How Much Money Does My Hotel Make? (profit & loss revealed)
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- Опубликовано: 10 окт 2024
- Have you ever wondered how much money hotels can make? Well in this video I'll show you behind the scenes at my hotel and reveal exactly how much everything costs and how much profit we've made.
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Who am I?
My name is James Sinclair and I'm the founder and CEO of The Partyman Group of Companies. I started building my business when I was just 16 as a family entertainer after that I built up an entertainment agency, then moved into building a leisure and day nursery businesses. Today we operate a £30 million business which includes leisure, childcare, outdoor attractions, commercial property, arts and crafts manufacturing as well as one of the UK’s oldest Ice cream companies; The Rossi Ice Cream Company.
#business #entrepreneur #businessowner
Upvoted just for showing your numbers.
Most valuable, yet no one does it.
As an ex hotelier I love to see these videos. Maldon has a high street full of restaurants now so it's a very competitive market. The joint venture idea is good but also problematic as you need to make sure the relationship is strong. Also the deal has to be very win win with the deal slightly favouring the other party. They're taking the higher risk and venues that strike to hard a deal lose in the medium term if the restaurant can't make money. Love what you've done with the rooms, keeping it individual is important for this type of property.
where's the higher risk when they would have access to booking numbers, as well as a captured market?
Looking very dapper Mr Sinclair!! Great video, love the content on here and on the podcast.
Wow 20k a room! We are just doing a pub and converting upstairs into 7 letting rooms and have budgeted 5k per room, ours isn’t the ritz though
Are you including Labour?
@@JamesSinclairEntrepreneur yes which will be a mix of doing it ourselves for the donkey work and a skilled worker on day rate working with us so we can set the pace. This property is lower end though and will be rented out at £75 a night aimed more at builders in the week and stag do types at the weekend. Cheap and cheerful.
Nice to see the numbers, I definitely would like to see an update going forward, surprised by the drink sales, hopefully that will increase threefold with opening the restaurant
These videos are brilliant. Very eye opening. Thanks for making them.
Probably my favourite video yet. It's great to see the numbers!
Glad you enjoyed it!
Really enjoyed seeing the management accounts
You should do a numbers video on party pieces, i’m in online retail so that would be helpful.
Love seeing the numbers! We've handled our Gas & Electricity costs by recording them as a rolling manual journal to smooth out the P&L, so we avoid fluctuations like that. Also, is your other limited company charging the hotel business £800 for rent? Just curious-what would the usual rent roll be?
I don’t understand what you mean about the £800 ?
I like your energy and motivation, it's infectious ⚡
Thoroughly enjoyable and informative video - I have to admire your transparency
The best in the business, thanks mate.
NB love your suits and tie!
Also OASIS and a whole bunch of pther gigs are happening nexzt year which is a huge huge hige opportunity for accommodation bookings.
Michael is my man. He’s amazing at suits and accessories.
Check him out here
instagram.com/michael_frackowiak?igsh=YzljanJ5ZnU2M3Bo
Excellent content I always enjoy it. Not so sure about the numbers on this one though. The GP on drink sales seems very low at 61%, and you seem to have spent £12k on food purchases to do £4.8k of food sales. Not that you need advice on business, but having been in hospitality for years those numbers would concern me!
Thank you for sharing!
Your videos make me want to start a business immediately! I have the drive but lack a good idea 😂
check out his videos mate - he looks into various business models that he believes are good/bad.
Great video - love the whiteboard and info on bank lending criteria
Glad it was helpful!
What software are you using for your management accounts ? I've tried a few but can't get past coming back to Excel every time for flexibility but always hoping the "best" system is out there somewhere.
Evivvo
I can't understand nothing about running a hotel.
I truly believe most of hotel and restaurant owner want to own a palace or a temple more than everything and feel royal every saturday.
Please tell me how wrong I am ?
What about the new sick pay for staff as a employer this will affect lots of businesses
I try my very best to not comment on politics on my channel. That said if this budget is as bad as people are saying it’s going to be, I will air my opinions.
I want people to earn and have great lives, the reality is companies have high revenues and give the government more in turnover taxes than ever before.
Would you get the book keeper to do a divisional P&L so you can track the performance of each section e.g. Restaurant & accommodation?
@@inflationreport3357 yes we absolutely do that.
Fantastic inspiring video
Love your videos, channel, and insights. You should be knighted for your services to entrepreneurism. And I’m deadly serious. You’re an exemplar businessman and sharing your knowledge. Far more of a contributor to UK PLC than any of the “no-marks” that get acknowledged. The country needs your influence more than ever before.
Arise, Sir James, you are exceptional.
Thank you for all that you do for business people and your superb videos.
Sincerely
Si 👏👏🩵🩵
PS - your, & JBs, laughing fits were video, and RUclips, gold. I was laughing along 🤣🤣
Thanks for your kind words Squire
Good video Jimbo
Its one thing knowing its better at scale, but how do you know the demand is there to spend so much in advance?
Google helps. You can search traffic and data. And as each room opens up we continue to fill it. If that stopped, we’d stop.
Great video.
What would the JV partnership look like James? Cut of turnover or fixed fee?
Surely JV would be percentage? Otherwise it's just a tenant/landlord relationship
It’ll be a split of profits, we’d put the capex in as a loan and then split the profits. They’d bring Management and expertise, we’d bring the location.
Do you charge to stay in your car park, if you stay in your Hotel?
Free for customers. We charge for people that are not our customers so that we have priority for customers.
@@JamesSinclairEntrepreneur Thankyou Mate, Nice Hotel!
Did Gordon say hello to this place
Legend!
Cheers J
Are you looking forward to or dreading the budget at the end of the month ?
Dreading it. That said you are your own economy and you’ll have to make it work.
@@JamesSinclairEntrepreneur if it is to be it must be me
Potato potata
I don't know ,cbut been following for a while, your coming across silly.
If you are making that much money, pay your staff more.
Nobody asked for your advice.
My payroll is a million pounds a month. Ebitda as I said in the video is not the same as net profit.
As people get promoted within our organisation they can earn excellent salaries. All of our senior team started on minimum wage and are now the leaders in our company.
@@JamesSinclairEntrepreneur My bigger question is how much money is the right about to make? When do you know that you have made enough, and it's time stop making more for yourself, and let others share in it? Is there a point, do you think, when having too much money becomes a moral hazard?
@@eliasblum753your comment made me laugh. Employees want all the upside in business but none of the downside. No employee will put their hand in their pocket when a business fails but they have their hand out when it's succeeding.
@elisablum753 unbelievable, I can only assume you’re an entitled work shy socialist.
Great video