Sheraton Hotel Redding At Sundial Bridge - Redding Record ...

FIGURE 10-1 COMPARABLE OPERATING STATEMENTS: RATIO TO SALES
Comp 1 Comp 2 Comp 3 Comp 4 Comp 5 Subject
Stabilized $
Year: 2008 2007 2007 2005/06 2005/06 2009
Number of Rooms: 180 to 230 140 to 190 310 to 390 200 to 260 230 to 290 130
Days Open: 366 365 365 365 365 365
Occupancy: 75% 78% 86% 72% 76% 75%
Average Rate: $134 $101 $177 $122 $119 $128
RevPAR: $100 $79 $152 $88 $90 $96
REVENUE
Rooms 58.2 % 81.9 % 76.0 % 77.0 % 74.8 % 72.1 %
Food 35.1 14.1 16.1 16.6 18.6 21.8
Beverage 3.9 2.0 2.3 3.8 2.3 3.7
Other Operated Departments 0.8 0.3 0.3 0.6 0.4 0.2
Other Income 2.0 1.8 5.3 2.0 3.9 2.2
Total
DEPARTMENTAL EXPENSES*
100.0 100.0 100.0 100.0 100.0 100.0
Rooms 18.9 30.2 20.3 22.6 24.5 21.0
Food & Beverage 53.3 88.0 70.3 75.0 68.4 73.0
Other Operated Departments 69.2 153.3 295.1 90.7 186.0 1.5
Other Expenses 32.0 63.7 32.7 50.8 40.2 48.0
Total 33.0 40.5 31.1 34.2 35.0 35.1
DEPARTMENTAL INCOME
OPERATING EXPENSES
67.0 59.5 68.9 65.8 65.0 64.9
Administrative & General 7.3 8.4 6.8 10.6 9.1 8.0
Marketing 7.4 5.9 3.9 8.9 10.1 3.6
Franchise Fee 6.1 6.9 7.0 4.5 3.6 5.8
Property Operations & Maintenance 3.3 4.4 3.5 4.6 4.6 3.9
Utilities 4.0 4.9 2.0 4.6 5.0 3.8
Total 28.2 30.5 23.3 33.2 32.4 25.0
HOUSE PROFIT 38.8 29.0 45.6 32.6 32.6 39.9
* Departmenta l expens e rati os are expres s ed as a percentage of departmental revenues
February-2011 Income Capitalization Approach
Sheraton Hotel Redding At Sundial Bridge – Redding, California 71