SOP For Special Event Analysis
SOP Number: Finance and Accounting – 18
Department: Financial Control
Date Issued: 8-Aug-2021
Time to Train: 25 Minutes
Purpose of Special Event Analysis:
A P&L analysis must be prepared BEFORE accepting any heavily discounted rooms business and BEFORE beginning any special programs or promotions.It is the responsibility of both the General Manager and Controller to insure that the proper analysis has been prepared before rooms are booked or promotions are begun.
Special Event Analysis SOP Procedures:
All analysis must show expected revenues and all incremental costs, including both one time costs and ongoing costs. In addition, analysis for any promotion must calculate a break-even point so that we know exactly when a situation becomes uneconomical.
Both the General Manager and the Controller must sign the Special Event Analysis. All analysis should be kept on file and the Controller must do a quarterly analysis of actual compared to analysis. The objective of this analysis is to expand successful promotions and to eliminate unsuccessful ones.
The following information must be included on all Special Event Analysis as applicable:
Contract or Promotion Description
Training Summary Questions:
Q1. When should a P&L analysis must be prepared?
Q2. What is the General Manager's role in the analysis process?
Q3. Who must sign the Special Event Analysis?
Q4. What information should be included on all Special Event Analysis?