Occupancy
59.4%
▼ vs 65.0% (Mar) · T12: 61.0%
ADR (Mews)
$99.70
▲ vs $96.68 (Mar) · T12: $83.17
RevPAR
$59.20
▼ vs $62.81 (Mar) · T12: $50.70
GOPPAR
$32.06
▲ vs $23.93 (Mar)
Total Revenue
$84.5K
▲ +$16,934 vs budget (+25.1%)
NOI
$41,358
▲ +$14,218 vs budget (+52.4%)
Net Income
$21,090
After $20,369 interest
Cash on Hand
$87,292
3 accounts · stable
Revenue vs Budget — April 2026
Top 3 Flags This Month
1
Housekeeping 122% Over Budget
2
Unit A — Rent $0 (Not Paid)
3
Legal $6,842 — Syndication Rush Fees
P&L Summary — April 2026
| Line Item | Actual | Budget | Variance | % |
|---|---|---|---|---|
| Total Income | $84,471 | $67,537 | +$16,934 | +25.1% |
| Total Expenses | $43,113 | $40,396 | +$2,717 | +6.7% |
| Net Operating Income | $41,358 | $27,140 | +$14,218 | +52.4% |
| Interest Expense | ($20,369) | — | Informational | 24.1% of rev |
| Other Income (Vendor Comp) | $101 | — | — | — |
| Net Income | $21,090 | $27,140 | ($6,050) | -22.3% |
Flow-through: 84¢ of every revenue dollar over budget flowed to NOI. Net income below budget solely due to interest expense ($20,369 not in budget).
NOI Waterfall
Expense vs Budget by Category
| Account | Actual | Budget | Variance $ | Variance % | Status |
|---|---|---|---|---|---|
| 61000 Admin Expenses | $3,596 | $4,693 | ($1,097) | -23.4% | ✅ FAV |
| 64500 Legal & Professional | $6,842 | — | No Budget | FLAG | ⚠️ FLAG |
| 65000.4 Mgmt Fee (6.94%) | $5,857 | $4,728 | +$1,130 | +23.9% | 📊 NORMAL |
| 66400 Personnel Total | $13,403 | $11,045 | +$2,358 | +21.4% | ⚠️ UNFAV |
| 66400.4 Housekeeping | $6,918 | $3,120 | +$3,798 | +121.7% | 🔴 HIGH |
| 66400.7 On-Site/Lobby | $3,077 | $4,583 | ($1,506) | -32.9% | ✅ FAV |
| 66700 Property Site | $2,887 | $2,558 | +$329 | +12.9% | Minor |
| 67200 Room Turn | $6,481 | $8,206 | ($1,725) | -21.0% | ✅ FAV |
| 69500 Utilities | $3,136 | $2,500 | +$636 | +25.4% | ⚠️ UNFAV |
| 69500.1 Electric | $2,416 | $1,500 | +$916 | +61.1% | ⚠️ FLAG |
| TOTAL EXPENSES | $43,113 | $40,396 | +$2,717 | +6.7% | — |
Revenue Channel Mix — April 2026
Channel Breakdown
| Channel | Revenue | % Mix | vs Mar |
|---|---|---|---|
| Standard Stay | $54,791 | 65.0% | ▼ $65,509 |
| Extended Stay 30+ | $10,693 | 12.7% | ▲ $4,515 |
| Airbnb | $12,305 | 14.6% | ▲ $7,592 |
| Booking.com | $5,885 | 7.0% | ▲ $2,397 |
| Early CI/Late CO | $796 | 0.9% | — |
| Total Room Rev | $84,471 | 100% | — |
⚠ Unit A — Rent: $0 vs $4,000 budget. Tenant non-payment. Escalate to Chris immediately.
Monthly Stay Trend (New Service Line — Month 1)
April 2026: 90 room-nights · $3,483 revenue · 11.7% of occupied room-nights · Avg rate $38.70/night.
Target: 20%+ mix by Q3 2026.
ADR & RevPAR vs T12 Avg
Revenue & NOI — 12-Month Trend (May 2025 – April 2026)
Known anomalies: May 2025 NOI impacted by $41,346 insurance front-load. December 2025 Net Income ($65,473) loss = $37,437 property tax lump-sum. Both non-recurring.
Occupancy · ADR · RevPAR — 12-Month Trend
Inventory expansion January 2026: Available rooms ~957 → 1,333/month. RevPAR normalizes for expansion and is the preferred YoY metric.
T12 Summary Table
| Month | Revenue | Occ% | ADR | RevPAR | Expenses | NOI | Net Income |
|---|---|---|---|---|---|---|---|
| May-25 | $48,040 | 66.2% | $77.07 | $51.01 | $67,695* | ($19,655) | ($39,223) |
| Jun-25 | $42,308 | 56.7% | $69.88 | $39.60 | $35,443 | $6,865 | ($12,465) |
| Jul-25 | $44,284 | 62.0% | $70.34 | $43.62 | $27,818 | $16,465 | ($3,054) |
| Aug-25 | $27,013 | 58.3% | $63.37 | $36.94 | $24,253 | $2,760 | ($9,705) |
| Sep-25 | $33,524 | 50.7% | $67.95 | $34.42 | $28,217 | $5,307 | ($14,518) |
| Oct-25 | $55,789 | 67.4% | $82.03 | $55.29 | $24,890 | $30,899 | $7,744 |
| Nov-25 | $47,837 | 69.3% | $78.36 | $54.26 | $25,813 | $22,024 | ($4,828) |
| Dec-25 | $54,199 | 61.7% | $72.88 | $44.93 | $74,024** | ($19,825) | ($65,473)** |
| Jan-26 | $59,469 | 51.0% | $73.41 | $37.45 | $37,978 | $21,491 | ($4,286) |
| Feb-26 | $90,391 | 65.5% | $120.81 | $79.07 | $48,138 | $42,253 | $12,455 |
| Mar-26 | $80,923 | 65.0% | $96.68 | $62.81 | $49,031 | $31,892 | $12,402 |
| Apr-26 ◀ | $84,471 | 59.4% | $99.70 | $59.20 | $43,113 | $41,358 | $21,090 |
*May-25: Insurance front-loaded ($41,346). **Dec-25: Property tax lump-sum ($37,437). Both non-recurring.
Annualized NOI Run-Rate (last 3 months avg × 4): ($42,253 + $31,892 + $41,358) ÷ 3 × 4 = $154,005 annualized ·
T12 baseline: $181,835 · Run-rate = 84.7% of T12 — slightly below prior year, but trend is strongly positive.
Personnel Sub-accounts vs Budget
Key Ratios
Labor % of Revenue15.9% (Target 25–35%)
Host Commission % (67200.2/40100)6.7% ✅ (Target 5.5–7.5%)
PM Fee % of Revenue6.9% (Target ~5.6–7%)
Interest % of Revenue24.1% ⚠
Housekeeping (66400.4)$6,918 (+122%)
Guest Comms (66400.2)$2,419 (+10.8%)
On-Site/Lobby (66400.7)$3,077 (-32.9% FAV)
On-Call (66400.6)$700 (no budget)
Personnel Total$13,403
Housekeeping GL Detail — April 2026 (All transactions)
| Week | Contractor | Description | Amount |
|---|---|---|---|
| 03/23–03/29 | Maria Mariche | Greisy — 65.5 hrs @$17/hr | $1,113.50 |
| 03/23–03/29 | Maria Mariche | Mariana (backup) — 10.02 hrs @$16 | $160.32 |
| 03/23–03/29 | Maria Mariche | Angela (backup) — 10 hrs @$16 | $160.00 |
| 03/30–04/05 | Maria Mariche | Greisy — 43.12 hrs @$17 | $733.04 |
| 03/30–04/05 | Maria Mariche | Mariana — 21.92 hrs @$16 | $350.72 |
| 03/30–04/05 | Maria Mariche | Angela — 7.02 hrs @$16 | $112.32 |
| 03/30–04/05 | Patricia Roder | Patricia — 9 hrs @$16 | $144.00 |
| 04/06–04/12 | Maria Mariche | Greisy — 58.75 hrs @$17 | $998.75 |
| 04/06–04/12 | Maria Mariche | Mariana — 8 hrs / Angela — 7 hrs @$16 | $240.00 |
| 04/06–04/12 | Patricia Roder | Patricia — 10.15 hrs @$16 | $162.40 |
| 04/13–04/19 | Maria Mariche | Greisy — 61.08 hrs @$17 | $1,038.36 |
| 04/13–04/19 | Maria Mariche | Mariana 9.05 + Angela 9.05 hrs @$16 | $289.60 |
| 04/13–04/19 | Patricia Roder | Patricia — 14.05 hrs @$16 | $224.80 |
| 04/21–04/26 | Maria Mariche | Greisy — 58.82 hrs @$17 | $999.94 |
| 04/21–04/26 | Patricia Roder | Patricia — 11.87 hrs @$16 | $189.92 |
| TOTAL — Revise budget to $6,500–$7,000/month | $6,917.67 | ||
Note: First 2 billing cycles (weeks of 03/23–04/05 = ~$2,773) are March labor billed in April. Even adjusting for this, the budget of $3,120 remains substantially understated for current crew size.
Legal & Professional GL Detail — April 2026
| Date | Vendor | Description | Amount |
|---|---|---|---|
| 04/02 | Syndication Attorneys PLLC | Supplemental Billing (2/10/26–3/18/26) — Fund syndication work | $4,581.50 |
| 04/16 | Syndication Attorneys PLLC | Blue Sky Notice — Louisiana & Wyoming (fund state registration) | $660.00 |
| 04/16 | Syndication Attorneys PLLC | Blue Sky Processing Fee ($50 × 2 states) | $100.00 |
| 04/16 | Syndication Attorneys PLLC | Rush Fee — fund close timing pressure | $1,500.00 |
| Total — Capital raise, not property operating expense | $6,841.50 | ||
Unit A — Commercial Tenant
$0
April Rent Collected
Budget: $4,000/month
⚠ Confirm lease status immediately. If 3+ months non-payment, initiate demand letter.
Monthly Stay Service Line
11.7%
Of Occupied Room-Nights
90 nights · $3,483 revenue
Avg rate: $38.70/night
✅ Month 1 live. Target 20%+ mix by Q3 2026.
Out of Order Rooms
0
OOO Room-Nights in April
1,290 available · 766 occupied
✅ All inventory available for sale.
Interest Expense Tracker — April 2026 & YTD
| Loan | Balance | April Interest | YTD 2026 (Jan–Apr) | Notes |
|---|---|---|---|---|
| Note Payable — Resource 7575 | $967,500 | $3,930 | ~$15,716 | Permanent mortgage |
| LOC — Resource #9225 | $2,267,500 | $11,692 | ~$46,715 | Construction LOC — dominant driver |
| Loan 82218306 (LaBella) | — | $4,747 | ~$18,965 | LaBella account interest |
| TOTAL | $3,235,000+ | $20,369 | $95,664 | 24.1% of April revenue |
Cash Position — As of April 30, 2026
Primary (8360)
$81,857
Operating account
LaBella (8094)
$435
Secondary
Robora Sweep
$5,000
Funded Apr 21
TOTAL CASH
$87,292
~1.0 month revenue
Debt Summary
| Obligation | Balance | Type |
|---|---|---|
| LOC Resource #9225 | $2,267,500 | Construction LOC |
| Note Payable 7575 | $967,500 | Permanent Mortgage |
| Total Debt | $3,235,000 | — |
| Accounts Receivable | $686 | Good collections |
| Accounts Payable | $342,413 | ⚠ Review aging |
⚠ Note: AP balance of $342,413 appears elevated relative to $43K monthly expense run-rate. Review aging schedule and confirm no overdue vendor obligations.
YTD Net Income (Balance Sheet) — FY2026
| Month | Net Income | Cumulative YTD |
|---|---|---|
| January 2026 | ($4,286) | ($4,286) |
| February 2026 | $12,455 | $8,169 |
| March 2026 | $12,402 | $20,571 |
| April 2026 | $21,090 | $41,661 |
Balance sheet Net Income of $41,661 = sum of Jan–Apr 2026. Strong recovery from ($4,286) January loss.