Department
draft budget
comparison
Hotel Futura Budget Forecast 2018/19 Total Revenue 2018/2019 $ 10,959,695.35 - Forecasted 2019/2020 Forecasts Forecast % 100% Room Budget Rooms Available Rooms Occupied Total Occupancy % Revenue Per Available Room Total Room Revenue 63875 51548 80.70 134.80 6,948,897.21 COGS Staff costs Other Expenses Total Expenses Expenses Analysis 972,845.61 1,181,312.53 S 416.933.83 $ 2,571,091.97 80.7% Total Catering Revenue 4,010,798.14 Food Budget Total Revenue Total Food Revenue Total Beverage Revenue 2,019,370.53 1,740.112.81 279,257.72 86% Expenses Analysis COGS 605,811.16 Staff costs $ 1,130,847.50 Other Expenses S 121,162.23 Total Expenses S 1,857,820.89 30% 56% 6% 14% Banquet Budget Total Revenue Total Food Revenue Total Beverage Revenue 1,060.496.78 876,759.95 183,736.83 24% 36% 83% 17% 5% Expenses Analysis COGS 254,519.23 Staff costs 381,778.84 Other Expenses $ 53,024.84 689,322.91 Expenses Analysis COGS 104,360.54 Staff costs 229,593.18 Other Expenses $ 25,046.53 359,000.25 Room Service Budget Total Revenue Total Food Revenue Total Beverage Revenue Total Other Revenue 25% 80% 417 442.15 335.796.64 34.668.69 46,976.82 55% 8% 6% 11% Mini Bar Budget Total Revenue Beverage Revenue / Minibar Other Revenue 146,471.02 146,471.02 100% 24% 38% 13% Bar Budget Total Revenue Total Food Revenue Total Beverage Revenue Expenses Analysis COGS 35,153.04 Staff costs 55,658.99 Other Expenses 19,041.23 109,853.27 Expenses Analysis COGS 113,775.47 Staff costs 150,477.24 Other Expenses $ 22,021.06 286,273.77 367,017.66 67,191.88 299,825.78 18% 31% 41% 6% 82% $ 10,959,695.35 Hotel Futura Budget Forecast 2019/2020 Total Revenue 2018/2019 $ 10,959,695.35 - Forecasted 2019/2020 Banquet Budget Total Revenue Total Food Revenue Total Beverage Revenue 1.060 496.78 876.759.95 183,736.83 Expenses Analysis COGS Stal costs Other Expenses Room Service Budget Total Revenue Total Food Revenue Total Beverage Revenue Total Other Revenue 417 442.15 335.796.64 34.668.69 46.976.82 Expenses Analysis COGS Start costs Other Expenses Mini Bar Budget Total Revenue Beverage Revenue / Minibar Other Revenue 146,471.02 146.471 02 $ 100% Expenses Analysis COGS Staff costs Other Expenses Bar Budget Total Revenue Total Food Revenue Total Beverage Revenue 367,017.66 67,191.88 299 825 78 Expenses Analysis COGS Staff costs Other Expenses 10.959.695.35 2018/2019 2019/2020 Turnover 100% 100% Staff Cost #DIV/0! ADIVIO! Food Cost #DIV/0! I NDIV/01 Beverage Cost #DIV/0! #DIV/0! Other Expenses #DIV/0! #DIV/0! Task 1 Your Tasks: A. Go to the Spreadsheet Activity 2 Support Material. Collate the totals for the actual 2018/2019 and the draft budget 2019/2020 in the tab "comparison". 1. How do the figures compare overall? 2. Which areas would need to be investigated? B. Go to the tab "Draft Budget", create a copy and move this copy to the end. Rename and label this copy "Future Potential" and manipulate the scenario below: Due to renovations for your 2019/2020 budget as outlined in Task 2, the number of available rooms had been limited to 90%. 1. How will your budget for 2019/2020 be affected once the number of available rooms will be 100% and the occupancy rate will increase to 84% and the average room rate increases to $185.00 per room and "Other Expenses" increases to 14%? Task 2 Your Tasks: 1. Given the suggested changes in the operation for the 2018/2019 as set out in Task 2, discuss which departments you will need to liaise with in terms of financial and HR impacts. Which details will you need to discuss for a successful implementation of the budget? 2. Which factors need to be considered when the hotel reaches full accommodation capacity based on the future forecast for 2019/2020? Given the modernisation of the operation, the director in conjunction with the F&B director have approached you to prepare for the purchase and implementation of a new stock control system linked to a POS to enhance security provisions and prevent theft. Research a suitable system and provide details for the features and a cost estimate including ongoing costs for maintenance or subscriptions. Attach all information you have obtained to this assessment. Hotel Futura Budget Forecast 2018/19 Total Revenue 2018/2019 $ 10,959,695.35 - Forecasted 2019/2020 Forecasts Forecast % 100% Room Budget Rooms Available Rooms Occupied Total Occupancy % Revenue Per Available Room Total Room Revenue 63875 51548 80.70 134.80 6,948,897.21 COGS Staff costs Other Expenses Total Expenses Expenses Analysis 972,845.61 1,181,312.53 S 416.933.83 $ 2,571,091.97 80.7% Total Catering Revenue 4,010,798.14 Food Budget Total Revenue Total Food Revenue Total Beverage Revenue 2,019,370.53 1,740.112.81 279,257.72 86% Expenses Analysis COGS 605,811.16 Staff costs $ 1,130,847.50 Other Expenses S 121,162.23 Total Expenses S 1,857,820.89 30% 56% 6% 14% Banquet Budget Total Revenue Total Food Revenue Total Beverage Revenue 1,060.496.78 876,759.95 183,736.83 24% 36% 83% 17% 5% Expenses Analysis COGS 254,519.23 Staff costs 381,778.84 Other Expenses $ 53,024.84 689,322.91 Expenses Analysis COGS 104,360.54 Staff costs 229,593.18 Other Expenses $ 25,046.53 359,000.25 Room Service Budget Total Revenue Total Food Revenue Total Beverage Revenue Total Other Revenue 25% 80% 417 442.15 335.796.64 34.668.69 46,976.82 55% 8% 6% 11% Mini Bar Budget Total Revenue Beverage Revenue / Minibar Other Revenue 146,471.02 146,471.02 100% 24% 38% 13% Bar Budget Total Revenue Total Food Revenue Total Beverage Revenue Expenses Analysis COGS 35,153.04 Staff costs 55,658.99 Other Expenses 19,041.23 109,853.27 Expenses Analysis COGS 113,775.47 Staff costs 150,477.24 Other Expenses $ 22,021.06 286,273.77 367,017.66 67,191.88 299,825.78 18% 31% 41% 6% 82% $ 10,959,695.35 Hotel Futura Budget Forecast 2019/2020 Total Revenue 2018/2019 $ 10,959,695.35 - Forecasted 2019/2020 Banquet Budget Total Revenue Total Food Revenue Total Beverage Revenue 1.060 496.78 876.759.95 183,736.83 Expenses Analysis COGS Stal costs Other Expenses Room Service Budget Total Revenue Total Food Revenue Total Beverage Revenue Total Other Revenue 417 442.15 335.796.64 34.668.69 46.976.82 Expenses Analysis COGS Start costs Other Expenses Mini Bar Budget Total Revenue Beverage Revenue / Minibar Other Revenue 146,471.02 146.471 02 $ 100% Expenses Analysis COGS Staff costs Other Expenses Bar Budget Total Revenue Total Food Revenue Total Beverage Revenue 367,017.66 67,191.88 299 825 78 Expenses Analysis COGS Staff costs Other Expenses 10.959.695.35 2018/2019 2019/2020 Turnover 100% 100% Staff Cost #DIV/0! ADIVIO! Food Cost #DIV/0! I NDIV/01 Beverage Cost #DIV/0! #DIV/0! Other Expenses #DIV/0! #DIV/0! Task 1 Your Tasks: A. Go to the Spreadsheet Activity 2 Support Material. Collate the totals for the actual 2018/2019 and the draft budget 2019/2020 in the tab "comparison". 1. How do the figures compare overall? 2. Which areas would need to be investigated? B. Go to the tab "Draft Budget", create a copy and move this copy to the end. Rename and label this copy "Future Potential" and manipulate the scenario below: Due to renovations for your 2019/2020 budget as outlined in Task 2, the number of available rooms had been limited to 90%. 1. How will your budget for 2019/2020 be affected once the number of available rooms will be 100% and the occupancy rate will increase to 84% and the average room rate increases to $185.00 per room and "Other Expenses" increases to 14%? Task 2 Your Tasks: 1. Given the suggested changes in the operation for the 2018/2019 as set out in Task 2, discuss which departments you will need to liaise with in terms of financial and HR impacts. Which details will you need to discuss for a successful implementation of the budget? 2. Which factors need to be considered when the hotel reaches full accommodation capacity based on the future forecast for 2019/2020? Given the modernisation of the operation, the director in conjunction with the F&B director have approached you to prepare for the purchase and implementation of a new stock control system linked to a POS to enhance security provisions and prevent theft. Research a suitable system and provide details for the features and a cost estimate including ongoing costs for maintenance or subscriptions. Attach all information you have obtained to this assessment
