November EC Meeting 2019

Accounts Commentary and Major variance analysis

The table below summarises the Actual results for the Hotel to date

HOTEL BUDGET v ACTUAL NET PROFIT/(LOSS) 2019 January February March

April 5,676

May

June

July

August September October

2019 BUDGET ACTUAL 2019

(25,549) (34,887) (9,338)

(18,923) (23,624) (4,701)

6,110

5,271

18,634 33,094 14,460

23,567 27,838 22,518 24,283

(14,074) (20,184)

(8,204) (13,880)

(21,700) (26,971)

15,859 25,228 21,602

(19,555) (43,838)

Variance

(7,708)

(2,610)

(916)

The hotel occupancy, Rooms Sold and Average Room Rate shown monthly in comparison to budget and to 2018 & 2017 are summarised below:

Quorn Grange Hotel HOTEL OCCUPANCY 2019

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT TOTAL (YTD)

Available Rooms

1,178

1,064

1,178

1,140

1,178

1,860

1,922

1,922

1,860

1,922

1524

Occupancy 2017 Actual 2018 Actual 2019 Actual 2019 Budget Rooms Sold 2017 Actual 2018 Actual 2019 Actual 2019 Budget Variance

59% 62% 65% 74% 70% 79% 77% 69% 82% 76% 71% 64% 79% 73% 74% 78% 78% 74% 72% 82% 69% 74% 60% 75% 75% 76% 73% 78% 68% 66% 72% 64% 71% 61% 75% 74% 75% 59% 65% 60% 65% 70% 68% 67% -1% 0% 1% 1% 14% 13% 8% 1% 2% -4% 3% 691 655 771 842 825 900 909 809 933 899 757 841 863 838 917 917 874 851 932 815 689 803 882 869 854 1047 1319 1290 1369 1246 719 798 872 855 690 1034 1153 1249 1302 1307 -4% 1% 1% 2% 24% 1% 14% 3% 5% -5% 61.2 65.7 63.8 61.9 63.9 63.2 65.1 63.3 66.5 57.5 59.3 56.5 62.7 62.3 72.0 72.0 69.6 66.1 66.1 61.4 67.0 63.1 68.8 71.0 67.9 70.2 70.9 64.5 66.8 62.0 61.0 63.0 65.0 65.0 65.0 64.0 64.0 64.0 64.0 64.0 10% 0% 6% 9% 4% 10% 11% 1% 4% -3% 823 861 1037 998 4% 63 65 67 64 5%

Variance

Average Room Rate 2017 Actual

2018 Actual 2019 Actual 2019 Budget

Variance

Turnover & Gross Profit

The total turnover for the hotel was £158k for the month, which was £41k lower than budget and £31k higher than the previous year with the new facilities commissioned. Occupancy 64% which was 4% lower than budget and 5% lower than 2018. The average room rate £62.0 was £2.00 lower than budget and £0.60 higher than the previous year. YTD Actual Loss is £26k , which is £116k more than budget but £137k better than 2018. Gross Profit in the month was £47k , which was £43k lower than budget and £22k higher than 2018.

Lower F & B & Weddings sales the main cause for below budget performance sales.