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Farr Inn
Start-up Per forma
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
2001 * * * * * * * * * * * * * * * * * * * * * * * * * * * 2002 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 1.02 1.05 1.07 1.10 1.13 1.15 1.18 1.21 1.24
Total Rooms: 22 31 31 28 31 30 31 30 31 31 30 31 30 365 365 365 365 365 365 365 365 365 365 3,650
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Revenue
Occupancy Rate 0.4 0.5 0.9 0.6 0.7 0.8 0.9 0.9 0.9 0.9 0.9 0.9 0.775 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.8875
Occ Room Nights 264 341 614 396 477 528 614 614 554 614 594 614 6,224 7,227 7,227 7,227 7,227 7,227 7,227 7,227 7,227 7,227 71,267
Room Rate $195.00 $195.00 $195.00 $195.00 $195.00 $195.00 $195.00 $195.00 $195.00 $195.00 $195.00 $195.00 $195.00 $225.00 $255.00 $275.00 $295.00 $295.00 $295.00 $295.00 $295.00 $295.00 $272.00
Rooms 51,480.00 66,495.00 119,691.00 77,220.00 93,093.00 102,960.00 119,691.00 119,691.00 108,108.00 119,691.00 115,830.00 119,691.00 1,213,641.00 1,626,075.00 1,842,885.00 1,987,425.00 2,131,965.00 2,131,965.00 2,131,965.00 2,131,965.00 2,131,965.00 2,131,965.00 19,461,816.00
Room Tax
Room Food 0 0 0 0 0 0 0 0 0 0 0 0 0.00
Gift 0 0 0 0 0 0 0 0 0 0 0 0 0.00 0 0 0 0 0 0 0 0 0 0
Total Revenue 51,480.00 66,495.00 119,691.00 77,220.00 93,093.00 102,960.00 119,691.00 119,691.00 108,108.00 119,691.00 115,830.00 119,691.00 1,213,641.00 1,626,075.00 1,842,885.00 1,987,425.00 2,131,965.00 2,131,965.00 2,131,965.00 2,131,965.00 2,131,965.00 2,131,965.00 19,461,816.00
Hospitality Expenses
Labor 18,312.48 18,922.90 18,922.90 18,312.48 18,922.90 18,312.48 18,922.90 18,922.90 17,091.65 18,922.90 18,312.48 18,922.90 222,801.84 228,149.08 233,624.66 239,231.65 244,973.21 250,852.57 256,873.03 263,037.99 269,350.90 275,815.32 2,484,710.26
Room Supplies 565.75 730.76 1,315.37 848.63 1,023.07 1,131.50 1,315.37 1,315.37 1,188.08 1,315.37 1,272.94 1,315.37 13,337.60 15,859.16 16,239.78 16,629.53 17,028.64 17,437.33 17,855.83 18,284.37 18,723.19 19,172.55 170,567.99
Laundry 514.80 664.95 1,196.91 772.20 930.93 1,029.60 1,196.91 1,196.91 1,081.08 1,196.91 1,158.30 1,196.91 12,136.41 14,430.87 14,777.21 15,131.87 15,495.03 15,866.91 16,247.72 16,637.66 17,036.97 17,445.86 155,206.52
Damage 350 350 350 350 350 350 350 350 350 350 350 350 4,200.00 4,300.80 4,404.02 4,509.72 4,617.95 4,728.78 4,842.27 4,958.48 5,077.49 5,199.35 46,838.86
Taxes 0.00 0 0 0 0 0 0 0 0 0 0
Total Hosp Exp 19,743.03 20,668.61 21,785.18 20,283.31 21,226.89 20,823.58 21,785.18 21,785.18 19,710.81 21,785.18 21,093.72 21,785.18 252,475.85 262,739.92 269,045.68 275,502.77 282,114.84 288,885.59 295,818.85 302,918.50 310,188.55 317,633.07 2,857,323.62
Food Expenses
Labor 5,425.92 5,606.78 5,606.78 5,425.92 5,606.78 5,425.92 5,606.78 5,606.78 5,064.19 5,606.78 5,425.92 5,606.78 66,015.36 67,599.73 69,222.12 70,883.45 72,584.66 74,326.69 76,110.53 77,937.18 79,807.67 81,723.06 736,210.45
Supplies + 369.07 476.72 858.09 553.61 667.41 738.14 858.09 858.09 775.05 858.09 830.41 858.09 8,700.87 10,594.13 11,108.75 11,648.36 12,214.20 12,807.51 13,429.65 14,082.01 14,766.06 15,483.33 124,834.87
Food Cost * 1,476.29 1,906.87 3,432.37 2,214.43 2,669.62 2,952.58 3,432.37 3,432.37 3,100.20 3,432.37 3,321.65 3,432.37 34,803.49 41,383.31 42,376.50 43,393.54 44,434.99 45,501.43 46,593.46 47,711.70 48,856.78 50,029.35 445,084.54
Bar Cost ** 299.38 386.69 696.05 449.06 541.37 598.75 696.05 696.05 628.69 696.05 673.60 696.05 7,057.79 8,392.11 8,593.52 8,799.76 9,010.96 9,227.22 9,448.67 9,675.44 9,907.65 10,145.44 90,258.56
Room Bar Cost 789.36 1,019.59 1,835.26 1,184.04 1,427.43 1,578.72 1,835.26 1,835.26 1,657.66 1,835.26 1,776.06 1,835.26 18,609.16 22,127.34 22,658.40 23,202.20 23,759.05 24,329.27 24,913.17 25,511.09 26,123.35 26,750.31 237,983.33
Room Food Cost*** 0.00
Room Food Sales Tax 0.00
Total Food Exp 8,360.02 9,396.66 12,428.56 9,827.06 10,912.61 11,294.11 12,428.56 12,428.56 11,225.79 12,428.56 12,027.64 12,428.56 135,186.67 150,096.61 153,959.29 157,927.32 162,003.84 166,192.11 170,495.48 174,917.42 179,461.52 184,131.48 1,634,371.75
Gift Expenses 0.00
Cost of Goods 0.00
Sales Tax 0.00
Supplies 0.00
Total Gift Exp 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Overhead
Utilities
Electric 680.00 776.25 1,117.25 845.00 946.75 1,010.00 1,117.25 1,117.25 1,043.00 1,117.25 1,092.50 1,117.25 11,979.75 13,334.55 13,437.77 13,543.47 13,651.70 13,762.53 13,876.02 13,992.23 14,111.24 14,233.10 135,922.36
Phone 297.00 297.00 297.00 297.00 297.00 297.00 297.00 297.00 297.00 297.00 297.00 297.00 3,564.00 3,194.88 3,271.56 3,350.07 3,430.48 3,512.81 3,597.12 3,683.45 3,771.85 3,862.37 35,238.58
Gas 642.00 776.75 1,254.15 873.00 1,015.45 1,104.00 1,254.15 1,254.15 1,150.20 1,254.15 1,219.50 1,254.15 13,051.65 14,859.09 14,912.17 14,966.53 15,022.20 15,079.19 15,137.56 15,197.33 15,258.53 15,321.20 148,805.45
Water 129.06 161.10 274.58 183.98 217.84 238.89 274.58 274.58 249.87 274.58 266.34 274.58 2,819.98 3,026.13 3,026.61 3,027.09 3,027.59 3,028.09 3,028.61 3,029.15 3,029.69 3,030.25 30,073.20
Irrigation 31.25 31.25 31.25 31.25 31.25 31.25 31.25 31.25 31.25 31.25 31.25 31.25 375.00 384.00 393.22 402.65 412.32 422.21 432.35 442.72 453.35 464.23 4,182.04
Sewer 311.31 402.11 723.79 466.96 562.95 622.62 723.79 723.79 653.75 723.79 700.44 723.79 7,339.10 8,726.61 8,936.05 9,150.51 9,370.12 9,595.01 9,825.29 10,061.09 10,302.56 10,549.82 93,856.17
Total Utilities 2,090.62 2,444.45 3,698.02 2,697.19 3,071.24 3,303.76 3,698.02 3,698.02 3,425.07 3,698.02 3,607.04 3,698.02 39,129.49 43,525.26 43,977.37 44,440.33 44,914.40 45,399.85 45,896.94 46,405.97 46,927.22 47,460.97 448,077.79
Insurance 516.00 516.00 516.00 516.00 516.00 516.00 516.00 516.00 516.00 516.00 516.00 516.00 6,192.00 6,340.61 6,492.78 6,648.61 6,808.18 6,971.57 7,138.89 7,310.22 7,485.67 7,665.32 69,053.85
Landscape Maint 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 6,000.00 6,144.00 6,291.46 6,442.45 6,597.07 6,755.40 6,917.53 7,083.55 7,253.55 7,427.64 66,912.65
Bldg Maintenance 1,275.00 1,275.00 1,275.00 1,275.00 1,275.00 1,275.00 1,275.00 1,275.00 1,275.00 1,275.00 1,275.00 1,275.00 15,300.00 15,667.20 16,043.21 16,428.25 16,822.53 17,226.27 17,639.70 18,063.05 18,496.57 18,940.48 170,627.26
Uniforms 240.00 248.00 248.00 240.00 248.00 240.00 248.00 248.00 224.00 248.00 240.00 248.00 2,920.00 2,990.08 3,061.84 3,135.33 3,210.57 3,287.63 3,366.53 3,447.33 3,530.06 3,614.78 32,564.16
Office Supplies 400.00 400.00 400.00 400.00 400.00 400.00 400.00 400.00 400.00 400.00 400.00 400.00 4,800.00 4,915.20 5,033.16 5,153.96 5,277.66 5,404.32 5,534.02 5,666.84 5,802.84 5,942.11 53,530.12
Accounting
HR 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00 2,400.00 2,457.60 2,516.58 2,576.98 2,638.83 2,702.16 2,767.01 2,833.42 2,901.42 2,971.06 26,765.06
G/L 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 1,200.00 1,228.80 1,258.29 1,288.49 1,319.41 1,351.08 1,383.51 1,416.71 1,450.71 1,485.53 13,382.53
A/P 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 1,800.00 1,843.20 1,887.44 1,932.74 1,979.12 2,026.62 2,075.26 2,125.06 2,176.07 2,228.29 20,073.80
Legal 750.00 750.00 750.00 750.00 750.00 750.00 750.00 750.00 750.00 750.00 750.00 750.00 9,000.00 9,216.00 9,437.18 9,663.68 9,895.60 10,133.10 10,376.29 10,625.32 10,880.33 11,141.46 100,368.98
Management 5,900.00 5,900.00 5,900.00 5,900.00 5,900.00 5,900.00 5,900.00 5,900.00 5,900.00 5,900.00 5,900.00 5,900.00 70,800.00 77,880.00 85,668.00 94,234.80 103,658.28 114,024.11 125,426.52 137,969.17 151,766.09 166,942.70 183,636.97
Interest 23,230.02 16,239.71 16,160.15 16,079.93 15,999.03 15,917.47 15,835.22 15,752.29 15,668.67 15,584.35 15,499.33 15,413.60 197,379.79 183,925.93 183,925.93 183,925.93 183,925.93 183,925.93 183,925.93 183,925.93 183,925.93 183,925.93 1,852,713.13
Depreciation 23,230.02 23,230.02 23,230.02 23,230.02 23,230.02 23,230.02 23,230.02 23,230.02 23,230.02 23,230.02 23,230.02 23,230.02 278,760.26 189,300.00 189,300.00 189,300.00 189,300.00 189,300.00 189,300.00 189,300.00 189,300.00 189,300.00 1,982,460.26
Inventory 50,000.00 50,000.00 50,000.00
Investor Buy Out 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 159,041.56 166,582.91 183,241.20 201,565.32 209,477.86 919,908.85
Investor Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 83,628.08 76,086.73 59,428.44 41,104.32 20,947.79 281,195.35
Property Taxes 2,625.00 2,625.00 2,625.00 2,625.00 2,625.00 2,625.00 2,625.00 2,625.00 2,625.00 2,625.00 2,625.00 2,625.00 31,500.00 32,256.00 33,030.14 33,822.87 34,634.62 35,465.85 36,317.03 37,188.64 38,081.16 38,995.11 351,291.41
Total Overhead 111,206.67 54,578.18 55,752.19 54,663.14 54,964.29 55,107.25 55,427.27 55,344.34 54,963.76 55,176.40 54,992.39 55,005.65 717,181.54 820,359.51 830,593.03 841,664.04 853,651.83 854,399.52 638,065.16 653,361.22 669,977.62 688,041.39 7,567,294.85
Total Expense 139,309.71 84,643.45 89,965.93 84,773.51 87,103.80 87,224.94 89,641.01 89,558.08 85,900.36 89,390.14 88,113.75 89,219.39 1,104,844.06 1,233,196.04 1,253,597.99 1,275,094.13 1,297,770.51 1,309,477.23 1,104,379.49 1,131,197.14 1,159,627.68 1,189,805.94 12,058,990.22
Gross Profit (87,829.71) (18,148.45) 29,725.07 (7,553.51) 5,989.20 15,735.06 30,049.99 30,132.92 22,207.64 30,300.86 27,716.25 30,471.61 108,796.94 392,878.96 589,287.01 712,330.87 834,194.49 822,487.77 1,027,585.51 1,000,767.86 972,337.32 942,159.06 7,402,825.78