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Goran Blomberg is interested in investing in a new rooms-only lodging property. He needs some financial projections for the proposed operations. He provides the following:
1. Room salesAverage room rate $50Average daily occupancy 65%Average rooms per day 50
2. Fixed labor- $12000/month
3. Other fixed expensesDepreciation $5000/monthutilities $3000/monthInsurance $1000/monthOther $3000/month
4. Variable labor- 15%
5. Other variable expensesOther room expenses 5%Administration 4%Marketing 5%Utilities 3%Other 8%6. Income tax rate- 20%
Q.1. Determine the projected net income using the above information. Assume the property will be open 365 days a year.2. Determine the projected net income if the room rate is increased to $55.3. Independent of #2, determine the projected net income if the room rate is increased to $60 and variable labor is %18.
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