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HVS 64% 55% Forecasts - 03-25-11

HVS 64% 55% Forecasts - 03-25-11

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Published by Todd Dorman

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Published by: Todd Dorman on Sep 22, 2011
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09/22/2011

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 Cedar Rapids, Iowa March, 2011
Table 1 - Ten-Year Forecast of Income and Expense (55% Stabilized Occupancy)
2012/132013/142014/152015/162016/172017/182018/192019/202020/212021/22Number of Rooms:238238238238238238238238238238Occupied Rooms:46,04147,77947,77947,77947,77947,77947,77947,77947,77947,779Occupancy:53%55%55%55%55%55%55%55%55%55%Average Rate:$109.39% of$113.73% of$117.14% of$120.65% of$124.27% of$128.00% of$131.84% of$135.79% of$139.87% of$144.06RevPAR:$57.98Gross$62.55Gross$64.43Gross$66.36Gross$68.35Gross$70.40Gross$72.51Gross$74.69Gross$76.93Gross$79.24REVENUE
Rooms $5,036 60.2 % $5,434 60.8 % $5,597 60.8 % $5,765 60.8 % $5,937 60.8 % $6,116 60.8 % $6,299 60.8 % $6,488 60.8 % $6,683 60.8 % $6,883 60.8 %Food & Beverage 2,086 24.9 2,209 24.7 2,275 24.7 2,343 24.7 2,414 24.7 2,486 24.7 2,561 24.7 2,638 24.7 2,717 24.7 2,798 24.7Telephone 16 0.2 17 0.2 18 0.2 18 0.2 19 0.2 19 0.2 20 0.2 21 0.2 21 0.2 22 0.2Convention Center 926 11.1 964 10.8 993 10.8 1,023 10.8 1,053 10.8 1,085 10.8 1,117 10.8 1,151 10.8 1,185 10.8 1,221 10.8Other Income 301 3.6 314 3.5 323 3.5 333 3.5 343 3.5 353 3.5 364 3.5 374 3.5 386 3.5 397 3.5Total 8,365 100.0 8,938 100.0 9,206 100.0 9,482 100.0 9,765 100.0 10,059 100.0 10,361 100.0 10,671 100.0 10,992 100.0 11,321 100.0
DEPARTMENTAL EXPENSES*
Rooms 1,427 28.3 1,491 27.4 1,536 27.4 1,582 27.4 1,630 27.5 1,679 27.4 1,729 27.4 1,781 27.4 1,834 27.4 1,889 27.4Food & Beverage 1,699 81.4 1,750 79.2 1,802 79.2 1,856 79.2 1,912 79.2 1,969 79.2 2,028 79.2 2,089 79.2 2,152 79.2 2,216 79.2Telephone 18 111.6 19 109.4 19 109.4 20 109.4 21 109.4 21 109.4 22 109.4 22 109.4 23 109.4 24 109.4Convention Center 410 44.3 426 44.2 439 44.2 452 44.2 465 44.2 479 44.2 494 44.2 509 44.2 524 44.2 540 44.2Other Expenses 158 52.5 164 52.1 168 52.1 173 52.1 179 52.1 184 52.1 190 52.1 195 52.1 201 52.1 207 52.1Total 3,712 44.4 3,849 43.1 3,965 43.1 4,084 43.1 4,206 43.1 4,333 43.1 4,463 43.1 4,596 43.1 4,734 43.1 4,876 43.1
DEPARTMENTAL INCOME
4,653 55.6 5,088 56.9 5,241 56.9 5,398 56.9 5,559 56.9 5,727 56.9 5,898 56.9 6,075 56.9 6,258 56.9 6,445 56.9
UNDISTRIBUTED OPERATING EXPENSES
Administrative & General 751 9.0 777 8.7 800 8.7 824 8.7 849 8.7 874 8.7 900 8.7 927 8.7 955 8.7 984 8.7Marketing 776 9.3 802 9.0 827 9.0 851 9.0 877 9.0 903 9.0 930 9.0 958 9.0 987 9.0 1,017 9.0Franchise Fee 403 4.8 435 4.9 448 4.9 461 4.9 475 4.9 489 4.9 504 4.9 519 4.9 535 4.9 551 4.9Prop. Operations & Maint. 601 7.2 621 7.0 640 7.0 659 7.0 679 7.0 699 7.0 720 7.0 742 7.0 764 7.0 787 7.0Utilities 626 7.5 648 7.2 667 7.2 687 7.2 708 7.2 729 7.2 751 7.2 773 7.2 796 7.2 820 7.2Total 3,158 37.8 3,283 36.8 3,381 36.8 3,483 36.8 3,587 36.8 3,695 36.8 3,805 36.8 3,920 36.8 4,037 36.8 4,158 36.8
HOUSE PROFIT
1,495 17.8 1,805 20.1 1,860 20.1 1,915 20.1 1,972 20.1 2,032 20.1 2,093 20.1 2,155 20.1 2,220 20.1 2,287 20.1Management Fee 251 3.0 268 3.0 276 3.0 284 3.0 293 3.0 302 3.0 311 3.0 320 3.0 330 3.0 340 3.0
INCOME BEFORE FIXED CHARGES
1,244 14.8 1,537 17.1 1,583 17.1 1,631 17.1 1,679 17.1 1,730 17.1 1,782 17.1 1,835 17.1 1,891 17.1 1,947 17.1
FIXED EXPENSES
Property Taxes 329 3.9 334 3.7 344 3.7 354 3.7 365 3.7 375 3.7 387 3.7 398 3.7 410 3.7 423 3.7Insurance 52 0.6 54 0.6 55 0.6 57 0.6 59 0.6 60 0.6 62 0.6 64 0.6 66 0.6 68 0.6Lease Expense 26 0.3 27 0.3 28 0.3 29 0.3 30 0.3 30 0.3 31 0.3 32 0.3 33 0.3 34 0.3Reserve for Replacement 167 2.0 358 4.0 368 4.0 379 4.0 391 4.0 402 4.0 414 4.0 427 4.0 440 4.0 453 4.0Total 574 6.8 772 8.6 795 8.6 819 8.6 843 8.6 869 8.6 895 8.6 921 8.6 949 8.6 978 8.6
NET INCOME FROM HOTEL & CC
$670 8.0 % $766 8.5 % $789 8.5 % $812 8.5 % $836 8.5 % $862 8.5 % $887 8.5 % $914 8.5 % $942 8.5 % $969 8.5 %1 1 1 1 1 1 1 1 1
TOTAL REVENUES FROM ARENA
$2,469 $2,666 $2,864 $2,954 $3,047 $3,137 $3,231 $3,328 $3,427 $3,531
TOTAL EXPENSES FROM ARENA
$2,713 $2,863 $3,012 $3,104 $3,200 $3,293 $3,392 $3,495 $3,601 $3,706
NET INCOME FROM ARENA
($244) ($197) ($148) ($150) ($153) ($156) ($161) ($167) ($174) ($175)
NET INCOME FROM HOTEL, CC, & ARENA
$426 $569 $641 $662 $683 $706 $726 $747 $768 $794*Departmental expenses are expressed as a percentage of departmental revenues.
% ofGross
 

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