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Ok #HotelTwit, let’s talk benchmarking! We’ll look at each department from the Summary P+L and talk about how we compare it to like hotels, and why. This’ll get us to be able to do a “quick & dirty” proforma, which we’ll do for a real hotel next week
Quick reminder – you can find the Glossary of Terms in the thread below. I’ve added a few things since the launch as well
Occ & ADR – These are easy! We compare them as-is… the key is to identify the most competitive and most comparable local hotels. We’ll talk about how I project Occ & ADR in a future thread. BTW – This covers Rooms Revenue also
Next up in the #HotelTwit series is an intro to the P+L!
Every operating co has their own format, so I’ll show you a representative example (with no #s) and also an example of how I like to look at it (with fake #s)
Every operating co has their own format, so I’ll show you a representative example (with no #s) and also an example of how I like to look at it (with fake #s)
Going to focus today on the Summary, and will get into departmental levels in the future
Meet the summary P+L! This shows - on the left side - the monthly performance for the month run, against both budget and prior year - and on the right side - the YTD version of the same! 
Going to kick of #HotelTwit with a running glossary of terms. I’ll keep adding as we go, and keep pinned on my profile. If you have requests for add’l terms, just drop ‘em in the thread!
Occ:
Occupancy. The percent of room s occupied in any stated time period. Occupied Room Nights ➗ Available Room Nights
Occupancy. The percent of room s occupied in any stated time period. Occupied Room Nights ➗ Available Room Nights
ADR:
Average Daily Rate (sometimes, just Rate). The average rate charged for occupied room nights in any stated time period. Gross Rooms Revenue ➗ Occupied Room Nights
Average Daily Rate (sometimes, just Rate). The average rate charged for occupied room nights in any stated time period. Gross Rooms Revenue ➗ Occupied Room Nights
