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Big Burke announcement

Big Wave Dave

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If you put the fee in the room rate then it goes to the hotel revenue stream and needs to be split with EB5 investors. If you keep it separate it goes into Q's pocket alone.

what are you basing this on? How can revenues derived from the hotel amenities, which is what resort fee's are, be a different revenue stream? by similar logic, are the restaurants revenues also not hotel revenues?

curious, do tell.

Sign of the times- my FA recently started charging me for the paper they use to prepare my statements! everything is a hidden fee these days.....
 

thetrailboss

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what are you basing this on? How can revenues derived from the hotel amenities, which is what resort fee's are, be a different revenue stream? by similar logic, are the restaurants revenues also not hotel revenues?

curious, do tell.

Sign of the times- my FA recently started charging me for the paper they use to prepare my statements! everything is a hidden fee these days.....

They make separate entities and account accordingly.
 

VTKilarney

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We certainly don't have any information to indicate that resort fees are being diverted.

I've heard that staff "changes" may not be over. A lot depends on what happens in the next few weeks. I know of at least one person who is going to make a decision soon.
 

faQ

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VTKilarney;916549 I've heard that staff "changes" may not be over. A lot depends on what happens in the next few weeks. I know of at least one person who is going to make a decision soon.[/QUOTE said:
Staff changes? Who's left? Base-area ops. guy got cut loose last week or so.


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AdironRider

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I did not say that Q was doing this; I merely explained how it is done. It's done for accounting purposes--one entity pays the other. It's done at many places.


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Seriously. This is par for the course at most hotel properties.

Last one I worked at had 12 separate entities. I can't speak directly to Burke's accounting structure, but at the hotel I was working at, it was primarily to limit liability between different facets of the hotel, as well as to delineate performance of individual aspects of the hotel and their resulting revenues/costs.

For example, there were three separate entities for condo units throughout the hotel, one for private ownership that isn't rented, one for private ownership that is rented short term, and one for hotel owned condos (basically ones that haven't sold) that are rented short term. Each restaurant or bar was a separate entity, and so on and so forth. Say they put a new roof on the place down the line, private condo owners are responsible for their respective portion along with the hotel ownership group. Each entity would pay their respective share of that liability or expense, just like the hotel will take their cut from the revenues for managing rentals of privately owned units, and so on and so forth.

This not only separates liability, but also allows you to see the individual performance of different revenue generating departments. Another example being there will be multiple food outlets, rather than just one large bucket you can see the individual performance of say the lobby bar vs. the sit down restaurant, and so on and so forth.

How each revenue stream gets divvied up is relatively unique to each property, but there are GAAP standards for lodging and hospitality properties that keep things relatively uniform.

In this case, the resort fees usually cover the maintenance and upkeep of facilities, as well as operations of non revenue generating amenities throughout the hotel, and are spent accordingly. Think that "free" coffee in the lobby, or the bowl of apples, or your share of the wear and tear on common room furniture, the list goes on. Just like airlines, customers are rate sensitive, so you never wrap these fees into the generic room rate as it will result in lower occupancy rates guaranteed.

So in a way the investors are making it up on the backend when they don't have to dump more capital into the joint to pay for day to day shit, and can just take their room rental income. Most owners don't want to get cash calls every three days to clean the carpets, etc.
 
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thetrailboss

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Looks like most of the new super polecats are installed.

And the web cam is up again

http://qburke.com/mountain-biking/the-trails/weather-and-conditions

I was there today. They're half-way up the Training Hill. They are "supposed to" go to the top of the Poma. Looks like they're still working. I heard that the Willoughby Quad will be certified to run this year...if needed. Most concerning is (1) the trails aren't mowed, and (2) there's A LOT of work left on the Hotel. Specifically the northern (facing the Willoughby Gap) side of the eastern wing had no siding up at all...just Typar. The pool is also coming along.



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