Budget Performance Analysis Checklist
Unlock hospitality profitability! Our Budget Performance Analysis checklist helps you pinpoint overspending, maximize revenue, and optimize your hotel, restaurant, or tourism business. Download now & boost your bottom line!
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Data Gathering & Validation
Ensuring the data used for analysis is accurate and complete.
Reporting Period Start Date
Reporting Period End Date
Currency Exchange Rate (if applicable)
Upload Budgeted Income Statement
Upload Actual Income Statement
Accounting System Used
Data Source Notes (e.g., system version, limitations)
Description of any data adjustments made before analysis.
Revenue Performance
Analyzing revenue streams compared to budget expectations.
Total Revenue Actual
Total Revenue Budgeted
Revenue Variance (Actual - Budgeted)
Primary Revenue Source (e.g., Rooms, F&B, Events)
Rooms Revenue Actual
Rooms Revenue Budgeted
Average Daily Rate (ADR) Actual
ADR Budgeted
Occupancy Rate Actual (%)
Occupancy Rate Budgeted (%)
Expense Management
Evaluating expenses against budgeted amounts and identifying areas of overspending or underspending.
Total Actual Operating Expenses
Budgeted Operating Expenses
Variance (Actual - Budgeted)
Variance Percentage ((Actual - Budgeted) / Budgeted)
Detailed Breakdown of Significant Expense Variances (e.g., Food Costs, Labor, Utilities)
Food & Beverage Cost Percentage (Actual)
Food & Beverage Budgeted Cost Percentage
Primary Drivers of Expense Variances (Select All That Apply)
Additional Notes/Explanation of Expense Variances
Key Performance Indicators (KPIs)
Tracking and evaluating key operational metrics that impact budget performance.
Occupancy Rate vs. Budget
Average Daily Rate (ADR) vs. Budget
Revenue Per Available Room (RevPAR) vs. Budget
Food & Beverage Sales vs. Budget
Labor Cost % of Revenue vs. Budget
Group Booking Revenue vs. Budget
Online Travel Agency (OTA) Booking % vs. Budget
Variance Analysis
Identifying and explaining significant differences between budgeted and actual performance.
Total Revenue Variance (Actual - Budget)
Total Expense Variance (Actual - Budget)
Rooms Revenue Variance
Food & Beverage Revenue Variance
Labor Cost Variance
Explain significant revenue variances (> +/- 10%)
Explain significant expense variances (> +/- 10%)
Primary Driver of Revenue Variance
Primary Driver of Expense Variance
Root Cause Identification
Understanding the underlying reasons for variances observed in the analysis.
Describe any significant shifts in market conditions impacting revenue (e.g., new competitor, change in tourism trends).
Detail any changes in operational procedures or staffing levels that might have influenced performance.
If occupancy rates deviated from projections, what was the percentage difference?
Was there a significant change in pricing strategy? (e.g., promotional offers, dynamic pricing)
Which of the following factors potentially contributed to increased operating expenses? (Select all that apply)
If 'Other' was selected in the previous question, please elaborate.
Date of significant event influencing performance (e.g., major event cancellation, unexpected closure).
Summarize any internal communications or feedback received that may explain performance variations.
Recommendations & Corrective Actions
Suggesting actions to improve future budget performance.
Summarize recommended adjustments to pricing strategies.
Estimated cost savings from implementing efficiency improvements (e.g., energy consumption).
Which operational areas require enhanced training to improve performance?
Target completion date for implementing the most critical corrective action.
Outline potential risks associated with the recommended corrective actions and mitigation strategies.
Projected increase in guest satisfaction score based on implemented changes.
Level of urgency for implementing this corrective action (High, Medium, Low).
Documentation & Reporting
Ensuring all analysis and findings are properly documented and communicated.
Executive Summary of Findings
Spreadsheet with Detailed Budget vs. Actual Data
Detailed Explanation of Significant Variances
Report Distribution Method (e.g., Email, Shared Drive)
Date of Analysis Completion
Recommendations for Future Budgeting Cycles
Report Version Number
Analyst Name
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