Cost Controller

About the Opportunity

Fairmont The Red Sea is seeking a detail-oriented Cost Controller to join its pre-opening finance team in Umluj, Saudi Arabia. This is an exciting opportunity to contribute to one of the region’s most prestigious ultra-luxury hospitality developments, supporting cost optimization, financial reporting, and operational efficiency from the pre-opening stage through ongoing operations.

The Role

The Cost Controller will be responsible for monitoring operational costs, preparing financial analysis and variance reports, managing inventory and departmental budgets, and implementing cost control procedures across the property. Working closely with department heads and senior finance leadership, the successful candidate will help maximize profitability while maintaining the highest standards of financial integrity and compliance.

Key Responsibilities

• Monitor and analyze departmental costs, expenditures, and financial performance.
• Prepare cost budgets, forecasts, and variance analysis reports.
• Reconcile cost accounts and ensure accuracy of financial records.
• Develop and implement effective cost control policies and procedures.
• Prepare regular cost reports and financial statements for management.
• Partner with department heads to identify cost-saving opportunities and improve operational efficiency.
• Support annual budgeting and financial planning processes.
• Investigate cost variances and recommend corrective actions.
• Maintain compliance with company financial policies and accounting standards.
• Analyze operational data to support pricing strategies and profitability.
• Utilize ERP and accounting systems to monitor costs and generate reports.
• Support financial reporting during the hotel’s pre-opening phase.

Candidate Requirements

• Bachelor’s Degree in Accounting, Finance, or a related discipline.
• 3–5 years of experience in Cost Control, Cost Accounting, or Financial Analysis within hospitality or a similar service industry.
• Strong knowledge of cost accounting principles, budgeting, and financial reporting.
• Advanced proficiency in Microsoft Excel and ERP/accounting systems (SAP experience is an advantage).
• Excellent analytical, numerical, and problem-solving skills.
• Strong attention to detail with the ability to interpret complex financial data.
• Excellent communication and interpersonal skills.
• Experience in hospitality cost optimization and inventory management is preferred.
• Pre-opening hotel experience is mandatory.
• Understanding of ultra-luxury hospitality standards and guest expectations is highly desirable.