How to Create Owners Operating Report
How to access the Hospitality Owner’s Operating Statement
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From the top navigation menu, select 'Reports'. Select 'Management Reports' > 'Owners Operating Report' from the subsequent drop-down menu.
To tailor the report to your needs, you can customize the column parameters (Per Available Room, Per Occupied Room, etc) before generating it. Once the report is generated, take the time to review the detailed results. This will enable you to gain valuable insights into the performance of your revenue and ensure financial accuracy.
Report Customization
1. Click 'Customize' drop down to add new columns to the report, namely Percentage Column, Last Year, Per Available Room (PAR), Per Occupied Room (POR), Budgets Comparison, and Forecast Comparison.
3. You can also customize the report columns for multiple months. Select the date range.
4. The table below provides the formula for calculating PAR $ (Per Available Room) and POR $ (Per Occupied Room) for both the Period to Date and Year to Date, respectively. This information can be found in row 3 of the below table.
PTD (Period To Date)
YTD (Year To Date)
PTD $
PAR $
POR $
YTD $
PAR $
POR $
PTD
Amount
(PTD Amount) ÷ (Rooms Available to Sell)
(PTD Amount) ÷ (Rooms Sold)
YTD
Amount
(YTD Amount) ÷ (Rooms Available to Sell)
(YTD Amount) ÷ (Rooms Sold)
You can also customize the columns in the report at the first level of data drill-down using the drop-down menu. This allows you to personalize the report further and tailor it to your specific needs.
To export your report to Excel or PDF format, go to the top right corner of the report page and find the three-dots menu icon (...). Click on the three dots to reveal the menu options, and from there, select either 'Export as Excel' or 'Export as PDF'.
A notification will appear, indicating that the report can be downloaded from the 'Data Export' section of Docyt.
To download the report, navigate to the 'Gear Icon' on top right corner near your profile icon.
Click on 'View All'.
On the 'Data Export' page, click on the ellipsis menu and select the 'Download' option.
Components and Sections of Owner's Operating Statement
The Owner's Operating Statement report consists of several essential components and sections that provide valuable insights into the financial performance of a hospitality business. These include:
Summary:
This section offers an overview of key metrics such as the number of rooms available for sale, rooms sold, occupancy percentage, average daily rate (ADR), and revenue per available room (RevPAR).
Operating Revenue:
Here, the report breaks down revenue sources, including room revenue, revenue from other departments, and miscellaneous income.
Departmental Expenses:
This section outlines the expenses specific to each department, such as room expenses and expenses related to other operated departments.
Departmental Income:
Highlighting income generated by different departments, this section includes room income, income from other departments, and miscellaneous income.
Undistributed Operating Expenses:
Expenses that are not directly allocated to specific departments, such as administrative costs, are represented in this section.
Gross Operating Profit:
This section indicates the profit generated after deducting departmental expenses and undistributed operating expenses from operating revenue. It also calculates the gross operating profit percentage.
These components and sections of the report provide a comprehensive understanding of the financial performance of a hospitality business, allowing owners and managers to make informed decisions and improve profitability.
Benefits
The Owner's Operating Statement report offers several key benefits to owners and managers in the hospitality industry. One of the main advantages is the ability to assess profitability. By providing a detailed breakdown of revenue and expenses, the report allows owners to evaluate the financial performance of their hospitality business. They can identify areas of high revenue generation and pinpoint areas where costs can be optimized to improve the bottom line.
Additionally, the report enables owners to make informed financial decisions. With a clear understanding of their business's financial performance, owners can strategically plan pricing strategies, implement adequate cost controls, identify investment opportunities, and allocate resources efficiently. This report is a valuable tool for owners to align their financial strategies with their business objectives, ultimately leading to improved profitability and operational success.
Click 'Customize' to add new columns to the report, namely Percentage Column, Last Year, Per Available Room (PAR), Per Occupied Room (POR), Budgets Comparison, and Forecast Comparison.
You can also customize the report columns for multiple months.
The table below provides the formula for calculating PAR $ (Per Available Room) and POR $ (Per Occupied Room) for both the Period to Date and Year to Date, respectively. This information can be found in row 3 of the below table.
PTD (Period To Date)
YTD (Year To Date)
PTD $
PAR $
POR $
YTD $
PAR $
POR $
PTD
Amount
(PTD Amount) ÷ (Rooms Available to Sell)
(PTD Amount) ÷ (Rooms Sold)
YTD
Amount
(YTD Amount) ÷ (Rooms Available to Sell)
(YTD Amount) ÷ (Rooms Sold)
You can also customize the columns in the report at the first level of data drill-down using the drop-down menu. This allows you to personalize the report further and tailor it to your specific needs.
To export your report to Excel or PDF format
Generate and review the desired report in Docyt.
To export your report to Excel or PDF format, go to the top right corner of the report page and find the three-dots menu icon (...). Click on the three dots to reveal the menu options, and from there, select either 'Export as Excel' or 'Export as PDF'.
A notification will appear, indicating that the report can be downloaded from the 'Data Export' section of Docyt.
To download the report, navigate to the 'Data Export' section by clicking on the 'Data Export' link mentioned in the notification. On the 'Data Export' page, click on the ellipsis menu and select the 'Download' option.
Components and Sections of Owner's Operating Statement
The Owner's Operating Statement report consists of several essential components and sections that provide valuable insights into the financial performance of a hospitality business. These include:
Summary:
This section offers an overview of key metrics such as the number of rooms available for sale, rooms sold, occupancy percentage, average daily rate (ADR), and revenue per available room (RevPAR).
Operating Revenue:
Here, the report breaks down revenue sources, including room revenue, revenue from other departments, and miscellaneous income.
Departmental Expenses:
This section outlines the expenses specific to each department, such as room expenses and expenses related to other operated departments.
Departmental Income:
Highlighting income generated by different departments, this section includes room income, income from other departments, and miscellaneous income.
Undistributed Operating Expenses:
Expenses that are not directly allocated to specific departments, such as administrative costs, are represented in this section.
Gross Operating Profit:
This section indicates the profit generated after deducting departmental expenses and undistributed operating expenses from operating revenue. It also calculates the gross operating profit percentage.
These components and sections of the report provide a comprehensive understanding of the financial performance of a hospitality business, allowing owners and managers to make informed decisions and improve profitability.
Benefits
The Owner's Operating Statement report offers several key benefits to owners and managers in the hospitality industry. One of the main advantages is the ability to assess profitability. By providing a detailed breakdown of revenue and expenses, the report allows owners to evaluate the financial performance of their hospitality business. They can identify areas of high revenue generation and pinpoint areas where costs can be optimized to improve the bottom line.
Additionally, the report enables owners to make informed financial decisions. With a clear understanding of their business's financial performance, owners can strategically plan pricing strategies, implement adequate cost controls, identify investment opportunities, and allocate resources efficiently. This report is a valuable tool for owners to align their financial strategies with their business objectives, ultimately leading to improved profitability and operational success.
What to do if your Report Data is not Accurate
For inaccurate data:
Consult with your Docyt Account Manager for guidance and resolution. For general support questions, please email Docyt support at [email protected] for help in troubleshooting and resolving any discrepancies.
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