The Hotel Financial Control function generally analyses the Hotel activity through a standard P&L reclassification that identifies four main departments that represent the main business area of the Hotel: Rooms Revenues, Food & Beverages Revenues, Telephone Revenues and Other Income. Rooms and F&B are the main drivers of value, while the other revenues may help the total contribution. For each of the four department the Hotel Financial Control calculates the department profit and then the cumulative Department Profit of the Hotel.

Further in our accounting, we subtract the Undistributed Expenses (including Adm. & General, Marketing, Repairs and Maintenance, Energy Costs, etc.) to obtain the Gross Operating Profit of the Hotel and we subtract Fixed Charges (including Equipment and other Rent/lease, Real Estate and other Taxes, Building and other Insurance, etc.) to obtain the Net Operating Income.

The main size and performance measure in the Hotel industry are identified as the Occupancy Rate, multiple occupancy factor, annual sleepers, GUR (number of sleepers per available bed) ARR (Average Room Rate), Revenues PAR (per available room), Revenues POR (Per Occupied Room). The main profitability measures of an Hotel are based on Gross Operating Income (GOI-Par and GOI-Por) and to Net Operating Income (NOI-Par and NOI-Por). Hotel valuation multiples are often linked to RevPar, GopPar and NoiPar.

Nice, but it is time to make few changes. Although the Hotel industry is almost stable compared to other businness, there are two drivers that would suggest to the Hotel Financial Control to make some development to the above Profit & Loss reclassification: these are the Internet based booking and the new Real Estate financial structures. Let’s see how these two drivers may lead to some upgrades in our way to look at the accounts of an Hotel.

Hotel bookings include direct bookings at the Hotel (via telephone or Internet based), “chain” label driven bookings and Internet media bookings (via major Internet bookings media). Each of these channel requires a different organisation structure, different contracts and different costs. It is not a simple sales and marketing choice with associated Sales and Marketing costs: the decision to stress the Internet channel changes rather than the traditional channels dramatically change the Hotel operations and the Hotel P&L. We worked as Advisor together with an Hotel manager in a famous location in Italy. We decided that the “chain” label driven booking was too expensive and could be replaced by Internet media bookings. The result was an increase in the overall Hotel occupancy rate with no decrease in the Avg Room Rate. The installation of the new system required an overall three months investment, peanuts in comparison with what the Hotel was paying to have a famous label on the door. But in order to really monitor each cent of cost we needed to chance the Hotel Financial Control system.

The issue is: Is it correct that the Hotel Financial Control considers Sales costs as Undistributed Expenses, as these costs are not evenly insisting on the different revenue stream? In other words: what we noticed is that the Sales channel brings different Sales costs on Room Dept and on F&B Dept. If these is the case, we might therefore decide to include the different impact of Sales channel expenses on the department. P&L with more accuracy.

A different issue on the Hotel Financial Control structure rely upon the new Real Estate ownership. Hotel Real Estate are increasingly owned by financial investors that very little care about the characteristics of the Hotel business and are very demanding: they require a stable financial flow, possibly a higher reward based on the performance of the Hotel and they look at long-term capital appreciation. The structure of the lease / rent contract and its cost is therefore not simply one of the fixed costs of the Hotel but is “the” cost. The Hotel Financial Control cannot simply include this in a row down in the P&L, but a much in depth analysis is needed. We might want to include the contingency share of the lease /rent in operating expenses so that our Dept. profit really reflects the profit to the firm. In addition we might want to define into a proper P&L figure the relevant lease / rent expenses.

Finally a few words on other issues: telephone revenues and SPA revenues.

Everybody attending an hotel owns at least one mobile telephone and pretends full Internet coverage: Hotel telephone revenues are therefore limited. The wellness area, including SPA and fitness revenues instead are increasing: the Hotel Financial Control often replaces the telephone Dept line with the SPA Dept. line.

As Advisor in this industry, we are therefore challenged with the clients’ need for further improvements in Hotel Financial Control so that it really supports the management in its decisions.

Call Arun @ +919560214267

WELCOMING A CHOSEN WAY TO AN EXQUISITE WORLD OF BEAUTY.

PRESENTING KNIGHT’S  COURT APARTMENT IN WISHTOWN NOIDA- AN EXCLUSIVE COMMUNITY FOR THOSE  WITH A REFINED TASTE OF BEAUTY AND LIFE.

These premium apartments set in high rise towers are the last word in luxury and design. An uninterrupted view of the 18-hole Graham Cooke golf course combines with exquisite interiors based on a neo-classical theme to create a distinctive lifestyle. Of course such luxury is the privilege of only a rare few. The spacious set of apartments gives an open feel with only two apartments on each floor.

An exclusive haven of beauty and recreational delight for a rare few. Take a peek at this new world today and get the pure pleasure.

 

3/4 BHK Apartments and Penthouses in high rise towers offering an uninterrupted view of the 18-hole Graham Cooke designed signature golf course
Exclusive social clubs with multiple sport and other recreational facilities
Only 2 Apartments on each floor ensuring a sense of exclusivity
Self sustained community incorporating a Hospital, Schools, Town Centre and Commercial properties
Exquisite architecture based on a neo-classical theme

SPECIFICATIONS

Floors

Living / Dining / Foyer

High quality imported Marble flooring

Bedrooms / Study

Solid wood plank flooring

Workers / Utility Room

Ceramic tiles or equivalent

Balcony

Ceramic tiles or equivalent

Lift Lobby

Marble flooring

Kitchen

Imported anti-skid ceramic tile flooring

Toilets

Spanish vitrified tiles in flooring

Walls

Internal

Walls plastered with POP punning and painted with plastic paint

Toilets

High quality ceramic tiles till 7′-0″ in shower area, 3′ 6″ in balance toilet including borders, mouldings etc. Balance painted in Plastic paint.

Kitchen

Tiles upto 2′ height above the counter level, balance POP Punning and painted with plastic paint.

Bedrooms / Study

Walls plastered with POP punning and painted with plastic paint

Living / Dining / Foyer

Walls plastered with POP punning and painted with plastic paint

Lift Lobby walls

Plastic paint

Workers / Utility Room

Plastic emulsion paint

Ceilings

POP ceiling

Ceilings (balcony/servant’s room)

Plastic paint

Doors/Windows

External

Anodized aluminium frames with glazed shutters

Internal

First class Wood frame with skin moulded door shutter/ Teak wood paneled doors

Main Door

Wooden with teak finish

Kitchen

Additional features

Modular kitchen as per design. Granite counter and back splash stainless steel sink with drain board

Toilets

Additional features

Frameless glass shower enclosure with SS hardware/ his & her vanity in M. bedroom

Utilities and Facilities

Air conditioning

Ducted Air-conditioning

Ventilation

Exhaust fans in bathrooms and chimney in kitchen. All external doors and part of external windows are openable

Security

Burglar Alarm,  CCTV & 24 Hour manned security on entrance gates

Water supply

Pressurized water supply through underground supply lines/ overhead tanks

Gas Supply

Provision for piped gas supply

Sewage Water

Soiled water drainage into main sewer outside property

Fire protection

Sprinkler system

Main electrical supply

Electrical wiring in concealed conduits with modular switches and power back up

Telephone /data

Video Phone, Intercom, Fax & Telephone cable pre-wired into all rooms

Services

Maintenance for common area on chargeable basis

 

PRICE LIST

BSP – Rs 6,000/- psf, BSP – Rs 6,300/- psf (Penthouse)
(Inaugural Discount @ Rs. 330/- psf)
(Additional Service Tax, as applicable)

Other Applicable Charges

S. No.

Payment Head

Charges / Rate

1

Internal Development Charges

Rs. 75.00 psf

2

Electric Sub Station Charges

Rs. 40.00. psf

3

Social Club Membership

Rs. 1.00 Lac

4

Car Parking

Underground Car Parking
1. Car park @ Rs 4.00 Lacs
2. Subsequent car park @ Rs. 5 Lacs

One reserved basement car parking space compulsory with any apartment.

5

Maintenance advance for one year

Rs. 2.50 per sq. ft. per month

6

One Time Lease Rent

Rs. 50 per sq. ft.

7

Preferential Location Charges

Rs. 50 psf (5th to 10th Floor)
Rs. 100 psf (11th  to 18th floor)

 

Notes

The Basic Sales Price is for the indicated Super area and is not inclusive of the extra charges mentioned above.
The Preferential Location Charges (PLC ), wherever applicable shall be charged extra.
Additional amount towards Stamp Duty, Registration Charges, and legal/miscellaneous expenses etc., shall be payable by the Allottee at the time of offer of possession.
Maintenance charges as per maintenance agreement shall be payable by the allottee separately. The one time Maintenance deposit @ Rs. 105.00 per sq. ft. of super area shall be payable extra before handing over possession of the premises to the allottee.
Maintenance Advance for the 1st one year @Rs.2.50/- per sq.ft. of super area per month shall be payable.

Areas are indicative only.
Exact super area of Apartment shall be calculated at the time of handing over possession of property as constructed.   Increased/decreased area shall be charged proportionately as per the sale price.
The super area means the covered area of the demised premises inclusive of the area under the periphery walls, area under columns and walls within the demised premises, half of the area of the wall common with the other premises adjoining the demised premises, cupboards, plumbing / electric shafts of the demised premises, total area of the balconies and terraces, and proportionate share of the common areas like common lobbies, lifts, common service shafts, staircases, machine room, mumty, electric sub station and other services and other common areas etc.
The other terms and conditions shall be as per the Application Form, Standard Terms and Conditions and the Allotment Letter of the Company.
The prices are subject to revision / withdrawal at any time without notice at the sole discretion of the Company.
Government Taxes as applicable from time to time shall be payable by the allottee in addition to the sale price as stated above.
Transfer fee will be @ Rs. 75/- psf, applicable only after 40% payment has been received from the allottee (subject to change as per the company policy).

 

PAYMENT PLAN

A. Construction Linked Plan*

S.No

Payment Due

Percentage (%)

Other Charges

1

On Booking

As Applicable**

 

2

On or Before 2 months from the date of Application

20% of BSP (less Booking Amount**)

Car parking

3

On or Before 4 months from the date of Application

10% of BSP

 

4

On commencement of excavation

10% of BSP

 

5

On laying of upper basement slab

10% of BSP

 

6

On laying of 2nd floor roof slab

7% of BSP

IDC

7

On laying of 5th floor roof slab

7% of BSP

 

8

On laying of 8th floor roof slab

6% of BSP

 

9

On laying of 11th floor roof slab

5% of BSP

 

10

On laying of 14th floor roof slab

5% of BSP

 

11

On laying of 17th floor roof slab

5% of BSP

ESSC

12

On laying of top floor roof slab

5% of BSP

PLC

13

On completion of internal plaster & flooring within the apartment

5% of BSP

 

14

On offer of Possession

5% of BSP

Social club membership + Maintenance advance + IFMD + One time lease rent

 

Total

100%

 

*The total number of floors mentioned is tentative and subject to revision.

**Booking amount:

2 BHK + Family

Rs. 6   Lacs

3 BHK + Family (All types)

Rs. 10 Lacs

4 BHK + Family (All types)

Rs. 12 Lacs

Penthouse 4 BHK + Family

Rs. 15 Lacs

Penthouse 5 BHK + Family

Rs. 20 Lacs

Cheques should be drawn in favor of ‘Standard Chartered Bank A/c – Jaiprakash Associates Limited’.

Notes:

Installments under S. No. 4 – 14 may run concurrently with those under S. No. 1 – 3 based
on the physical progress of Work at site.
The demand letter for Installments at S. No. 4 to 14 shall be sent in advance providing for
payment period of up to 15 days.

B. Down Payment Plan

S. No

Payment Due

Percentage (%)

Other Charges

1

On Booking

As Applicable*

 

2

On or before 1 month from date of Application

95% of BSP (less Booking Amount*)

IDC + Car park + Electric
substation charges +PLC

3

On offer of possession

5% of BSP

Social Club Charges + IFMD + Maintenance advance + One time lease rent

 

TOTAL

100%

 

Note: Down Payment Discount @ 15% on BSP

C. Partial Down Payment Plan

S. No

Payment Due

Percentage (%)

Other Charges

1

On Booking

As Applicable*

 

2

On or before 1 month from date of Application

55% of BSP (less Booking Amount*)

IDC + Car park

3

On laying of upper basement slab

20%

 

4

On laying of 6th floor roof slab

20%

 

5

On offer of possession

5% of BSP

Social Club Charges + IFMD +
Maintenance advance + One time lease rent + + Electric
substation charges +PLC

 

TOTAL

100%

 

Note: Partial Down Payment Discount @ 11% on BSP

 

Service tax burden imposed by the Union Budget on realty transactions will affect the sector. Read on to know what are the pluses and the minuses of the new budget

The Union Budget 2010-11 is a big disappointment to the middle-class urban housing sector. However, it has bet on the economic growth to drive demand in the sector. By tweaking the income slab, finance minister Pranab Mukherjee has put some extra money into the pocket of middle-class tax payers. A person having an income of Rs 5 lakh per annum is likely to gain Rs 20,600 per annum from the provision. But, if his income is more than Rs 8 lakh, his annual gains will be around Rs 51,500. These are a big booster to the economy as they will increase the purchasing capacity of individuals. Ultimately, tax saving is equivalent to money earned.

Service tax on apartments under construction

But at the same time, the finance minister has imposed service taxes on a number of services related to the real estate sector. Anshuman Magzine, MD of global consultancy firm CBRE Asia, says that these provisions will be a dampener and affect the revival of the real estate sector. Another realty consultancy firm,

Knight Frank also said that it would affect the sector adversely. According to a budget provision, in cases where a property under construction is bought and a consumer makes payment over a period of time, then it will attract service tax. “In the ‘Construction of complex service’, it is being provided that unless the entire consideration for the property is paid after the completion of construction (that is, after receipt of completion certificate from the competent authority), the activity of construction would be deemed to be a taxable service provided by the builder/promoter/developer to the prospective buyer and the service tax would be charged accordingly,” reads the provision.

A senior tax consultant of KPMG says that this clearly means that if a house or apartment is sold before the completion of the construction, a buyer will have to pay the service tax. In fact, Sunil Mitra, revenue secretary, said that even if a house is already sold but the completion certificate could be secured from the concerned authority in 2010-11 or after March 31, 2010, the service tax would be levied on such transaction. According to tax experts, this will lead to a tax outgo of 3.4% of the sale value of the house. Mitra also confirmed that the department would allow an abatement of 67% on the value of house to calculate the service tax at the rate of 10.3%.

This means, if you have bought a house for Rs 50 lakh at the time of launch of a project, your tax liability would be Rs 1.70 lakh. However, with the service tax levied from service provider, a senior builder said they would pass on the liability to the customer. He said that since they have started launching affordable apartments, the margin is so thin that they would not be able to absorb them. The budget has also included the renting of immovable property under the service tax net. Knight Frank says that this will have a negative impact on the real estate sector. The levy of service tax will impact rented commercial property with retrospective effect from June 1, 2007. Even in cases where a developer takes land on lease and pays lease rent, the lease rent will attract service tax.

Preferred location will be taxed

Interestingly, the differential charges for higher floor, or for preferential view, better spaces, etc will also attract service tax. “Certain additional services provided by a builder to prospective buyers like providing preferential location or external or internal development of complexes on extra charges. However, service of providing vehicle-parking space would not be subjected to tax,” the new provision says. However, there are some positive aspects also, which will benefit the construction sector as a whole.

Hotel industry gets a boost

According to a new provision, all new hotels of 2-star and above category will be benefited because of the investment-linked deduction – 100% of the capital expenditure incurred by a hotel can be reduced from taxable income. This will enhance the returns for developers of hotel projects, says Knight Frank. “The provision will enable investments in the hospitality segment and boost supply in the organized sector. It aims to provide support to the hospitality sector in expectation of growth in tourism and both business and leisure travel,” says Anurag Mathur, MD of Cushman & Wakefield India.

Relief under 80 IB

The budget has also given relief to developers under Section 80 IB (10). It has provided the extension of income tax exemption for housing projects by one year. It will give a relief to projects that were delayed during the slump. These projects should have been sanctioned on or before March 31, 2008 and be completed in five years. Similarly, the provision for commercial establishments has been increased from 5% or 2,000 sq ft of built-up area, whichever is less, to 3% or 5,000 sq ft of built-up area, whichever is higher. Therefore, at least 5,000 sq ft of shop establishments can now be developed in these projects while continuing to remain eligible for income tax exemption, says Knight Frank.

The relief to developers by allowing extension for claiming deduction of their profits within a period of five years under the section, says Mathur, would help those developers who were impacted by the global financial crisis last year. This announcement is likely to provide a breather for developers who were finding it difficult to complete projects due to liquidity crunch.

However, on the other hand, the announcement may be a cause of concern for the consumer/end user as relief extended to developers might result in further delay in project completion.

In addition, it is suggested that the norms for built-up area of shops and other commercial establishment in housing projects will be relaxed to enable basic facilities for the residents.

Courtesy:- ET Realty dt:- 19-03-2010

For information about real estate, real estate india, Indian real estate property, property in india, Indian property, apartments, apartments for sale, apartments for buy, apartments for sale in delhi, apartments for sale in gurgaon, apartments for sale in indirapuram, flats for sale in delhi, homes, homes for sale, houses for sale, homes for sale in delhi, homes for sale in gurgaon, houses for sale in delhi, houses for sale in gurgaon, property investment options in delhi, investment option in real estate, real estate consultant, real estate agents, real estate developers and many more  log on  to http://www.zameen-zaidad.com and http://propertycafeteria.com/

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02.06.2008 Agricultural Land increases by 50%
Dir.bg

In the last three months the price of agricultural land in Bulgaria has increased by 50%. The investors’ interest toward the summer and winter resorts is growing weaker and a lot of funds are being directed to the purchasing of farming land This is the explanation the experts give for the sharp rise in the prices.

Up to now agricultural land remained somewhat aside from the real estate price hysteria that seized the big cities. However, in the last few months the price of these plots of land suddenly shot up. At the moment the most expensive land is sold in north-eastern Bulgaria and the cheapest – in north-western Bulgaria. The only area where prices are stable is Dobrudzha, as the price of land there is expensive.

If you have a small plot of land which does not bring you any income it is better to sell, experts advise. But if you have a lot of land in one area then you are advised to wait. The forecast is that in the next decade or so agricultural land will go up gradually by about 10-20% on an annual basis.

So, you have the most advanced and dynamic real estate agent website on the web. You got all the bells and whistles your buyers and sellers would ever want. The traffic is rolling in, but there’s still one problem. Where are the leads?

Like every other real estate agent, you know how tough it is to find quality real estate leads. You need potential clients to take action now! Not wait, sit on the fence for a while and eventually slip away. So how can you catch these clients hook, line and sinker? Learn how to market and advertise YOURSELF! Take advantage of the features your realty website offers that allow you to show off.

Write a catchy and creative blurb on your professional skills, attitude and star sales qualities.

Remind your clients to interact with your website. Ask them to fill out a form, contact you and save their favourite properties. Make them communicate with you in any way possible.

Take advantage of every touch point. Store clients’ e-mails, phone numbers and addresses. Make sure to contact every single person that makes contact with you.

Don’t fall into the background. Stay top of mind with a monthly newsletter, deal of the month or open house invitation.

Always show customers what’s in it for them. Sell yourself through your abilities, actions and services not through boasting, bragging or arrogance.

Make an offer they can’t refuse. Promise a free home staging quote, t-shirt, mortgage broker quote or even a useful real estate report if they fill out a form. Remember, everyone LOVES something for free. Tag team with an industry specialist to make it happen.

Identify what makes you different from every other money-hungry agent. Create a Unique Selling Proposition for your services and run with it. Make it the bread-and-butter of your business.

Ask them for referrals, testimonials, questions and requests. Keep your phone number and e-mail visible and in the right places. Present a call to action that encourages them to follow through.

 

Make your REALTOR® website a real estate research headquarters. Give your visitors ALL the info they need to know. You can bet buyers & sellers will get online to make an informed decision long before they take any definitive action with an agent. Why not be the one-stop-shop? Appeal to their every real estate need, want and desire. With the right marketing and advertising strategies, they will stay on your site longer and visit more often. That’s how you ring in the qualified sales. Cha-ching!