Daily Financial Report

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The daily financial report is a quick glance at the previous days financial statistics. It is a summary of all the required data management uses on a daily basis from ADR, REVPAR, Occupancy, Total Revenue and much more.

Reviewing this report will allow you to:

  •   Track production
  •   See staff errors
  •   Calculate loss of revenue due to discounting
  •   Prepare for the next 2 weeks

You may access Daily Financial Report by

1) Selecting 'Reports' tab

2) clicking Financial Reports

3) clicking 'Daily Financial Report' 

How to Use Daily Financial Report

Occupancy Rate

With occupancy rate chart you may check your availability, occupancy and blocks rate

This chart will show you both certain dates occupancy (1) as well as month to date occupancy (2) 

Example:

Total room inventory = 30

1) Availability Formula: Total number of rooms on property minus occupied rooms minus blocked rooms (30-9-4=17 or 100%-30%-13.33%=56.67%),

2) Occupancy Formula: Total number of rooms occupied divided by total number of rooms (9 room occupied / 30 rooms total = 30%),

3) Blocks and Holds Formula: Total number of rooms blocked divided by total number of rooms (4 room blocked / 30 rooms total = 13.33%)

Daily Statistics

This section of the report is where the majority of your financial data will be retrieved. Please check the definition of each category below.

Note: Those sections that are in Blue (hyperlink) means that when selected it will re-direct you to the associated report.

  • Items & Services Revenue: Sum of all revenue collected for products that were added to reservations
  • Payments: Sum of all payments collected. This includes all payment types for Reservations and House Accounts.
  • Comps: Number of rooms with a $ 0 price for that date.
    Example: Today is August 10 and you have a 3-day reservation for $100 / night each. The guest comes and complains, so you choose to allow the guest to stay for free tomorrow (August 11). On the report for the 10th, you will see 0 comps, since the room was not made 0 price for the 10th. When you view the report for the 11th the following day, you will see 1 comp. 
  • Walkins: Total number of reservations with the source of Walk-In
  • Number of Guests: Total number of guests that stayed at the property on a specified date
  • Check-Ins / Check Outs: Number of reservations that were checked in / checked out
  • AVG LOS (Nights Stayed): Average length of stay of current In-House, Confirmed, Confirmation Pending and Checked Out reservations. Looks only at how long each reservation has stayed at the property, not how long they are expected to stay - The calculation includes only dates that have passed. Please check the examples below
  • AVG LOS (Total Room Nights): Average length of stay of current In-House, Confirmed, Confirmation Pending and Checked Out reservations - The calculation includes: dates that have passed + upcoming booked nights. Please check the examples below
  • ADR Per Guest: Room Revenue divided by number of guests
  • No Shows: Number of reservations marked as No Show
  • Blocks: Number of “Out of Service” and “Room Block” created for a specified date
  • Adjustments: Total value of all adjustments made on a specified date
  • Total Revenue: Total Revenue of a specific date. This includes Room Rates, Additional Room Revenue (Cancellations, No Show and Manual postings), add-ons and products sold, minus adjustments.

AVG LOS (Total Room Nights) x AVG LOS (Nights Stayed) - Examples

Based on the explanations above, please check some examples

Examples (Considering the current: 2019-03-14) AVG LOS
(Nights Stayed)
AVG LOS
(Total Room Nights)
Start date = 2019-03-13, End date = 2019-03-15 1 2
Start date = 2019-03-14, End date = 2019-03-16 1 2
Start date = 2019-03-07, End date = 2019-03-16 7 9
Start date = 2019-03-01, End date = 2019-03-16 13 15
Start date = 2019-02-01, End date = 2019-03-16
In this case, the system is not considering February in the calculation
13 15
Room Revenue

ADR = Average Daily Rate

  • Formula: Room Revenue(room rates + inclusive taxes only) divided by number of room sold
  • Example: Room Revenue ($2453.15) divided by 9 rooms sold (use occupancy graph above) = $272.572222 rounded up to $272.57

REVPAR = Revenue Per Available Room

  • Formula: (Room Revenue + inclusive taxes + additional room revenue) / (Room inventory x date range)
  • Example:  ($2443.71 + $9.43) / 30 = $81.7716666 rounded up to $81.77

REVPAR Room Revenue: Sum of all room revenue earned for that period (Room Revenue + inclusive taxes + additional room revenue)

ADR Room Revenue: Sum of room rates plus inclusive taxes earned that period (Room rates + inclusive taxes only)

14 Day Forecast

Gives you the 14 day forecast of Occupancy, ADR, Revpar, and room revenue so management can plan accordingly

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