Chi tieu Von va Ke hoach Cai thien Tai san
Tong quan Module
Capital Expenditures (CapEx) va Property Improvement Plan (PIP) la nhung khoan dau tu lon, dai han quyet dinh den chat luong va kha nang canh tranh cua khach san. Module nay se giup ban hieu cach lap ke hoach, danh gia va quan ly cac khoan dau tu nay.
Muc tieu hoc tap
- Phan biet CapEx vs OpEx
- Hieu cac loai CapEx trong khach san
- Lap va quan ly FF&E Reserve
- Danh gia ROI cua CapEx projects
- Hieu PIP requirements tu brands
1. CapEx vs OpEx
Phan biet CapEx (Capital Expenditures) va OpEx (Operating Expenditures) la buoc dau tien de hieu ve dau tu tai san.
| Khia canh | CapEx | OpEx |
|---|---|---|
| Dinh nghia | Dau tu mua/nang cap tai san dai han | Chi phi hoat dong hang ngay |
| Loi ich | Nhieu nam (>1 nam) | Ngan han (<1 nam) |
| Ke toan | Capitalize -> Depreciate | Expense ngay |
| Vi du | Mua FF&E, renovations, building | Sua chua, bao tri nho, supplies |
| Impact P&L | Depreciation theo tung nam | Full amount ngay |
Nguong phan biet: Thong thuong, chi phi > $1,000 - $5,000 va co useful life > 1 nam se duoc capitalize thanh CapEx. Duoi nguong nay la OpEx.
2. Loai CapEx trong Khach san
CapEx trong khach san duoc phan thanh nhieu loai tuy theo muc dich va tinh chat:
| Loai | Mo ta | Vi du |
|---|---|---|
| Replacement CapEx | Thay the FF&E hong/cu, duy tri standards | Thay giuong, TV, carpet hong |
| Renovation CapEx | Nang cap toan dien, thay doi design | Renovate lobby, upgrade phong |
| Expansion CapEx | Mo rong, them dien tich/phong | Xay them tang, them 50 phong |
| Technology CapEx | Dau tu he thong IT, software | PMS upgrade, WiFi system |
| Emergency CapEx | Sua chua khan cap, khong len ke hoach | Thay thang may hong, sua mai dot |
3. FF&E Reserve
FF&E Reserve (Furniture, Fixtures & Equipment Reserve) la quy du phong de tai tro cho replacement va renovation CapEx. Day la BEST PRACTICE quan trong nhat trong quan ly CapEx.
3.1. Cach tinh FF&E Reserve
Cong thuc FF&E Reserve:
FF&E Reserve = Total Rooms Revenue x %
Thuong: 3-5% cua Rooms Revenue
Benchmarks:
| Loai khach san | FF&E Reserve % |
|---|---|
| Limited Service | 3-4% |
| Full Service | 4-5% |
| Luxury / Resort | 5-6% |
Vi du tinh toan: Khach san Full Service co Rooms Revenue = 60 ty VND/nam FF&E Reserve = 60 ty x 4% = 2.4 ty VND/nam
3.2. Best Practices
- Dong gop hang thang: Chuyen tien vao FF&E account moi thang, khong cho cuoi nam
- Tai khoan rieng biet: Giu FF&E Reserve trong account rieng, khong tron voi operating cash
- Long-term plan: Lap ke hoach CapEx 5-10 nam de biet can bao nhieu
- Track spending: Monitor CapEx spending vs Reserve fund thuong xuyen
4. Property Improvement Plan (PIP)
PIP la ke hoach cai thien tai san BAT BUOC tu brand (cho franchised hotels) hoac tu ownership. PIP dam bao khach san maintain brand standards.
4.1. Khi nao co PIP?
- Brand switch: Khi doi brand (vi du: Holiday Inn -> Hilton)
- Contract renewal: Gia han franchise agreement
- Brand inspection: Sau khi brand QA inspection phat hien deficiencies
- Major renovation: Khi property can major upgrade
4.2. Noi dung dien hinh cua PIP
| Category | Yeu cau dien hinh |
|---|---|
| Guest Rooms | New carpet/flooring, paint, soft goods, bathrooms upgrade |
| Public Areas | Lobby renovation, new signage, lighting upgrades |
| Exterior | Facade cleaning, parking lot repaving, landscaping |
| Systems | HVAC upgrade, fire safety compliance, PMS system |
Chi phi PIP: PIP thuong cost $10,000 - $30,000 USD/phong tuy scope. Day la khoan dau tu LON!
5. Key Takeaways
Diem quan trong can nho:
- CapEx khac OpEx: CapEx capitalize & depreciate, OpEx expense ngay
- FF&E Reserve = 3-5% Rooms Revenue - du phong cho CapEx
- 5 loai CapEx: Replacement, Renovation, Expansion, Technology, Emergency
- PIP la ke hoach cai thien bat buoc tu brand
- Long-term planning cho CapEx la critical - plan 5-10 nam
Chuyen sang Module 9: Hotel Valuation Basics