Common use of Other Financial Reports Clause in Contracts

Other Financial Reports. In addition, Manager shall deliver to Owner the following reports within the time periods set forth below: A. Within 25 days after the end of each fiscal quarter, an economic and operational trend analysis for such fiscal quarter. Such economic and operational trend analysis will include, but is not limited to, Hotel actual, budget and prior year’s results for: Gross Operating Revenues, Gross Operating Profit, average daily rate, occupancy levels, RevPAR and measurement of any other metric critical to the financial success of the Hotel. The above referenced data shall be incorporated in a report format satisfactory to Owner (subject to required modifications by Owner from time to time). Significant deviations from the Annual Business Plan shall be accompanied by a written narrative explanation. B. Within twenty five (25) days after the end of each fiscal quarter, reports and financials for the Hotel for such quarter and the fiscal period then ended. Such reports and financials shall include (i) the reports set forth in Section 7.2, (ii) supporting schedules for all balance sheet accounts, (iii) a report analyzing and comparing the actual results of operations with (A) the current Annual Business Plan, together with a narrative explanation of any significant variances and (B) the comparable prior year period, (iv) a schedule of all corporate cost allocations and an explanation of the manner in which the costs are allocated and (v) market conditions, legal proceedings, receivables aging reports and such other information as Owner may request. C. Within 25 days after the end of the each Fiscal Year, a written report on the current status of the Hotel, including without limitation, written discussion of any material variances from the Annual Business Plan during the past year and any current maintenance and capital repair needs. D. On a weekly basis, a calculation of Gross Operating Profit. E. On a daily basis, revenue reports. Manager shall fully cooperate and comply with any reasonable requests of (i) internal or external independent auditors of Owner, and/or Property Owner to enable such auditors to prepare reviewed, verified or audited financial statements in a timely manner, as determined by Owner or (ii) Owner to modify the format and/or content and substance of any of the reports described in this Article VII as well as the delivery method and timing of delivery of such reports.

Other Financial Reports. In addition, Manager shall deliver to Owner the following reports within the time periods set forth below: A. Within 25 days after the end of each fiscal quarter, an economic and operational trend analysis for such fiscal quarter. Such economic and operational trend analysis will include, but is not limited to, Hotel actual, budget and prior year’s results for: Gross Operating Revenues, Gross Operating Profit, average daily rate, occupancy levels, RevPAR and measurement of any other metric critical to the financial success of the Hotel. The above referenced data shall be incorporated in a report format satisfactory to Owner (subject to required modifications by Owner from time to time). Significant deviations from the Annual Business Plan shall be accompanied by a written narrative explanation. B. Within twenty five (25) days after the end of each fiscal quarter, reports and financials for the Hotel for such quarter and the fiscal period then ended. Such reports and 14 financials shall include (i) the reports set forth in Section 7.2, (ii) supporting schedules for all balance sheet accounts, (iii) a report analyzing and comparing the actual results of operations with (A) the current Annual Business Plan, together with a narrative explanation of any significant variances and (B) the comparable prior year period, (iv) a schedule of all corporate cost allocations and an explanation of the manner in which the costs are allocated and (v) market conditions, legal proceedings, receivables aging reports and such other information as Owner may request. C. Within 25 days after the end of the each Fiscal Year, a written report on the current status of the Hotel, including without limitation, written discussion of any material variances from the Annual Business Plan during the past year and any current maintenance and capital repair needs. D. On a weekly basis, a calculation of Gross Operating Profit. E. On a daily basis, revenue reports. Manager shall fully cooperate and comply with any reasonable requests of (i) internal or external independent auditors of Owner, and/or Property Owner to enable such auditors to prepare reviewed, verified or audited financial statements in a timely manner, as determined by Owner or (ii) Owner to modify the format and/or content and substance of any of the reports described in this Article VII as well as the delivery method and timing of delivery of such reports.

Other Financial Reports. In addition, Manager shall deliver to Owner the following reports within the time periods set forth below: A. Within 25 days after the end of each fiscal quarter, an economic and operational trend analysis for such fiscal quarter. Such economic and operational trend analysis will include, but is not limited to, Hotel level actual, budget and prior year’s results for: Gross Operating Revenues, Gross Operating Profit, average daily rate, occupancy levels, RevPAR and measurement of any other metric critical to the financial success of the Hotel. The above referenced data shall be incorporated in a report format satisfactory to Owner (subject to required modifications by Owner from time to time). Significant deviations from the Annual Business Plan shall be accompanied by a written narrative explanation. B. Within twenty five (25) days after the end of each fiscal quarter, reports and financials for the Hotel for such quarter and the fiscal period then ended. Such reports and financials shall include (i) the reports set forth in Section 7.2, (ii) supporting schedules for all balance sheet accounts, (iii) a report analyzing and comparing the actual results of operations with (A) the current Annual Business Plan, together with a narrative explanation of any significant variances and (B) the comparable prior year period, (iv) a schedule of all corporate cost allocations and an explanation of the manner in which the costs are allocated and (v) market conditions, legal proceedings, receivables aging reports and such other information as Owner may request. C. Within 25 days after the end of the each Fiscal Year, a written report on the current status of the Hotel, including without limitation, written discussion of any material variances from the Annual Business Plan during the past year and any current maintenance and capital repair needs. D. On a weekly basis, a calculation of Gross Operating Profit. E. On a daily basis, revenue reports. Manager shall fully cooperate and comply with any reasonable requests of (i) internal or external independent auditors of Owner, and/or Owner or Property Owner to enable such auditors to prepare reviewed, verified or audited financial statements in a timely manner, as determined by Owner or (ii) Owner to modify the format and/or content and substance of any of the reports described in this Article VII as well as the delivery method and timing of delivery of such reports.