A Real Estate Agency specialising in the sale of accommodation businesses has released the results of a survey of financial accounts for motels. The report covers five financial years to March 2020. (As the number of March 2021 samples are reaching reasonable numbers, updated results for that financial year are expected to be released soon.)
Kelvyn Coffey, the principal of Coffey’s Tourism Property Brokers Ltd, said that they had so much financial data on the industry in their possession, that it made sense to put it to good use.
The report, based on the input of over 700 years of financial accounts from throughout New Zealand over the five year period, provides detail on comparative revenues and running costs. These costs are broken down into a number of expense categories, including rental paid as a percentage of revenue and as an average per unit.
Coffey said that this has been a long time in the making, with many thousands of unique data entries and much refinement of the spreadsheet program. The methods and results have been audited by Chartered Accountants PKF Goldsmith Fox Audit Limited. The intention is to continue to grow the depth of the survey as new financial information comes to hand in the future.
The report is being made freely available to the industry and any interested parties. Click here to read.
