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Rank Organisation plc
Management Accountant  
   
Period Employed August 1991 to October 1992
Business Sector

Hotels & Leisure
Company Turnover £100M
Employees 4,000
Description of Company Activities Provider of 6 major London Hotels, 20 Provincial Hotels and 10 US based hotels.
Reporting Lines Group FD, Group FC, Commercial Director
Direct Staff Responsibility 2
   
   
Remit of the Role  

Following the acquisition of Mecca plc in 1990, I was invited to join the management accounts team to bring my expert modelling and consolidation skills to the department for group reporting purposes. In addition I was also asked as part of this remit to undertake investment appraisal reviews on capital projects across the hotel portfolio.
 
Projects & Activities
 

  • Produced all group monthly management accounts

  • Produced group operating budget which included developing extensive individual business plans with each of the hotel's managers

  • Produced annual forecasts and produced weekly updates reflecting the most recent trading performances from the hotel group.

  • Produced 5 year strategic plans in conjunction with the commercial department.

  • Developed interim and year end trading performance results for release to the stock market.
Key Achievements
 

  • Revalued group assets resulting in increased operating performance

  • Automated the consolidation of 36 hotel operations which provided weekly operating performance, monthly P&L's and forecasts.

  • Developed interim and year end trading performance results for release to the stock market.

  • Statistical analysis of historical hotel operations, which resulted in new product offerings being developed for the specific users of certain hotels e.g. conference facilities
 
Reason For Leaving
 
Rank's acquisition of Mecca resulted in very high gearing levels, which it turn was not being serviced by the operational performance expected in the hotel and leisure divisions.  To address this, Rank Group decided to sell off the entire hotel arm of the business which resulted in everyone being made redundant.
 
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