F&GP Meeting November 2017

QUORN GRANGE HOTEL

REVIEW OF ACCOUNTS AS AT Sep 30, 2017

Accounts Review- Hotel

QUORN GRANGE HOTEL SUMMARY

Sep

YTD -Sep

YTD - Aug

Hotel

Hotel

Hotel

£

£

£

Net Profit/(loss)

9,519

(111,160)

(120,679)

Adjust for Expenses not budgeted: Gift Aid GFTU

4,000

36,000

32,000

Trading Profit/(Loss) Budgeted Profit/(loss)

13,519

(75,160)

(87,539) (1,026)

5,183

4,157

The hotel occupancy for January through to September in comparison to budget and to 2016 can be summarised as follows:

Quorn Grange Hotel HOTEL OCCUPANCY 2017

JAN FEB MAR APR MAY JUN JUL AUG SEP

Available Rooms

1,178

1,064

1,178

1,126

1,178

1,140

1,178

1,178

1,140

Occupancy 2016 Actual 2017 Actual 2017 Budget

44% 56% 54% 65% 68% 68% 68% 61% 73% 59% 62% 65% 74% 70% 79% 77% 69% 82% 55% 58% 60% 65% 68% 68% 70% 74% 72% 4% 4% 5% 9% 2% 11% 7% -5% 10%

Variance

Rooms Sold 2016 Actual 2017 Actual 2017 Budget

506 691 636

600 655 617

609 729 771 842 707 741

767 766 788 699 833 825 900 909 809 933 801 775 825 872 821

Variance

9% 6% 9% 14% 3% 16% 10% -7% 14%

Average Room Rate 2016 Actual

61.7 61.2 61.0

62.8 65.7 62.0

65.6 62.3 58.0 55.0 66.5 60.0 63.9 63.8 61.9 63.87 63.15 65.13 63.34 66.52 65.0 66.0 66.0 66.0 66.0 66.0 70.0

2017 Actual 2017 Budget

Variance

0.2% 6% -2% -6% -3% -4% -1% -4% -5%

Turnover & Gross Profit

The total turnover for the hotel is £4.2k higher than budget for Sep 17 and (£8.1k) below year to date.

Occupancy is 10% higher the budget. The average room rate 5% lower than budget.

The Hotel recorded a Net Profit of £13.5k for Sept and (£75.2k) loss YTD after adjusting for the GFTU Gift Aid.