Statement Analysis
Number of rooms 240 240 240 2014 180 $ 76% 240 2015 183 $ 77% 240 2017 190 $ 78% 2016 186 $ 78% 2018 192 $ ADR OCC RevPAR 80% REVENUE Rooms Food & Beverage Other Operated Departments Miscellaneous Income TOTAL REVENUE $ 1,980,450 $ 2,178,495 $ 2,396,345 $ 2,635,979 $ 2,899,577 $ 223,400 $ 241,272 $ 260,574 $ 281,420 $ 303,933 $ 81,376 $ 88,700 $ 97,570 $ 109,278 $ 119,113 DEPARTMENTAL EXPENSES Rooms Food & Beverage Other Operated Departments TOTAL DEPARTMENTAL EXPENSES $ 2,396,736 $ 2,468,743 $ 2,541,802 $ 2,596,464 $ 2,691,072 $ 990,225 $ 1,089,248 $ 1,198,172 $ 1,317,989 $ 1,449,788 $ 89,360 $ 96,509 $ 104,230 $ 112,568 $ 121,573 TOTAL DEPARTMENTAL PROFITS UNDISTRIBUTED OPERATING EXPENSES Administrative & General Marketing Utility Costs Property Operation & Maintenance TOTAL UNDISTRIBUTED OPERATING EXPENSES $ $ $ $ 570,756 $ 594,087 $ 618,540 $ 640,360 $ 671,119 428,067 $ 445,565 $ 463,905 $ 480,270 $ 503,339 285,378 $ 297,044 $ 309,270 $ 320,180 $ 335,560 214,034 $ 222,783 $ 231,952 $ 240,135 $ 251,670 GROSS OPERATING PROFIT Franchise Fees (Royalty) (5% of Rooms Revenue) Management Fees (6% of GOP) INCOME BEFORE FIXED CHARGES SELECTED FIXED CHARGES Property Taxes Insurance Reserve For Capital Replacement $ $ $ 285,378 $ 297,044 $ 309,270 $ 320,180 $ 335,560 63,000 $ 63,000 $ 63,000 $ 63,000 $ 63,000 185,887 $ 192,764 $ 199,913 $ 206,021 $ 215,077 $ $ EBITDA Depreciation Interest Expense Income Before Income Tax Income Tax @ 30% Net Income 320,000 $ 280,000 $ 280,000 $ 280,000 $ 105,000 $ 105,000 $ 68,000 $ 68,000 $ 280,000 68,000 Horizontal Analysis 2014-2015 2015-2016 2016-2017 2017-2018 Difference % Change Difference % Change Difference % Change Difference % Change Vertical Analysis 2015 2016 2014 2017 2018 Number of rooms 240 240 240 2014 180 $ 76% 240 2015 183 $ 77% 240 2017 190 $ 78% 2016 186 $ 78% 2018 192 $ ADR OCC RevPAR 80% REVENUE Rooms Food & Beverage Other Operated Departments Miscellaneous Income TOTAL REVENUE $ 1,980,450 $ 2,178,495 $ 2,396,345 $ 2,635,979 $ 2,899,577 $ 223,400 $ 241,272 $ 260,574 $ 281,420 $ 303,933 $ 81,376 $ 88,700 $ 97,570 $ 109,278 $ 119,113 DEPARTMENTAL EXPENSES Rooms Food & Beverage Other Operated Departments TOTAL DEPARTMENTAL EXPENSES $ 2,396,736 $ 2,468,743 $ 2,541,802 $ 2,596,464 $ 2,691,072 $ 990,225 $ 1,089,248 $ 1,198,172 $ 1,317,989 $ 1,449,788 $ 89,360 $ 96,509 $ 104,230 $ 112,568 $ 121,573 TOTAL DEPARTMENTAL PROFITS UNDISTRIBUTED OPERATING EXPENSES Administrative & General Marketing Utility Costs Property Operation & Maintenance TOTAL UNDISTRIBUTED OPERATING EXPENSES $ $ $ $ 570,756 $ 594,087 $ 618,540 $ 640,360 $ 671,119 428,067 $ 445,565 $ 463,905 $ 480,270 $ 503,339 285,378 $ 297,044 $ 309,270 $ 320,180 $ 335,560 214,034 $ 222,783 $ 231,952 $ 240,135 $ 251,670 GROSS OPERATING PROFIT Franchise Fees (Royalty) (5% of Rooms Revenue) Management Fees (6% of GOP) INCOME BEFORE FIXED CHARGES SELECTED FIXED CHARGES Property Taxes Insurance Reserve For Capital Replacement $ $ $ 285,378 $ 297,044 $ 309,270 $ 320,180 $ 335,560 63,000 $ 63,000 $ 63,000 $ 63,000 $ 63,000 185,887 $ 192,764 $ 199,913 $ 206,021 $ 215,077 $ $ EBITDA Depreciation Interest Expense Income Before Income Tax Income Tax @ 30% Net Income 320,000 $ 280,000 $ 280,000 $ 280,000 $ 105,000 $ 105,000 $ 68,000 $ 68,000 $ 280,000 68,000 Horizontal Analysis 2014-2015 2015-2016 2016-2017 2017-2018 Difference % Change Difference % Change Difference % Change Difference % Change Vertical Analysis 2015 2016 2014 2017 2018
