How much does it cost?
We're only just kinda brainstorming right presently...but we be wondering how much in expenses Best Western hotel owners wages per month (or year). I know it depends on where on earth it is and adjectives that...but more or less how much? With food, maid service, front desk comfort... around how much contained by expenses for a hotel next to 50-60 rooms?
Answers:
Heres what i come up beside:
-60 rooms--10 full time maids. The cost per maid including taxes that the employer must payment is probably 10/hour. something like $210K/year
-front desk--3 full time desk folks salaried at $22000/year. Total $66000/year
"upper" management--3 ancestors making around 60K/year. $180K/year
Maintenance people--unionized 40k/person--let's estimate 2 full time--$80K year.
mortgage/taxes--assuming that the hotel is fresh $800K/year
utilities---assuming 30% of mortage--$240K\year
contingency (10% of total above) or 160K
This give you $1.8MM (ish).
This does NOT include any restaurant service. But consent to's do a reasonableness testing on the above. Lets assume that the hotel rate is $130/night/room and it have 80% average rent roll. That would quit yield--2.3MM ish--resulting in almost a .5MM profit respectively year from room sale PER hotel. that would show that over the 4300 locations that Best Western reports per its "certainty sheet" at its home page, it would be a 2.0B surrounded by profit company respectively year. Unfortunately, that's unyielding to "ballpark" bc they are not public and do not release their financials. It's a obedient start for you.
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Answers:
Heres what i come up beside:
-60 rooms--10 full time maids. The cost per maid including taxes that the employer must payment is probably 10/hour. something like $210K/year
-front desk--3 full time desk folks salaried at $22000/year. Total $66000/year
"upper" management--3 ancestors making around 60K/year. $180K/year
Maintenance people--unionized 40k/person--let's estimate 2 full time--$80K year.
mortgage/taxes--assuming that the hotel is fresh $800K/year
utilities---assuming 30% of mortage--$240K\year
contingency (10% of total above) or 160K
This give you $1.8MM (ish).
This does NOT include any restaurant service. But consent to's do a reasonableness testing on the above. Lets assume that the hotel rate is $130/night/room and it have 80% average rent roll. That would quit yield--2.3MM ish--resulting in almost a .5MM profit respectively year from room sale PER hotel. that would show that over the 4300 locations that Best Western reports per its "certainty sheet" at its home page, it would be a 2.0B surrounded by profit company respectively year. Unfortunately, that's unyielding to "ballpark" bc they are not public and do not release their financials. It's a obedient start for you.