AbstractThis chapter explores the concept of cost management in the tourism, hospitality and events (THE) facilities context. The chapter notes the importance of costs at both a tangible and intangible level. This includes the cost of physical resources such as equipment and materials, in addition to the opportunity cost of pursuing a particular course of action in the development of a facility. In this respect, the chapter proposes a scenario planning approach to understanding cost management. Key to this is understanding the financial issues of selecting different alternatives. This is in terms of the break-even point and overall projected financial performance.