You are the Chief Financial Officer of the Sydney Harbour Marriott Hotel at Circular Qua, your venue has the following:

• 32 floors , 543 rooms , 52 suites
• 14 meeting rooms, 16,619 sq. ft of total meeting space
• 3 concierge levels

You have 300 staff and you need to develop the finance system so that no department in your venue is caught short. This means you need to work collaboratively with the department heads to develop an annual budget with monthly allocations:

TASK 2

1. For the business outlined in part one of your assignment, determine the sources of revenue.

2. Estimate revenue:

a) The number of rooms (accommodation) let and the price

b) The number of seats in the restaurant, turnover and average revenue per head

i) For food

ii) For beverages

3. Estimate expenses:

a) A food cost percent

b) A beverage cost percent

c) A labour percent

d) An overhead rate

4. Complete a monthly budget for 12 months.

5. Determine the profit your business will generate for a year.

6. Complete break even analysis on your business.

7. Complete cash budget on your business.