酒店管理月报-Aug---Management-Report-of-Project-XF--Vit

Name of EntityVXL Capital Limited Report RefXiangfan Report Date15 Sep 2010 TitleFinancial Report for Aug 2010 ToMina YauFromFrankie Long FL Tony Long TL Reviewe d by CcLloyd Chong NoCaptionReport ObservationFollow up by Xiangfan Hotel Operations Branch XF HOB Profit Loss Account Items MTD Aug 10 1 RevenueThe Aug 2010 YTD revenue variance was adverse RMB 1345k or 36 1 below budget The Aug revenue was RMB 330k against budget of RMB 452k resulted in an adverse variance of RMB 122k which represented MTD 26 9 below budgeted revenue Room Dept Finance Dept The rooms department s revenue was RMB 301k 上月客房收入 350k 本月低于月 49k 本月房间数比上月少 536 间 平均房价比上月增加 3 元 因本月施工 队对酒店房间及外墙等进行全面维修 影响了上门散客及团队的预定 及住房 导致本月团队房数比上月减少 323 间 散客房数比上月减少 193 间 本月调整了房价体系 将上门散客的销售价格在原有基础上提高了 10 元 其中 5 元奖励给员工 增加了员工售房积极性 另外 5 元为酒店 收入 故平均房价比上月有所提高 酒店现已加大会员卡的办理及重 点协议客户的开发 并积极联系襄樊周边旅行社及湖北省外旅行社 有多家单位和旅行社已与酒店签订合作协议 F B Dept Finance Dept The F B Dept s revenue was RMB 42k while its cost was RMB 34k including labor cost F B cost disposables cleanings and gas The benefit was RMB 8k The actual cost rate was 40 below than the budget goal of 45 上月餐饮收入 53k 高于本月 11k 餐饮成本上月 35k 本月收入下降 11k 相应的成本却只降低了 1k 本月团队客人和散客的减少致使餐厅早餐用餐人数减少 导致餐饮收 入的减少 因本月蔬菜及肉类价格的提高 导致食品成本增加 针对 此现状 酒店现已积极与武商超市等大型超市沟通食品及粮油的相关 采购问题 逐步降低成本 Others Finance Dept The Others revenue was RMB 4k was 45 1 below budget 上月其他收入 6k 本月降低了 2k 本月售卖金卡 9 张 比上月少 2 张 加之团队客人的减少致使小商品 的收入比上月减少 505 元 同时其它收入也相应减少 下一步会根据 客人的需要及小商品各类型的售卖情况 调整小商品的品种并加大前 台对小商品的销售力度 2 Cost of SalesThe Aug 2010 YTD cost of sales was 26 3 of revenue versus budget 25 1 an adverse variance of 1 2 The Aug 2010 cost of sales was RMB 83k which represented 25 1 of revenue against budget of 24 3 上月营业成本 87k 占收入的 22 5 本月营业成本 83k 占收入的 25 1 比上月提高了 2 6 本月客房将维修后的房间进行地毯清洗 将两各楼层的房间窗帘送至洗涤 公司清洗 并重新将地巾配到房间致使洗涤成本增加 加之餐饮食品成本 增加 致使酒店营业成本提高 3 Gross Profit Margin The Aug 2010 YTD gross profit margin was 73 7 1 2 below budget Actual Aug 2010 gross profit margin was 74 9 of revenue against budget of 75 7 However Gross profit was 0 8 below budget RMB 247k against budget of RMB 342K 上月实际 301k 本月低于上月 54k 本月严格控制成本 但成本仍然较高 故毛利率较低 4 Undistributed Expenses The was 43 6 of revenue 6 5 over the budget Aug 2010 Budget expenses were 40 1 RMB 181k of revenue and actual expenses were 41 9 RMB 138k of revenue About 1 8 RMB 43k over budget 上月实际比预算低 10 3 本月实际却高于预算 1 8 因本月进行数字电视改造 结算四月到 8 月间的信用卡手续费及 6T 管理制度上墙及由气温升高而致使电费增加等导致本月超预算 Employee Meal Provision was over budget 9 4 RMB 0 6k 本月菜价的上升及销售部和财务部人员由以前一天一餐增至一天两 餐致使食品成本增加 故员工餐超过预算 660 元 Contingency was over budget 7 8 RMB 0 1k 本月襄樊市进行统一的数字电视改造 数字电视费用由以前 2745 元 月增至 4575 元 月 加之本月酒店实施 6T 管理 制作相应 KT 板放到各部门 致使应急费用超预算 Electricity was over budget 5 9 RMB 3k 本月气温较高 有近半个月的气温均在 35 度以上 故酒店房间空 调使用频繁 致使电费增加 5 GOP The Aug 2010 YTD GOP was RMB 694k below budget Actual Aug GOP was 33 RMB 109k against budget of 35 6 RMB 161K resulted in below budget 2 6 上月实际 GOP 超过预算 12 5 本月实际却低于预算 2 6 6 Fixed expenses The Aug 2010 YTD fixed expense was RMB k 38 8 of revenue against budget of RMB 1277k 34 The Aug 2010 fixed expenses were RMB 1112k 33 9 of revenue against budget of RMB 150k 33 2 7 EBITDA The Aug 2010 YTD EBITDA was minus 8 8 of revenue against a budget of 3 8 Budgeted Aug EBITDA was RMB 11k 2 4 of revenue compared to actual of negative RMB 3k minus 0 1 of revenue 8 Depreciation Amortization The Augl 2010 YTD depreciation amortization was RMB 403k or 16 7 of revenue Actual Aug depreciation and amortization was RMB 50k 15 2 against budget of RMB 51k 11 4 9 Net profit loss The Aug 2010 YTD actual net loss was RMB 614k against budget net loss of RMB 270K Actual Aug net profit was RMB 53K versus a budgeted loss of RMB 41k 10 PBT Accumulative The 2009 retained earnings were minus RMB 359k The accumulative PBT was RMB 293k up to Aug 2010 Xiangfan Asset Company XF Asset Co Profit Loss Account Items YTD Jul 10 11 Loss from operation This category mainly comprises Corporation expenses and Operating expense Total Corporation Expenses was RMB 12k for the Period of which audit fee included in this expense category were RMB 9 3k 78 8 The Operating Expenses for the Period was RMB 1 984k principally comprising depreciation 90 8 business trip 4 5 land use tax and housing property tax 4 3 12 Profit Loss Actual Net loss for 2010 was RMB 1 996k 13 PBT Accumulative The 2009 retained earnings were minus RMB 4 088k The accumulative PBT was minus RMB 6 084k from opening to Jun 2010 Combined XF HOB and XF Asset Co Bottom Line YTD Apr 10 14 Total Project PBT 2010 The combined PBT of the XF HOB and XF Asset Co form Jan to Jun 2010 was negative RMB 1 455k Based on a 7 month period the average loss per day was RMB 6 929 15 Total Project XF PBT Accumulative The combined PBT of the XF HOB and XF Asset Co from hotel opening to Apr 2010 was negative RMB 5 902k Based on a 10 month period the average loss per day was RMB 19 673 No corporate income tax has been incurred during the Period XF HOB Balance Sheet Items YTD Apr 10 16 Fixed AssetsTotal net book value is RMB 9 3k included front desk strongbox finance strongbox and police connection system 17 Current Assets Total current assets are RMB 1 196k mainly included cash RMB 669k which represented 55 9 The high cash balance is due to the cash advances made by U Inns Hospitality Mgnt Shanghai Co Ltd and Chengdu Asset Co for operating uses These advances were made during pre opening period Account receivable RMB 288k was 24 1 of current assets noting that hotel finance department and sales department were chasing for it each month 18 Current Liabilities The current liabilities are mainly inter company payable from U Inns Hospitality Mgnt Shanghai Co Ltd RMB 751k and Chengdu Asset Co RMB 41k XF Asset Co Balance Sheet Items YTD Dec 09 19 Fixed Assets The net book value of these assets are Buildings22 488 367 04 Machinery0 00 Furniture equipment3 298 337 20 Low value consumables148 906 55 Land use right1 194 484 00 Other fixed assets4 400 72 Total27 134 495 51 20 Current AssetsCurrent assets mainly cash inter company receivables amounted to RMB 676k 21 Current Liabilities Current liabilities comprises two categories i e account payable 4 9 and inter company payables 94 4 APPENDIX 1 PROFIT AND LOSS ACCOUNT Y T D 31 JULY 2010 Description YTD Jul 10 XF HOB BudgetActualVariance Avg Room Rate 133 00 110 00 23 00 Occupancy Rate58 0 44 7 13 3 Room Night Demand 3 250 57 2 474 79 775 78 Net Revenue Exclude BT 3 303 001 38 2 079 656 57 1 223 344 81 37 0 Department costs and expenses Rooms Dept 463 757 34 352 145 80 111 611 54 F B Dept 261 330 47 181 965 93 79 364 54 Others 107 194 80 17 684 44 89 510 36 Total Dept Cost 832 282 61 551 796 17 280 486 44 25 2 26 5 1 3 Departmental Profit 2 470 718 77 1 527 860 40 942 858 37 74 8 73 5 1 3 Undistributed Expenses 23 839 48 Administration General 550 618 62 314 029 54 236 589 08 Sales and Marketing 221 988 33 142 282 79 79 705 54 Property Operating Maintenance 108 250 00 100 339 14 7 910 86 Energy and Utilities 332 534 82 356 374 30 23 839 48 Total Undist Exp 1 213 391 78 913 025 77 300 366 01 36 7 43 9 7 2 Total Operating Cost 2 045 674 39 1 464 821 94 580 852 45 Gross Operating Profit 1 257 326 99 614 834 63 642 492 36 38 1 29 6 8 5 Fix Chargs 1 126 910 84 822 837 96 304 072 89 34 1 39 6 EBITDA 130 416 15 208 003 33 338 419 48 3 9 10 0 14 0 Depreciation Amortization 359 689 36 352 224 74 7 464 62 PBT actual 229 273 21 560 228 07 330 954 85 Income Tax PAT actual 229 273 21 560 228 07 330 954 85 Total Adjustments 1 100 809 83 PBT in account 2010 540 581 76 Retained earnings 2009 358 164 79 PBT in account Accumulative 182 416 97 XF Asset Co Other income Interest income 209 88 209 88 Corporate expenses Audit fee 9 300 00 Registration and license fee 2 500 00 11 800 00 Operating expenses Bank charge 1 241 50 Business travel 88 456 95 Depreciation hotel properties 1 783 736 08 Depreciation land use right 18 376 68 Depreciation Other fixed assets 727 02 Excghange difference 6 115 41 Land use tax 22 293 84 Photocopy 70 00 Property tax 62 306 48 Stamp duty 818 90 1 984 142 86 Loss from operation 1 995 732 98 Profit Loss for the year 1 995 732 98 Retained earnings 2009 4 088 450 61 PBT in account Accumulative 6 084 183 59 Combined XF HOB XF Asset Co Total Project PBT in account 2010 1 455 151 22 Total Project PBT in account Accumulative 5 901 766 62 APPENDIX 2 BALANCE SHEET AS AT 31 JULY 2010 Sch ve ve XF HOB Asset XF Co RMBRMB ASSETS Net book value Buildings122 488 367 04 Net book value Machinery19 321 03 0 00 Net book value Furniture equipment13 298 337 20 Net book value Low value consumables1148 906 55 Net book value Land use right11 194 484 00 Net book value Other fixed assets1 ve4 400 72 a9 321 03 27 134 495 51 Current assets Account Receivable2 ve288 288 08 Other Receivable3 ve33 171 34 85 000 00 Staff advancve payment5 ve10 600 00 Other deposits8 ve53 060 00 Cash at bank in hands9 ve668 968 24 553 890 37 Amount due from U Inns Hospitality Shanghai ve40 512 05 Amount due from U Inns Xiang Fan ve34 196 33 Amount deu from U Inns Chengdu ve6 238 80 Amount due from U Inns Information Technology SH ve37 029 00 Stock61 218 60 b1 196 253 44 675 919 37 Current liabilities Account Payabl