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    TonyWilkins
    The Ole Asheboro hotel project cost $46,175,000 total or $230,875 per room for 200 rooms. This appears to be within the typical range seen in other areas for similar hotel projects. Operating income for the hotel is projected to be $2,723,432 or a 17.4% gross operating profit, but after accounting for debt service, the estimated annual cash flow is $494,188.

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    SH of 2

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    TonyWilkins
    65 views1 page
    The Ole Asheboro hotel project cost $46,175,000 total or $230,875 per room for 200 rooms. This appears to be within the typical range seen in other areas for similar hotel projects. Operating income for the hotel is projected to be $2,723,432 or a 17.4% gross operating profit, but after accounting for debt service, the estimated annual cash flow is $494,188.

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    The Ole Asheboro hotel project cost $46,175,000 total or $230,875 per room for 200 rooms. This appears to be within the typical range seen in other areas for similar hotel projects. Operating income for the hotel is projected to be $2,723,432 or a 17.4% gross operating profit, but after accounting for debt service, the estimated annual cash flow is $494,188.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    65 views1 page

    SH of 2

    Uploaded by

    TonyWilkins
    The Ole Asheboro hotel project cost $46,175,000 total or $230,875 per room for 200 rooms. This appears to be within the typical range seen in other areas for similar hotel projects. Operating income for the hotel is projected to be $2,723,432 or a 17.4% gross operating profit, but after accounting for debt service, the estimated annual cash flow is $494,188.

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    of 1

    $46,175,000 or $230,875 per room, the Ole Asheboro hotel does appear to be within the range of

    similar projects in other areasof the country .

    2012 ($200 a night) W..lln Camp {HVS #2) Greensboro A.e~e 2009 Through October (HV5)
    Occupo"'Y ~ 611* 52%
    Tot.IRccms 200 200 200
    """..1" Doily Rote $m.oo $152.00 $116.00
    Re"Por

    Re"enue
    Rooms 9,928,(X» .63.4" 6,6S7,~. 54.8% 4,437,232 36.6%
    96,312 0.8% ,
    To!ecommunfcatlon..Comp 0.014 0 0.01'
    4,430,374 36.5% ,
    rood 3,115,400 19.9% 3,115,400 25.7%
    8e"erale 937,(X» 6.~ o.~ 0.01'
    Other Food & Bo"erale 906,400 S.8% o.~ 0.01'
    RelallCentor 313,320 2.4" o.~' 373,320 3.1"
    Other 298.660 1.~ 854,773 7.~' 298,660 2.5%
    leased ~a 100,(X»' 0.6% 100,000' 08% 100,(XXJ ~.8%
    Total Re\lenue. 15,6S8,780 100.~ 12,139,059 100.~ 8,324,6U 68-6%

    Depanment.1 Profit
    R~oms J,444,843 75.~ 4,992,424 75.~ 3,327,407 75.0!6
    Telecon\munications -124,440 O.~ -124,440 o.~ -124,440 O.~
    Food and Bove131e Depanmenl 1,439,600 29.~ 1,286,192 29.~ !XI4,439 29.~
    Retail Center 145,280 38.9% O 38.9% 145,280 38.9%
    Other 99,560 333% 284,943 33,3% 99,5£0 33.3%
    te..ed Spa tOO,(XX) 100.~ 100,000 100.~ 100,000100.0!(.
    Toto! Deponmental Profit 9,104,843'58.1" 6,539,119' 53.9% 4,452,246 53.5"

    Deductions fr~m Inalme


    AdmlnistraUve& General 1.394,319 89j6 1,~,910 8.~ 1,080,910 8.9%

    Sal~. &Marketin8 937.1!K) 6.~ 726.532 6.016 726,532 6.~


    Complim"nlary Gue.t Service. 27,058 O.Z% 20,976 0.2% 20,976 0.2%
    MarketIng fee (Room Rov"nue X 3~) 319.16S 2~ 247,424 2.~ 247,421\ 2.~
    fr."ch;.eFee (Room Revenue x S.I1%) S31,~S ~4% 4~~376 3.4% 412,376 3.4%
    UI""leo 593.884 3.8% 460.393 3.8% 460,393 3.8%
    Repair and Maintenance 6S7.S66 4.Z% 509,761 4.2% 509,761 4.2%
    ,
    TolalOed..ctlonsfromlncome 4,461,128 ~S" 3,458,373' 28.5% 3,458,373 28.5%

    GrO5. Operatlnl Profit 4,643,7lS' 29.7K 3,~,747. 25.4" 993,873 8.2%

    Mana&ementFeo 469,~63 3!!", 364,172 3.~ 249,738 3.0%


    Fixed Costs
    Re.1 E5tate Taxes. Allowance 3S6.246' 23% 356.246' 2.9% 356,246 2.~
    Insu'.nc:e. Allow.nce 219.223 1.4% 169.947 L4% 116,S4S 1.4"
    RoplacomentRosorve. 313,176 20!6 242.781 2.1rh 166,492 2~
    Tot.r fixed Costs 1.4S0.SW 9.3% 768,974' 6.3% 639,283 S.3%

    Not Oporatlnllnc:omo Bolore Dobt 2.723,43Z'17.4" 1,947,601 160!6 104,852 0.9%

    DobtS.rvlc:e .2.229.244 -2,229,244 -2,229.244


    Ca.h Flow $494,l88 1$2Bl.~31 ($2.124.392)

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