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Whistler Lodge Service Model Office of the Vice President Finance Presented by: Joaquin Acevedo.

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Presentation on theme: "Whistler Lodge Service Model Office of the Vice President Finance Presented by: Joaquin Acevedo."— Presentation transcript:

1 Whistler Lodge Service Model Office of the Vice President Finance Presented by: Joaquin Acevedo

2 Summary Background Purpose and Scope Current Operation Student Input Service Model Opportunities Recommendations

3 Background Built in 1966 by VOC AMS Operation Begins 1975 Topic of discussion since 2010 Coriolis Report

4 Purpose and Scope Feasibility: –Membership Demand –Financial Stability Scope: –Current Operation: –Service Model Analysis –Long-Term Outlook

5 CURRENT OPERATION Analyzing

6 Current Operation 40 hostel style bunk, 2 private room beds Student Rate: $20 Summer, $25 Winter General Public Rate: $25 Summer, $30 Winter Complete Booking: $1,200 Booking Methods

7 Staff Structure Director of Operations AMS Sales Manager Whistler Lodge Bookings Rep. Whistler Lodge Manager Student Bookings Rep. Whisltler Lodge Front Desk Attendant(s)

8

9 Net-Contribution FY05FY06FY07FY08FY09FY10FY11FY12FY13 Revenue Actual $ 194,004 $ 160,103 $ 258,158 $ 277,457 $ 287,642 $ 225,575 $ 171,761 $ 171,479 $ 191,836 Expenses $ 172,972 $ 172,346 $ 177,452 $ 192,061 $ 207,420 $ 199,928 $ 202,503 $ 176,561 $ 184,977 Net Contribution$21,032-$12,243$80,706$85,396$80,222$25,647-$30,742-$5,082$6,859 FY05FY06FY07FY08FY09FY10FY11FY12FY13 Capital Expenses $ 338, $ 39, $ - $ 52, $ 21, $ 2, $ 18, $ - Contribution $ 21, $ 12, $ 80, $ 85, $ 80, $ 25, $ 30, $ 5, $ 6, Real Contribution-$317, $51,243.00$80,706.00$33,196.00$58,322.00$23, $48, $5,082.00$6,859.00

10 Student Spaces Fee

11 Occupancy

12 STUDENT INPUT Asking

13 Recent Survey Findings Base QuestionResponse Yes67% No33% “Are you aware that the AMS operates a lodge in Whistler, BC?” Base QuestionResponse Strongly Agree 28% Agree 32% Disagree 19% Strongly Disagree21% “I would prefer the AMS to maintain a lodge in Whistler.”

14 Past Findings Lodge Perceptions: 48% service 14% business

15 Recommended Model Assumptions Number of Beds41 Student Rate $ General Public Rate $ Occupancy Rate32.6% Student Occupancy Proportion68% General Public Occupancy Proportion32% Operating Costs Labour $ 85,000 Taxes $ 4,900 Utilities $ 17,300 Maintenance $ 13,000 Admin $ 6,000 Sales/Commissions $ 4,000 Marketing $ 7,000 Total Operating Costs $ 137,200 Revenues Student Bookings $ 82, General Public Bookings $ 54, Total Revenue $ 137, Net Contribution/Loss $ Notes: - Increase in GP rate to $35. - This model assumes that current operation will remain the same with modifications to operating costs 1. Decrease of $20,000 in labour 2. $2,000 increase to marketing - Occupancy of 33% has been adjusted to reflect demand impacts as a result of pricing changes - No capital expenses to be incurred.

16 Recommended Structure Executive Director Whistler Lodge Manager Front Desk Attendants(s) Whistler Lodge Marketing Coordinator Student Bookings Rep.

17 Students Served FY10FY11FY12FY13 Students 1,348 1,617 2,743 4,641 General Public 2,690 2,972 1,309 Total Available Beds14965 Occupancy27.0%28.8%38.2%39.8%

18 Occupancy Projections

19 OPPORTUNITIES Imagining New

20 Asset Management FY13FY14FY15FY16 Student Revenue $116,025 $133,463 $160,975 $141,875 General Public Revenue $39,270 $43,500 $31,917 $47,340 Total Revenue $155,295 $176,963 $192,892 $189,215 Operating Expenses $184,977 $137,576 $143,079 $147,371 Net Contribution $(29,682) $39,387 $49,813 $41,844 Real Contribution after Amortized Significant Improvements$(29,682)$ 18,248$ 28,674$20,705 Real Contribution after Amortized Minimum Improvements$(29,682)$30,748$41,174$33,205 Landscape Bathrooms Exterior Doors Entry Deck Private Rooms

21 Campus Partnerships CUS EUS VOC Japanese Student Association Ski & Board Residence Hall Association Model 1Model 2Model 3 Surplus/(Deficit)-$20, $5,209.86$ Additional Student Bookings Individual Visitors Needed Number of Partners11 Full Bookings per Partner1 1/40

22 External Partnerships SFU Population30,000 Expected Use1.5% Total Expected Users450 Total % Occupancy45.9% Partnership Fees: $ 2, Total Annual Contribution $ 25, Kwantlen Population19,000 Expected Use1% Total Expected Users190 Total % Occupancy42.3% Partnership Fees: $ 1, Total Annual Contribution $ 10,690.00

23 CONCLUSION & RECOMMENDATIONS

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