In a nutshell you want to know what is going on in the hotel relative to making the budget/forecast for the month and any pertinent property issues that may affect future earnings one way or another. It is kind of a snapshot “full-disclosure” principle mini pop.
Some items to include:
Revenues-to-date vs. variance-to-latest forecast, room rev, occ, rate revpar – Are you doing a monthly forecast with daily details? Weekly numbers and comments. Same for F&B and other sources if we have them.
Pace – How are the bookings in the month for the month coming together vs. latest forecast and budget 30/60/90 days? Are we going to make revenues? This is a critical distant early warning tool that hotel managers need to be plugged into EVERY DAY. Weekly numbers and comments.
Staffing issues – New hires, departures, disciplinary actions, union activity, if applicable.
Market conditions and REVPAR index performance vs. competitive set – STR results and commentary on RGI, MPI and ARI. New hotel activity, other hotels renovations.
Capital update – Any ongoing projects, same with maintenance issues? Numbers and comments.
Social Media – High-level update on activities such as comments on Trip Advisor or posts on Instagram/Facebook.
Operational Issues – Ongoing dialog on challenges and successes, i.e., cleaning challenges, Covid restrictions, weather, inspections, guest issues, any other pertinent issues.
Cash AP/AR – If the property manages their cash what are the current levels and forecast/issues.
GOP – Latest update on forecasted GOP for the month plus 60- and 90-day view – high Level numbers and comments.
Usually this is laid out in a dashboard type of template where numbers can be cut/pasted from other sources and comments written.
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