Daily Report

I OBJECTIVE

The objective of this policy is to implement daily revenue report system in order to ensure a smooth and efficient system.

II PROCEDURES

Financial Controller is responsible for the Daily Revenue Report and should ensure that it is completed and submitted to the Owner and the Head Office by the deadline stipulated.

The Daily Revenue Report should be prepared by the Night Audit, checked by Income Auditor and reviewed by the Financial Controller.
The Daily Revenue Report is a private and confidential document. Distribution of this report should be restricted to those persons named on the distribution list and those authorised by the named persons.

Exchange Rate

The USD exchange rate should be stated at the top right hand corner of the report under “1 USD=”. The USD exchange rate should be on the basis of units of currency used in the report per one unit of USD.

Decimals and Rounding

Rounding of $ values should be as follows:

ARR 2 decimal points

All others Nearest $

All % values should be rounded to the nearest 1 decimal point.

All other numbers should be reported to the nearest whole number.

Abbreviations

% OF DOUBLE OCC % Double Occupancy

ARR Average Room Rate

BEV COST % Beverage Cost %

BEV REVENUE Beverage Revenue

CVR Covers

MTD Month to date

OCC% Occupancy %

PAID ROOMS OCC Paid Rooms Occupied

PR YEAR Prior Year

VACANT RM INDICATOR Vacant Room Indicator

Definition of Terms and Ratios
ARR

Room Revenue / Paid Rooms Occupied

Beverage Cost %

Beverage Cost / Beverage Revenue
Food Cost %

Food Cost / Food Revenue


Complimentary

Number of rooms occupied by guests on a gratis basis

House Use

Number of rooms taken out of saleable use for staff accommodation or other hotel use
OCC %

Paid Rooms Occupied / Total Rooms

Out-of-Order

Number of rooms removed from saleable use due to renovation, temporary fault /problem, closure of entire floor

Paid Rooms Occupied

Number of rooms occupied by guests on a paying basis

Total Rooms

Paid Rooms Occupied + Complimentary + House Use + Out-of-Order + Vacant

Total Rooms Occupied

Paid Rooms Occupied + Complimentary + House Use

Vacant

Number of saleable guests' rooms that are not occupied

Vacant Room Indicator

Number of days that vacant rooms was less than 5% of total rooms


Food cover

For purposes of the Covers Report which is prepared as a supplement to the Daily Income Report, a “cover” will be defined as one person consuming any items(s) wherein the sale is credited to food sales.

Average Check

Average check is the total food and beverage revenue divided by the number of guests served during a given period.

Revenue

Each major revenue category is listed in the Daily Revenue Report.

Rental from offices and shoplots should not be reported in the Daily Revenue Report as such revenue is collected monthly and not daily.

Rental of equipment, props, banquet room, exhibition hall and other such income should be included in Misc F&B.

Any income that cannot be classified in the revenue categories listed should be reported in "Others". The description for the “Others” revenue can be left as “Others” or can be changed to a specific description.


Statistics
Food Cost % and Beverage Cost %

This information should be obtained from the Cost Controller's report.

Covers

Only covers for “Today” is required.