A hotel income statement, also known as a profit and loss statement, provides a detailed overview of a hotel's financial performance and helps maximize profit and understand departmental performance.
🏨 A hotel income statement is unique to the hotel industry and follows the USALI.
📊 It provides detailed financial information and departmental breakdowns.
💰 It helps maximize profit and understand performance.
A hotel income statement, also known as a profit and loss statement, is unique to the hotel industry and follows the Uniform System of Accounts for the Lodging Industry (USALI).
It provides a detailed overview of a hotel's financial performance and helps maximize profit and understand departmental performance. The first page of the income statement includes rooms available, rooms sold, occupancy percentage, average daily rate, and revenue per available room. It also includes columns for period information and year-to-date information. Other column options may include percentages and amounts per occupied room.
The summary page of the income statement includes revenues, expenses, gross operating profit, non-operating expenses, EBITDA, depreciation, amortization, interest, taxes, and net income. The income statement ties in with the balance sheet, and the net income should match the current earnings on the balance sheet.
The income statement provides a detailed breakdown of each department's revenues and expenses, allowing for mini P&Ls for each department. It also includes room statistics and food and beverage department information. The income statement also covers undistributed expenses, such as administration, IT, sales and marketing, and property operations. The statement may vary depending on the edition of USALI being followed.
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