The following FY2011 budget was approved at the August 31st board meeting, which goes from October 1, 2010 to September 30, 2011.
HOTC Budget Fiscal Year 2011
My thoughts on the 30/70 split of the rental.HOTC gets the maintinance fees for that unit week $500.00 if the room rents for a total of 7 days the return is $1300 all figures rounded.Hotc gets 500.00 + 400.00 the 30% and +++ the surcharges plus taxes. The TSO gets 900.00 return or actually a 50/50 split now.
I was reveiwing the budget that was sent with the annual condo fee bill. There is an error in the income section for 10/1/11 – 5/31/12. Your formula may not be correct in excel. You did not add in maintenance fees. The total should be $871,307.54. The formula did not add in the $528,297.19. So this would actually change your reserve and contingency to a positive number of $158,103.60. Thx/Lisa
I do have one more question. What expenses are associated with the Welcome Center? Is the income stated net income(minus payroll expense, maintenance, etc.) Normally when you go to a hotel the gift/snack center is located next to check in. You are not paying an additional employee to “man” the snack/gift shop. Is there a way to move the receptionist center to the Welcome Center. Then we are not paying for 2 employees. The only time the Welcome Center is busy is on cruise days.
The welcome center is – currently – in fact operating at something of a loss. This has been brought up at a couple of board meetings. We have discussed the ACTUAL financial cost (revenue after salary, electric, inventory, etc. expenses) vs POSSIBLE cost – which would take into account in INCREASE in ferry revenue we have seen because Mary is pretty good at making sure everyone who rides the ferry, pays. There is also a matter of having a new, clean, area to be the first thing people see arriving at the cay. AND, it is a benefit to hotel guests and cruise passengers to have a few sundries available ON THE CAY so it isn’t necessary to go over to town for a couple of necessities. We are hoping that revenues will pick up as the idea of being able to pick up a few items gets more ingrained into the guests and visitors. There ARE some problems with the operation, but we are hoping we can fix them instead of just abandoning the whole idea.
It isn’t practical to move the hotel registration to the dock house as we would STILL need to have 2 employees (it would be rough to try to check in/out guests while trying to handle a retail environment) AND whenever anyone wanted…. say, a beach towel, they would have to go all the way out to the dock house to get one. Also, there isn’t really enough room there to PUT everything and everyone that would be needed. Now, if we manage to take over BOTH sides of the dock house, something different might be arranged later.
Personally, I’d like to see the dock house used as a luggage staging area and all the luggage taken to the rooms by golf cart instead of people having to lug it up themselves. More people, more salary, more expense. Maybe someday.
You do have some valid points. Baby steps.
I second Mitch’s idea of having someone take the luggage from an area to the rooms. As a Dept of State employee I travel often for business. Part of the service of most hotels domestic and overseas is having your bags brought to your room. We can worry about the tip when we give to the maids, ferrymen, bellman, etc. Maybe we should implement a tip policy for all tip based services? We post the policy somewhere so it does not embarrass guest or employee. The hotel knows when guests check in and out. This could be a part time position for those times. This could be a tipped position. Many service type jobs are tipped based and an accepted practice in the industry.
This was done for several years between 2002-2008 or so. You would simply leave your luggage at the end of the dock and HOTC staff would bring it up to your door by golf cart. You didn’t really have to even ask for it–it was included as standard service.