . New jobs and
internships present opportunities to learn technical skills, day to day operations, business awarness and
professional etiquette,It allows us to develop new ideas and techniques of handling the job .Internships
provide us the opportunity to enhance such skiils like effective communication in both the written and
spoken word are the most valuable transferable skills that employers seek.

I also learned the values and importance of this industry and experienced that this is much superior field
than most of the other field during my training. As a human being . I noticed many changes in my
attitude . I am more confident and more likely to do any work now. During my training ,I enjoyed the
challenges I faced every single day. I learned that this is just the beginning of the road and I have to travel
a long distance to be a successful person in this field. But in the end I must say that this experience will
prove an objective in my career in the hotel industry.

Recommendation

Help Your Intern Find a Mentor Within the Organization

Having a mentor as an intern can really save the day. With so much new learning taking place at
the start of an internship, a mentor can help the student navigate the waters of a new job much
more quickly than trying to learn everything on their own. A good mentor can be invaluable for
interns just learning the ins and outs of the trade.

Develop Professional Relationships

Communicate with supervisors and co-workers and keep yourself in the loop of office
communications. Professional relationships are key to starting a successful career. Throughout
your career, a professional network will help you to learn about new opportunities and offer ways
to advance in your field.

Conclusion
References