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Table of Contents

HOST Job #: 226601 / Date Created: Nov 01, 2021
Custom HOST Report
Norfolk-Virginia Beach Market Full Service
Data for End of 2020 & 2019
Table of Contents 1
Summary 2
Revenue 3
Departmental Expenses 4
Undistrib Operating Expenses 5
Selected Fixed Charges 6
Participation Report 7
Definitions 8
Help 9
Corporate North American Headquarters International Headquarters
T: +1 (615) 824 8664 T: +44 (0) 207 922 1930
[email protected] www.str.com [email protected] www.str.com
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc.

Summary

2020 Props: 4 2019 Props:
Rooms: 842 Rooms:
Occupancy: 37.3% Occupancy:
ADR: $132.87 ADR:
RevPAR: $49.53 RevPAR:
TrevPAR: $58.40 TrevPAR:
2021 Custom HOST Report GOPPAR: $14.56 GOPPAR:
Summary
Currency: USD 2020 2019 Variance %
Ratio to Sales 1 Amount Per Available Room Amount Per Occupied Room Night Ratio to Sales 1 Amount Per Available Room Amount Per Occupied Room Night Amount Per Available Room Amount Per Occupied Room Night
REVENUE % $ $ % $ $ % %
Rooms 84.8 % $ 18,128 $ 132.87 72.9 % $ 36,147 $ 137.95 % %
Food 7.8 1,661 12.18 12.8 6,356 24.26
Beverage 1.5 315 2.31 3.6 1,792 6.84
Other Food & Beverage 2.3 497 3.64 8.8 4,363 16.65
Other Operated Departments 2.0 436 3.19 1.2 596 2.27
Miscellaneous Income 1.6 337 2.50 0.7 363 1.40
TOTAL REVENUE 100.0 % $ 21,373 $ 156.66 100.0 % $ 49,616 $ 189.35 % %
DEPARTMENTAL EXPENSES
Rooms 25.3 % $ 4,588 $ 33.63 23.0 % $ 8,331 $ 31.79 % %
Food & Beverage 85.3 2,110 15.47 67.6 8,462 32.29
Other Operated Departments 33.7 147 1.08 43.9 262 1.00
TOTAL DEPARTMENTAL EXPENSES 32.0 % $ 6,845 $ 50.18 34.4 % $ 17,054 $ 65.08 % %
DEPARTMENTAL PROFITS
Rooms 74.7 % $ 13,539 $ 99.24 77.0 % $ 27,816 $ 106.16 % %
Food & Beverage 14.7 363 2.66 32.4 4,049 15.45
Other Operated Departments 66.3 289 2.12 56.1 334 1.28
TOTAL DEPARTMENTAL PROFITS 68.0 % $ 14,528 $ 106.49 65.6 % $ 32,563 $ 124.27 % %
UNDISTRIBUTED OPERATING EXPENSES
Administrative & General 12.5 % 2,672 19.59 9.2 % 4,586 17.50 % %
Information & Telecommunications Systems 1.2 259 1.90 0.9 465 1.77
Marketing (excluding Franchise Fees) 8.2 1,753 12.85 8.3 4,137 15.79
Franchise Fees (royalty and marketing) 7.2 1,539 11.28 4.1 2,036 7.77
Utility Costs 6.7 1,423 10.43 3.6 1,794 6.85
Property Operation & Maintenance 7.3 1,552 11.38 4.4 2,173 8.29
TOTAL UNDISTRIBUTED OPERATING EXPENSES 43.0 $ 9,199 $ 67.43 30.6 $ 15,191 $ 57.97 % %
GROSS OPERATING PROFIT 24.9 % $ 5,329 $ 39.06 35.0 % $ 17,372 $ 66.30 % %
Base Management Fees 3.0 $ 645 $ 4.73 2.9 $ 1,432 $ 5.46
Incentive Management Fees - 0 - 0 - 0 - 0 14 0.05
INCOME BEFORE FIXED CHARGES 21.9 % $ 4,684 $ 34.33 32.1 % $ 15,927 $ 60.78 % %
SELECTED FIXED CHARGES
Non-Operating Income - 0 % $ 8 $ 0.06 - 0 % $ (24) $ (0.09) % %
Rent 0.4 $ 94 $ 0.69 0.3 $ 142 $ 0.54
Property Taxes 7.9 1,689 12.38 3.6 1,777 6.78
Insurance 3.1 661 4.84 0.9 443 1.69
EBITDA 10.4 % $ 2,231 $ 16.36 27.4 % $ 13,588 $ 51.86 % %
Reserve For Capital Replacement 3.2 692 5.07 1.3 624 2.38
SUPPLEMENTAL PAYROLL ANALYSIS 3
Rooms 15.6 % $ 2,824 $ 20.70 14.3 % $ 5,172 $ 19.74 % %
Food and Beverage 49.3 1,450 9.45 34.0 4,250 16.22
Other Operated Departments
Administrative & General 6.2 1,326 9.72 4.0 1,967 7.51
Information & Telecommunications
Marketing 3.0 644 4.72 3.8 2,032 7.50
Property Operations & Maintenance 2.8 605 4.44 1.6 777 2.97
TOTAL LABOR COSTS 30.8 % $ 6,589 $ 48.29 28.2 % $ 13,978 $ 53.35 % %
SUPPLEMENTAL FOOD & BEVERAGE INFORMATION 3
Cost of Food Sales 31.6 % $ 526 $ 3.85 35.3 % $ 2,241 $ 8.55 % %
Cost of Beverage Sales 26.4 102 0.83 19.2 343 1.31
Total Cost of F&B Sales 24.6 % $ 609 $ 4.46 20.7 % $ 2,584 $ 9.86 % %
Food & Beverage Labor 49.3 % $ 1,450 $ 9.45 34.0 % $ 4,250 $ 16.22 % %
Food & Beverage Other Expenses 12.6 % $ 312 $ 2.28 13.0 % $ 1,628 $ 6.21 % %
1 Ratio to Sales for departmental expenses and profits are based on their respective departmental revenues. All other expense ratios are based on total revenue.
2 EBITDA does not include Depreciation and Amortization, Interest, nor Income Taxes
3 Labor and Costs of Sales are included in expenses. Amounts shown here are for additional detail only. Not all participants provide detailed data on payroll and F&B costs; therefore, the following supplemental analyses
provide the ratios for only these hotels in the samples that reported detailed information. Consequently, the amounts may not tie to the departmental figures provided.
Please note for summary tab:
Totals may not add due to rounding
Ratio to sales based on Total Revenue, except Departmental Expenses
Per Available Room based on total total number of hotel rooms
Per Occupied Room Night based on total number of occupied rooms
The information contained in this report is based upon independent surveys and research from sources considered reliable. However, no representation is made as to its completeness or accuracy. THE INFORMATION IS PROVIDED AS-IS. This information shall not be construed as either a recommendation by STR of any industry standard or as legal, investment, or tax advice.
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc.

Revenue

Please note for detailed tabs:
Ratio to sales based on Total Revenue of only those hotels that reported each line item, respectively
Totals may not add up due to each line item being based on different totals
Blank cells indicate insufficient data to report
2021 Custom HOST Report
Revenue Detail
Currency: USD 2020 2019 Variance %
Ratio to Sales 1 Amount Per Available Room Amount Per Occupied Room Night Ratio to Sales 1 Amount Per Available Room Amount Per Occupied Room Night Amount Per Available Room Amount Per Occupied Room Night
REVENUE % $ $ % $ $ % %
Rooms
Transient Revenue 72.4 % $ 12,795 $ 103.88 53.5 % $ 26,523 $ 101.22 % %
Group Revenue 8.6 1,519 12.33 17.3 8,604 32.84
Rooms Other 1.5 264 2.15 2.1 1,020 3.89
Service Charges
Food
Venues 2.7 576 4.22 2.9 1,417 5.41
In-Room Dining 0.5 273 1.01
Banquet/Catering 5.2 1,280 8.35 10.3 5,500 20.29
Mini Bar
Other
Beverage
Venues 1.3 222 1.80 2.2 1,079 4.12
In-Room Dining - 0 22 0.08
Banquet/Catering 1.0 213 1.50 1.5 808 2.98
Mini Bar
Other
Other F&B Revenue
Meeting Room Rental 0.5 60 0.65 5.2 2,571 9.81
Audiovisual 1.1 567 2.09
Service Charges 1.8 315 2.56 2.5 1,239 4.73
Other 1.5 258 2.10 0.2 75 0.29
Other Operated Departments
Golf
Green Fees
Cart Rental Income
Retail
Membership Fees
Other Golf Revenue
Spa
Spa Treatment Revenue
Salon Revenue
Retail
Other Spa Revenue
Other
Transportation/Garage/Parking 0.8 421 1.61
Telecommunications 0.1 16 0.12 - 0 22 0.08
Other Operated Departments 1.9 466 3.04 0.6 346 1.28
Miscellaneous Income 1.6 337 2.50 0.7 363 1.40
TOTAL REVENUE 100.0 % $ 21,373 $ 156.66 100.0 % $ 49,616 $ 189.35 % %
The information contained in this report is based upon independent surveys and research from sources considered reliable. However, no representation is made as to its completeness or accuracy. THE INFORMATION IS PROVIDED AS-IS. This information shall not be construed as either a recommendation by STR of any industry standard or as legal, investment, or tax advice.
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc.

Departmental Expenses

Please note for detailed tabs:
Departmental Ratio to Sales based on Departmental Revenue of only those hotels that reported each line item, respectively
Totals may not add up due to each line item being based on different totals
Blank cells indicate insufficient data to report
2021 Custom HOST Report
Departmental Expenses Detail
Currency: USD 2020 2019 Variance %
Ratio to Sales 1 Amount Per Available Room Amount Per Occupied Room Night Ratio to Sales 1 Amount Per Available Room Amount Per Occupied Room Night Amount Per Available Room Amount Per Occupied Room Night
DEPARTMENTAL EXPENSES % $ $ % $ $ % %
Rooms
Salaries & Wages 11.6 % $ 2,094 $ 15.35 11.5 % $ 4,154 $ 15.85 % %
Payroll Taxes & Benefits 4.0 730 5.35 2.8 1,017 3.88
Reservation System Fees 0.4 81 0.53 0.2 80 0.29
All Other Room Expenses 7.0 1,270 9.31 7.2 2,618 9.99
Food & Beverage
Salaries & Wages 37.0 1,086 7.08 27.4 3,434 13.11
Payroll Taxes & Benefits 12.4 364 2.37 6.5 815 3.11
Cost of Food 31.6 526 3.85 35.3 2,241 8.55
Cost of Beverage 26.4 102 0.83 19.2 343 1.31
All Other F&B Expenses 12.6 312 2.28 13.0 1,628 6.21
Other Operated Departments
Golf
Salaries & Wages
Payroll Taxes & Benefits
Cost of Retail
Golf Operations
Course Maintenance
Other Expenses
Spa
Salaries & Wages
Payroll Taxes & Benefits
Cost of Retail
Other Expenses
Parking
Salaries & Wages
Payroll Taxes & Benefits
Other Expenses 8.2 35 0.13
Other
Salaries & Wages
Payroll Taxes & Benefits
All Other Expenses 38.2 178 1.16 59.9 207 0.77
TOTAL DEPARTMENTAL EXPENSES 32.0 % $ 6,845 $ 50.18 34.4 % $ 17,054 $ 65.08 % %
The information contained in this report is based upon independent surveys and research from sources considered reliable. However, no representation is made as to its completeness or accuracy. THE INFORMATION IS PROVIDED AS-IS. This information shall not be construed as either a recommendation by STR of any industry standard or as legal, investment, or tax advice.
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc.

Undistrib Operating Expenses

Please note for detailed tabs:
Ratio to sales based on Total Revenue of only those hotels that reported each line item, respectively
Totals may not add up due to each line item being based on different totals
Blank cells indicate insufficient data to report
2021 Custom HOST Report
Undistributed Operating Expenses Detail
Currency: USD 2020 2019 Variance %
Ratio to Sales 1 Amount Per Available Room Amount Per Occupied Room Night Ratio to Sales 1 Amount Per Available Room Amount Per Occupied Room Night Amount Per Available Room Amount Per Occupied Room Night
UNDISTRIBUTED OPERATING EXPENSES % $ $ % $ $ % %
Administrative & General
Salaries & Wages 4.9 % $ 1,049 $ 7.69 3.2 % $ 1,591 $ 6.07 % %
Payroll Taxes & Benefits 1.3 276 2.02 0.8 377 1.44
Credit Card Commissions 2.3 485 3.55 1.7 858 3.27
All Other Expenses 4.0 862 6.32 3.5 1,761 6.72
Information & Telecommunications Systems
Salaries & Wages % % % %
Payroll Taxes & Benefits
All Other Expenses 1.8 320 2.60 0.9 465 1.77
Sales & Marketing
Salaries & Wages 2.2 472 3.46 2.8 1,523 5.62
Payroll Taxes & Benefits 0.8 172 1.26 1.0 509 1.88
Franchise Royalty Fee 4.3 1,075 7.01 3.4 1,828 6.75
Franchise and Affiliation Advertising 3.2 800 5.22 1.0 532 1.96
Loyalty Programs and Affiliation Fees 2.0 495 3.23 1.7 931 3.43
Other Expenses 3.3 704 5.16 3.2 1,582 6.04
Utility Costs
Electricity 3.6 885 5.77 1.4 755 2.78
Gas 0.5 120 0.78 0.3 142 0.52
Water & Sewer 2.2 534 3.48 0.9 496 1.83
Other 0.0 4 0.03 0.0 4 0.01
Property Operations & Maintenance
Salaries & Wages 2.1 456 3.34 1.3 625 2.38
Payroll Taxes & Benefits 0.7 150 1.10 0.3 152 0.58
All Other Expenses 4.4 947 6.94 2.8 1,396 5.33
TOTAL UNDISTRIBUTED OPERATING EXPENSES 43.0 % $ 9,199 $ 67.43 30.6 % $ 15,191 $ 57.97 % %
The information contained in this report is based upon independent surveys and research from sources considered reliable. However, no representation is made as to its completeness or accuracy. THE INFORMATION IS PROVIDED AS-IS. This information shall not be construed as either a recommendation by STR of any industry standard or as legal, investment, or tax advice.
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc.

Selected Fixed Charges

Please note for detailed tabs:
Ratio to sales based on Total Revenue of only those hotels that reported each line item, respectively
Totals may not add up due to each line item being based on different totals
Blank cells indicate insufficient data to report
2021 Custom HOST Report
Selected Fixed Charges Detail
Currency: USD 2020 2019 Variance %
Ratio to Sales 1 Amount Per Available Room Amount Per Occupied Room Night Ratio to Sales 1 Amount Per Available Room Amount Per Occupied Room Night Amount Per Available Room Amount Per Occupied Room Night
SELECTED FIXED CHARGES % $ $ % $ $ % %
Income
Non-Operating Income % - 0 % $ (24) $ (0.09) % %
Rent
Land/ Building % % % %
Equipment 0.2 43 0.28 0.1 50 0.19
Other 0.9 111 1.20
Taxes
Real Estate Taxes 5.1 % $ 1,266 $ 8.26 2.6 % $ 1,378 $ 5.09 % %
Personal Property Taxes 0.9 219 1.43 0.4 211 0.78
Other Taxes 3.0 630 4.45 0.2 117 0.41
Insurance
Building & Contents 2.0 507 3.30 0.5 261 0.97
Liability 0.8 210 1.37 0.3 171 0.63
Other 0.4 84 0.59 0.1 71 0.26
Other Fixed Charges 1.7 559 3.00
EBITDA / NET OPERATING INCOME 10.4 % $ 2,231 $ 16.36 27.4 % $ 13,588 $ 51.86 % %
The information contained in this report is based upon independent surveys and research from sources considered reliable. However, no representation is made as to its completeness or accuracy. THE INFORMATION IS PROVIDED AS-IS. This information shall not be construed as either a recommendation by STR of any industry standard or as legal, investment, or tax advice.
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc.

Participation Report

Custom HOST P&L Report Data Set Requirements:
1. All data request samples must include a minimum of four (4) reporting hotels for each year.
2. One brand or property can account for a maximum of 50% of aggregate room supply among reporting hotels in set.
3. One parent company can account for a maximum of 70% of aggregate room supply among reporting hotels in set.
4. To receive last year data in addition to this year data, apply the minimum of four (4) and 50/70 rules to hotels with prior year data.
5. Changes to any HOST P&L report must involve a minimum of two (2) reporting hotels (cannot add/delete one hotel).
HOST P&L Participation Report 6. Full Service and Limited Service Hotels cannot be mixed on one report.
Full-Service: Norfolk-Virginia Beach Market Full Service 7. There is no maximum number of properties that may be included in a Custom HOST P&L Report.
8. To order a Custom HOST P&L Report, please email [email protected].
Job #: 226601
STR # PROPERTY NAME CITY ST ZIP ROOMS SUBMARKET NAME FULL / LIMITED CLASS BRAND PARENT COMPANY 2020 2019
27540 Courtyard Williamsburg Busch Gardens Area Williamsburg VA 23185-5646 151 Williamsburg, VA Full Upscale Class Courtyard Marriott International • •
44830 Courtyard Virginia Beach Oceanfront North 37th Street Virginia Beach VA 23451-2708 160 Virginia Beach, VA Full Upscale Class Courtyard Marriott International • •
53218 Embassy Suites by Hilton Hampton Hotel Convention Center & Spa Hampton VA 23666-4294 295 Newport News/Hampton, VA Full Upper Upscale Class Embassy Suites by Hilton Hilton Worldwide • •
54158 Marriott Newport News @ City Center Newport News VA 23606-4274 256 Newport News/Hampton, VA Full Upper Upscale Class Marriott Marriott International •
54438 Westin Virginia Beach Town Center Virginia Beach VA 23462-2739 236 Virginia Beach, VA Full Upper Upscale Class Westin Marriott International • •
Total Properties: 5 Total Rooms: 1,098
The information contained in this report is based upon independent surveys and research from sources considered reliable. However, no representation is made as to its completeness or accuracy. THE INFORMATION IS PROVIDED AS-IS. This information shall not be construed as either a recommendation by STR of any industry standard or as legal, investment, or tax advice.
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc.

Definitions

Definitions
Administrative and General Expense Included in this category are the payroll and related expenses for the general manager, human resources and training, security, clerical staff, controller, and accounting staff. Other A&G expenses include office supplies, computer services, accounting and legal fees, cash overages and shortages, bad debt expenses, travel insurance, credit card commissions, transportation (non-guest) and travel and entertainment.
Audio Visual Revenues and commissions derived from supplying audiovisual equipment and services to customers, whether the equipment is owned by the property or rented from a third party.
Banquet/Catering Beverage Revenue Beverage sales in the property's banquet rooms and for group functions outside the hotel.
Banquet/Catering Food Revenue Sales of food in a property's banquet rooms and for group functions outside the property.
Beverage Revenue Revenues derived from the sale of beverages, including beer, wine and liquors.
Course Maintenance Expenses related to the maintenance of the golf course.
Food Revenue All sales of food and non-alcoholic beverages for consumption by customers.
Franchise and Affiliation Advertising Includes only the advertising assessment portion of the franchise fees.
Franchise Fees Includes royalty fees and advertising assessment charged by franchise companies. Reservation system fees are included in the Rooms department.
Franchise Royalty Fee Includes only the royalty fee portion of the franchise fees.
Golf-Cart Rental Income Revenue derived from the rental of golf carts.
Golf-Green Fees Revenue derived from charges to customers for playing golf on the golf course.
Golf-Membership Revenue derived from charging customers for a "membership" at the golf course, which allows the "member" to exercise privileges not given to the general public.
Golf Operations Expenses related to the operation of the golf course including the pro shop or clubhouse. Does not include course maintenance expenses.
Golf-Other Revenue from providing any other services not previously specified.
Golf-Retail Revenue derived from all sales of merchandise and clothing in the golf-shop or anywhere on the golf course.
In-Room Dining Beverage Revenue Beverage sales that require delivery to customers in their guestroom.
In-Room Dining Food Revenue Sales of food that require delivery to customers in the guestroom.
Insurance Cost of insuring the hotel building and contents against fire, weather, sprinkler leakage, boiler explosion, plate glass breakage, or other perils. Includes all insurance except workers’ compensation.
Loyalty Program and Affiliation Fees Includes the loyalty program fees associated with the franchise.
Management Fees Fees charged by management organizations for management services or supervision.
Marketing Expense Includes payroll and related expenses for the sales and marketing staff, direct sales expenses, advertising and promotion, travel expenses for the sales staff, and civic and community projects. Does not include franchise fees such as royalty fees, advertising assessments, and loyalty program fees charged by the franchise company.
Mini Bar Beverage Revenue Sales of packaged beverages (bottles and cans) placed in a guestroom.
Mini Bar Food Revenue Sales of packaged food placed in a guestroom; candy, snacks, soft drinks.
Miscellaneous Income Income from rentals of space for business purposes, including concessions in any of the departments mentioned under other operated departments. This also includes cancellation fees and resort fees.
Number of Occupied Room Nights Rooms occupied by hotel guests on a paid basis.
Number of Room Nights Available Number of Rooms in hotel times number of days (365) reporting.
Other Beverage Revenue Sales of consumable beverage items not designated as Venue, In-Room Dining, Banquet/Catering, or Mini Bar revenues.
Other Fixed Charges Includes any other expenses that relate to the ownership of the hotel and gains or losses from any sale of assets. Does not include owner's expense, interest, income taxes, depreciation, and amortization.
Other Food Revenue Sales of consumable food items not designated as Venue, In-Room Dining, Banquet/Catering, or Mini Bar revenues.
Other Operated Department Revenue Revenue derived from other departments not including golf, spa, parking, and telecommunications.
Payroll and Related Expenses Includes salaries and wages of departmental personnel and management including overtime, severance, incentive, holiday, sick, vacation, and bonus pay.
Property Operations and Maintenance Includes payroll and related expenses for maintenance personnel, cost of maintenance supplies, cost of repairs and maintenance of the building, furniture and equipment, the grounds, and the removal of waste.
Property Taxes Typically include taxes on real estate, business and occupation, personal property, utilities, and other municipal taxes.
Rent Includes charges for lease of land and/or building and capital leases for rental of data processing equipment, telephone equipment and other major items.
Reservation System Fees Fees charged by franchisors for the use of national reservation systems.
Reserve for Capital Replacement Amount set aside for replacement of furniture, fixtures, and equipment (as may be required by loan, franchise or management agreement).
Room Rental Revenue derived from the rental of public meeting rooms to customers.
Rooms - Group Revenue Revenues derived from renting blocks of 10 or more rooms or suites per night to a group.
Rooms - Other Other revenue associated with an occupied room; no shows, service charges, and late checkout fees. This does not include resort fees, which should be included in Miscellaneous Income.
Rooms - Service Charges Automatic charges added to the room rate to help cover the cost of staff service to the customer. This does not include resort fees, which should be included in Miscellaneous Income.
Rooms - Transient Revenue Revenues derived from rental of rooms and suites by individuals or groups occupying less than 10 rooms per night.
Rooms Revenue Revenues derived from the rental of sleeping rooms at the hotel, net of any rebates and discounts.
Salaries & Wages Earnings paid to an employee, such as regular pay, overtime pay, and shift differential pay.
Service Charges Automatic charges added to any food sale to help cover the cost of staff service to the customer.
Spa-Other Revenue from providing any other services not previously specified.
Spa-Retail Revenue derived from sales of merchandise and clothing in the health club/spa.
Spa-Salon Revenue Revenue derived from any salon related services.
Spa-Treatment Revenue Revenue derived from health treatments such as facials, body wraps, and mud packs.
Telecommunications Revenue Revenue derived from phone, internet, and other telecommunications.
Transportation/Garage/Parking Revenue derived from parking or shuttles for hotel guests.
Utility Costs Includes electricity, fuel (oil, gas, and coal), purchased steam, and water. Includes central plant and energy management systems. (Does not include waste removal, which is included in Property Operation and Maintenance Expenses).
Venue Beverage Revenue Beverage sales in specific dining areas in the property.
Venue Food Revenue Sales of food in specific dining areas in the property.
Source: 11th revised edition of the Uniform System of Accounts for the Lodging Industry
The information contained in this report is based upon independent surveys and research from sources considered reliable. However, no representation is made as to its completeness or accuracy. THE INFORMATION IS PROVIDED AS-IS. This information shall not be construed as either a recommendation by STR of any industry standard or as legal, investment, or tax advice.
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc.

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