average profit per hotel room

Here, you need to take into account the total cost of operating a hotel per room. 5. Give customers an innovative experience. The average U.S. hotel occupancy rate is 67% as of August 2022. It measures the income of each seat available in an hour. Save my name, email, and website in this browser for the next time I comment. Value = ADR x 1,000 x Number of Rooms. Cost per occupied room, or CPOR, is a measure of the average cost of a hotel guest occupying a guestroom, including both fixed and variable costs. Total room revenue is a KPI that shows how much revenue your hotel generates for all occupied rooms in a certain measured period. These expenses are found within all operating departments, which include rooms, sales & marketing, and property operations, to name a few. Some do, but not all managers live at the hotel. Key Performance Indicators For Hotels in 2021 The threat of COVID infection still looms large, and with less staff on board at many hotels, hoteliers have more to worry about than ever. A top guest experience is what you need to have repeat guests and to ensure that your hotel continues to flourish and guests choose you instead of the competition. Hotels & Motels Industry Analysis Remember to exclude rooms occupied by staff. As similar, as they sound. More expenses, less income: When your expenses exceed the income, it is natural that your business will suffer from a loss. Occupancy = (Total Number of Occupied Rooms / Total Number of Available Rooms) * 100Example: If your hotel has 50 occupied rooms out of 70 during a particular period, the occupancy rate for that period is 71.4%. The hotel industry is one of the industries with the lowest profit margins, seeing as there are a lot of fixed costs in order to have a hotel up and running. What is a good profit margin in hospitality? Use a commission-free booking engine. var f = d.getElementsByTagName( s )[0], You can apply it to any period to see how well your hotel is performing over time. It is time to curb spending and find ways to reduce expenditures if you want to see a return on your investmentand be in the black instead of the red at the end of the year. 10 Best Types of Vacuum Cleaners for Hotel for 2023, 8 Best Types of ADA Doorbell for Hotel in 2023, 10 Best Types of Furniture for Hotel Lobby in 2023, 10 Best Books for Hotel Management in 2023, The difficulty of obtaining original parts for older equipment, The possibility of lead or asbestos in older buildings that will need to be remediated at the time repair work is done. Whats more, keep in mind that the RevPAR hotel formula doesnt consider other revenue streams, like spa, selling tours, tourist tickets, airport transfers, etc. Thus, make sure to reduce your costs and hike your profits before it's too late. Total Room Revenue Total room revenue is a KPI that shows how much revenue your hotel generates for all occupied rooms in a certain measured period. This was achieved at an occupancy level of 36.6 percent. 10 Tips to Improve Your Housekeeping Operation, 8 Oct 2021 Turning cigar lounge design ideas or another dream into reality with Which of the following is a characteristic of relevance? Use this to figure out the total gross profit you will earn from the rooms in your budget hotel. Calculate Profit Margin for a Budget Hotel. The average daily rate of the hotel is $100. Gross Margin of Hotels | Small Business - Chron.com A high RevPAR means a high occupancy rate, or a high ADR (or both), which means better hotel performance and profitability. EBITDAR = EBITDA (Total Revenue - Expenses) + Restructuring or Rent CostsExample: Lets say your total revenue for a particular period is $100,000, and you need to spend a total of $45,000 for interest, taxes, depreciation, and amortization. According to reports, the average hotel room in New York City costs between $240 and nearly $400 a night, depending on the time of year. Awesome working tips on how to increase hotel revenue, Why You Shouldnt Only Consider Competitor Prices When Adjusting Room Price, How to Optimize Room Rent and Boost Revenue with AI-Driven Hotel Revenue Management System, 4 Tips to Boost Hotel Revenue and Profit in 2023, How to Boost Hotel Revenue: Revenue Management Strategies. What are the Advantages of Staying at Boutique Hotels? Most Recent Contracts Date Total Award Amount Can't find what you're looking for? Please create an employee account to be able to mark statistics as favorites. You dont want the new items to look jarringly out of place. He is also repaying, with interest, the financing on the property's . While the industry is pretty tight-lipped about it, it is estimated that the average profit turned by a hotel chain owner is between $40,000 and $60,000 per year. This metric tells how much revenue a hotel makes on average per room on any given day. Will Hotels Decorate Your Room for Birthdays or Other Occasions? w[l] = w[l] || []; This can vary wildly depending on the region, the type of hotel, and the reputation of the business. Track & Calculate the Top 7 KPIs for Beach Hotels - finmodelslab.com Maintain an overall retention rate of over 90%, with a 40% increase among strategic partnerships over the past two years, while creating and . These cookies allow a website to remember choices you have made in the past, like what language and currency you prefer, remember your name and email and automatically fill forms. . Take the average number of rooms booked each month and determine the total gross profit from the rooms. For example, you can attract more clients during peak hours, like lunch or dinner, or run promotions. Its a necessary performance metric for calculating your RevPAR and GOPPAR. This is only the physical equipment and materials, not to count all of the labor hours and costs for hiring employees that goes into hotel property maintenance. In the latter case, there are a lot more employees to manage and a lot more finicky guests who need to be dealt with. Can a Parent Rent Hotel Room for Unaccompanied Minor in 2023? Hotel Directories. She is deeply passionate about helping hoteliers unlock significant new revenue streams from unsold premium inventory. This fee helps the franchisor pay for marketing the brand in national and/or local markets, which directly benefits you. Eva has over a decade of international experience in marketing, communication, events and digital marketing. How much money does a hotel make monthly? For example: If your hotel is occupied at 70% with an ADR of $100, your RevPAR will be $70. I suggest taking the average over the last 12 months to see what a single month really looks like at your hotel. How do I start a successful hotel business? What is GOPPAR? How can it benefit your hotel? | STR Dividing it with the number of bookings will show you your ALOS. What is a good profit margin in hospitality? LOS = Checkout Date - Check-in DateExample: If a guest has checked in on March 15 and checked out on March 21, the LOS would be 6. In addition, it indicates how much money the hotel has made from the room. You need a Statista Account for unlimited access. The foundations of hotel businesses have changed, so it only makes sense to review the ways in which hotels measure success as well. How Much Do Hotel Owners Make? - Epos Now The definitive guide to hotel parking counts | STR Its important to have an idea of what the industry average is in order to get an idea of how your hotel stands against the general industry trends and where you need to focus your efforts in order to improve profitability, whether that be by cutting costs or having a more efficient use of resources, both human resources and utilities. In such a competitive industry where margins are limited, its important to optimize your pricing strategies and practice revenue management, while understanding your operating expenses in order to determine where your profitability pitfalls lie. F&B Trends: Catering, Banquets Lead in Revenue Growth This means that for every dollar you receive in revenue, you'll be able to keep 10-15 cents as profit. GOPPAR = Gross Operating Profit (GOP) / Number of Available RoomsGross Operating Profit = Total Room Revenue - Gross Operating ExpensesExample: If your total room revenue is $50,000 and your gross operating expenses are $15,000, you would need to divide the GOP of $35,000 with 20 available rooms, for instance. You spend so much time and money making a special place, and you want to share it with the people you love. Fixed monthly bills, like cable and internet. Canadian Hotel Development Cost Survey 2018 - Hotel-Online 2021 averages are still very much to play for. Worlds Best Independent Hotel PMS Provider - World Travel Tech Awards 2022, Best Property Management System - Hotel Tech Awards 2020, 2022 Best Places to Work in Hotel Tech Winner, Great Place to Work Certified - United Kingdom, Great Place to Work Certified - Czech Republic. [1] Things to consider before buying a hotel Profit vs. Income Hotel operating costs are those required to keep your hotel running, such as costs of food and beverage, commissions, and utility costs. This is the estimated income you expect to receive for the total hotel bookings in any given month. When you want to estimate the monthly RevPAR, multiply daily RevPAR by the number of days. In addition, if your hotel has an occupancy rate below 100% and the RevPAR is below ADR, its a signal you could lower the average daily rate to fill in the rooms. In May 1899, the two met again in Beaver Dam, Wisconsin, where they decided the goal of their association . In fact, restaurant profit margins in the United States in 2019 hovered anywhere between just 3 and 9% and since then the world has been upended. On average, per group roomnight, luxury hotels are seeing $158 in catering-and-banquets food revenue and $29 in C&B beverage revenue, compared to $96 in food and $12 in beverage at upper. A holiday weekend can potentially kick up prices by triple their normal cost or more, so it is crucial to set prices based on what people will pay. Please do not hesitate to contact me. })(window,document,'script','dataLayer','GTM-PQPK8WF'); Per seat? You can't quickly reduce costs to match declines in occupancy rates and guest spending, so net margins vary widely. RevPAR stands for revenue per available room. Hospitality hot takes straight to your inbox. That means that your hotel guests stayed an average of four nights at your hotel during that month. 5. How do you calculate profit percentage in a room? More details, https://www.upstay.tech/author/arielle-gibson/. CPOR is calculated by dividing total room department costs by the total rooms sold in a given period. In, hotelnewsnow.com. Both of these recurring franchise fees are paid from your profits, further reducing your actual income. | Profit per room in the U.S. reached the highest levels recorded for the year this past October, a report from data analyst HotStats shows. While writing about the RevPAR formula, its worth mentioning about RevPAR index. Greenbayhotelstoday is a website that writes about many topics of interest to you, a blog that shares knowledge and insights useful to everyone in many fields. Here are 6 variable costs to consider: Most times, business owners looking to own hotels prefer to acquire a franchise but hardly realize the full cost of franchise fees. So let us explain to you the ADR meaning in the hotel. People constantly book overnight stays and holidays. On any particular day, when the occupancy rate is 80% (i.e. Will I get a bigger tax refund if I make more money? ADR is used to calculate the average rental revenue per occupied room at a given time. Learn more about how I calculate the profit margin for the budget boutique hotel here in Mexico where I am the manager. Some hotels may have profit margins as low as 1-2%, while Continue Reading Sponsored by Foursquare The Most Trusted Geospatial Data. Ask the guests if they need an upgrade. See 1,606 traveler reviews, 356 candid photos, and great deals for Minerva Hotel, ranked #3 of 27 hotels in Arezzo and rated 4 of 5 at Tripadvisor. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Luxury Hotels: Elevated Occupancy and Expenses It can help you manage your service hours better and optimize your prices. ADR shows you the average price from a sold room. How much does a 5 star hotel earn in a month? Hotel ADR measures the average price paid per room. According to Shmoop.com, the owner of a chain hotel can expect an average hotel owner's salary of $50,000, with a range of $40,000 to $60,000 a year. Subtract the total expenditures per month from the average income from the bookings. This is usually a property's largest single fixed cost. You can only download this statistic as a Premium user. Of course, here important is choosing the suitable competitors set, offering similar services to yours. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. to incorporate the statistic into your presentation at any time. In 2020 hotel profitability decreased dramatically; as of June 2020 average hotel profit margin was around 18%. According to an AMPM Hotel supply statistics (October 2018), approximately 150,000 new hotel rooms are expected to enter London by 2020. 3 Most Profitable Luxury Hotels - Investopedia As a general rule, a healthy profit margin lies at around 10%, whereas 5% is a low margin and 20% is a high margin. TRevPAR (Total Revenue per Available Room), RevPASH (Revenue per Available Seat Hour), EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring or Rent Costs). Rooms rates in luxury hotels are limitless and, on an August weekend, the price of an average five-star hotel room in New York is $351 per night, with many closing in on $1,000. Marriott International Meanwhile, RevPAR gives you insights on the, 60 x 365 days = 21.900 available rooms in a year, Expenses like wages and bills = $1.5million. The organization began in the Fall of 1898, when two traveling salesmen, John H. Nicholson of Janesville, Wisconsin, and Samuel E. Hill of Beloit, Wisconsin, met in a hotel room they shared at the Central House Hotel in Boscobel, Wisconsin, and discussed the formation of an association. Revenue management is a way of controlling distribution methods and pricing tactics in order to sell the right room to the right guest at the right time. According to data from Statista, the average profit margin for hotels in the United States was around 11.5% in 2019. RevPAR, ADR, and Other Main Hotel Metrics and KPIs | AltexSoft Turnover and profit If your hotel runs for atleast 8000Rs to 10,000 Rs per day then you will get the profit like 800 Rs to 1000Rs ie 10% profit. If you add up the LOS of all the other guests during a month, you will get a total LOS for that month. 19. Most profitable F&B operations After examining all full-service hotels, we wanted to examine the top F&B operations. Operating Profit contribution per treatment room. For full-service hotels, the average count is smaller, below two per 1,000 . "Monthly Average Revenue per Available Room of United States Hotels from 2011 to 2020 (in U.S. 24. As room counts are only part of the equation for parking needs, a closer look at the parking count per 1,000 square feet of space is warranted. Learn how to manage and improve hotel staff productivity. Hotel managers can use the following formulas for calculating RevPAR: RevPAR = multiply average daily rate (ADR) by occupancy rate. To maximize profits, the hotel might aim for a slightly higher ALOS of, say, 11 nights. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). That is difficult in many investments, but a hotel is a public space built for just that sharing. According to the career advice website Shmoop, the average salary for a hotel owner in the US is between $40,000-$60,000. statistic alerts) please log in with your personal account. An easy way to calculate average labor costs per occupied guestroom is to divide labor plus benefits expenses by the number of guest rooms accessed. What are four main ways to invest in hotels? Hotels depend on human traffic. Some hotels make six figures per year. How to Determine a Profit Margin for a Small Hotel - Chron Human resources: staff salaries and other payroll-related expenses. UpStay is the Number#1 upselling solution. How do you calculate profit percentage in a room? Rooms feature different prices, and some. Then, try the method for yourself to see where your hotel profit margin falls, and ways to gain in profits and reduce those pesky losses. In 2018, rooms revenue in the luxury hotel sample averaged 59.3 percent of total revenue. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. One guarantees money, the other doesnt. "Monthly average revenue per available room of United States hotels from 2011 to 2020 (in U.S. What is the most profitable part of a hotel? Have it in mind that any money that a hotel makes has to first go towards paying off the expenses of running the hotel. Other expenses a hotel has to pay for may likely include food: If a hotel offers parking for guests, there is the major expense of maintaining a paved and possibly covered parking area. This area of expenses covers two directions: If you are staffing a hotel with in-house labor, you are required to provide: All of these are expenses that must be managed and possibly taxed by the local, state, and federal governments. This would involve pricing their rooms competitively, providing quality services and amenities, and . j=d.createElement(s),dl=l!='dataLayer'? an executive board room, a gift shop, a 1,400 sq. Checking the occupancy rate can help you gauge a particular hotel's popularity and reputation. TRevPAR = Total Net Revenue / Number of Available RoomsExample: If your hotel has 150 rooms and youve generated total revenue of $25,000 in a day, your TRevPAR would be $166. window.dataLayer = window.dataLayer || []; If thats uncommon for the hotel, you can adjust rates to attract longer stays or use the minimum length stay requirement. Without advertising income, we can't keep making this site awesome for you. As similar, as they sound, they are not the same. You need at least a Starter Account to use this feature. You can do it by creating special packages catered to a segment of guests, more personalizing, or special offers. For example, if you sold 5 rooms out of your 10-room hotel and your total revenue was $2,000, then ADR would be $400. Note that the amenities and service tend to be more intimate at private homes or property, which can be appealing for people who are sick of the corporate structure or lack of empathy on the part of hotel employees. Another popular metric in the hotel industry is the average length of stay or ALOS. Through the operating budget, management of a hotel is able to compare planned and actual values in business in a financial year and this continuously examines the results of its operations. Occupancy Forecast = (Number of Rooms Forecasted to Be Booked / Total Available Rooms) * 100Example: If you expect to have 45 out of 70 rooms booked during a specific period, it would mean you expect a 64.2% occupancy. Chart. F&B revenues, profits on the rise - Revenue Hub Here are the most important KPI formulas used in hotel industry for effective revenue management. And this is one of the primary reasons why hotel businesses fail. Upsell and its Perks: 4 Ways to Improve Hotel Guest Experience Before Arrival, Cross-Selling vs. Upselling What is More Optimal in the Hotel Industry, Hotel Front Desk Upselling: What It Is, How To Do It, & More, Hotel Inventory Management 101: How To Do It, Actionable Tips, & More. Unfold - The most innovative hospitality forum is back! With additional revenue on-hand, you are able to provide guests with the service they expect, as well as move the hotel forward into the future. The labor cost for the cleaning up of the guestroom falls to the employees that work there. (SiteMinder) How do you know if a hotel is profitable? (Video) Hotel Revenue Management Simplified! When you want to improve the average daily rate, you need to increase revenues from each guest. It is a small shot, but a shot nonetheless. In this example, the hotel has 60 rooms: TrevPAR or total revenue per available room shows revenues generated from rooms and other departments (income from a spa, food, beverage, etc.). To calculate ADR for hotels, you need to divide average room revenue earned by the number of rooms sold. 2023 Greenbayhotelstoday. The other way to calculate it is by dividing the total number of rooms available in your hotel with the total revenue from the night. Room Nights = Total Sold Room Nights / Total Property AccommodationExample: In April (30 days), you had a total of 50 rooms available. What Is a Good Net Profit Margin for a Hotel & Spa? new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], As a Premium user you get access to background information and details about the release of this statistic. For a daily occupancy rate, divide the number of booked rooms by the total number of rooms. Don't forget, the owner is paying a 4% to 6% franchise fee. ie 40% profit. Example: If a hotel has 30 rooms, a RevPAR of $50,000, and the average RRM for similar properties in the area is 3.8, its value would be $5.7 million. Accessed March 05, 2023. https://www.statista.com/statistics/206515/us-hotel-revenue-per-available-room-by-month/, hotelnewsnow.com. This valuation method sets the value per room at 3.8 times the annual room revenue. While the industry is pretty tight-lipped about it, it's estimated that the average profit turned by a hotel chain owner is between $40,000 and $60,000 per year (source). If you are an admin, please authenticate by logging in again. Simply multiply your average daily rate (ADR) by your occupancy rate. The average US hotel operates with a 30% profit margin, according to PKF Consulting in 2011, which is quite low compared to nearly every other industry. For example, if the hotel has 100 room nights over the month, represented by 55 bookings, the ALOS is 1,8. It has an average daily occupancy of 80%; therefore, its RevPAR is $80 a day. How do you calculate average room revenue? RevPASH = Total Outlet Revenue / (Number of Seats * Opening Hours)Example: If your restaurant, for instance, which has 50 seats and is open for 8 hours, has generated a revenue of $18,000, your RevPASH would be $45. Restaurant profit margin = (Revenue Cost of goods sold)/Revenue = ($10,000,000-$9,500,000)/$10,000,000=$500,000/$10,000,000=0.05=5% According to the restaurant profit margin calculator, your business had a net profit margin of 5% last year. How do you know if a hotel is profitable? If your restructuring or rent costs are $20,000, your EBITDAR would be $75,000. Source: Statista Since those expenses are calculated as other, these are often the first to be cut if a budget hotel is struggling to achieve a positive profit margin. To use individual functions (e.g., mark statistics as favourites, set 23. How do I change the default file manager in Windows 10? Thats a total of 1,500 sellable room nights. Because hotel room prices fluctuate so much, its important to try to optimize RevPAR so that you get the most available revenue per room at any given time. Whats more, KPIs give you insights into the performance of your property, help you decide how to move forward and wheres room for improvement. The average cost of starting a hotel in the US ranges from $750,000-$1,000,000 for a small motel, to the national average being around $22,000,000 for a hotel with around 115 rooms, and much higher for luxury and high-rise hotels (source.). With a revenue management tool, you can choose the rates according to demand, optimizing your inventory in order to maximize profits. 138.68.104.165 // . The challenge lies in maintaining a high level of customer service while at the same time reducing overhead and operating expenses. Gross operating profit per available room (GOPPAR): This indicates the actual profit you earned; after deducting . The average state lodging tax revenue grew 2.92% from 2017 to 2018; this tax is imposed as a flat dollar rate per night. With the right strategies in place, you can forecast for periods of high demand, and cut back where necessary in periods where demand is lower. Graduated from Standford University, Arielle has over 5 years of experience in the Hospitality industry. Hotel Industry Statistics: 23 Facts and Trends to Know - CreditDonkey Available: https://www.statista.com/statistics/206515/us-hotel-revenue-per-available-room-by-month/, Monthly average revenue per available room of United States hotels from 2011 to 2020, Available to download in PNG, PDF, XLS format, Overnight stays in selected CEE cities 2015-2020, Hotel room supply forecast in selected CEE cities 2019-2023, Growth in hotel room supply in selected CEE cities 2015-2023, Change in annual hotel occupancy in the CEE region 2020, by major cities, Change in annual ADR in hotels in the CEE region 2020, by major cities, Annual hotel transactions in the CEE region 2005-2020, Hotel investment: transaction volume in CEE countries 2016-2020, Number of hotels in Poland 2020-2021, by star rating, Number of hotel rooms in Poland 2000-2021, Number of hotel rooms in Poland 2019-2021, by star rating, Number of hotel bed places in Poland 1980-2021, Number of hotel bed places in Poland 2019-2021, by star rating, Overnight stays in hotel accommodation in Poland 2007-2020, Hotel bedroom occupancy rates in Poland 2012-2019, Leading international hotel brands in Poland 2021, by number of hotels, Leading international hotel brands in Poland 2021, by number of rooms, Leading hotel chain brands in Poland 2021, by number of hotels, Leading hotel chain brands in Poland 2021, by number of rooms, Polish hotel chain brands ranked by number of hotels in Poland 2021, Polish hotel chain brands ranked by number of rooms in Poland 2021, International hotel chain groups in Poland 2021, by number of rooms, Number of hotels in TriCity 2019-2021, by star rating, Number of hotel rooms in TriCity 2019-2021, Number of hotel bed places in TriCity 2019-2021, Occupancy rate of rooms in TriCity 2019-2021, Occupancy rate of bed places in TriCity 2019-2021, Number of hotels in Krakow 2019-2021, by star rating, Number of hotel rooms in Krakow 2019-2021, Number of hotel bed places in Krakow 2019-2021, Occupancy rate of rooms in Krakow 2019-2021, Occupancy rate of bed places in Krakow 2019-2021, Number of hotels in Poznan 2019-2021, by star rating, Number of hotel rooms in Poznan 2019-2021, Number of hotel bed places in Poznan 2019-2021, Occupancy rate of rooms in Poznan 2019-2021, Occupancy rate of bed places in Poznan 2019-2021, Number of hotels in Szczecin 2019-2021, by star rating, Number of hotel rooms in Szczecin 2019-2021, Number of hotel bed places in Szczecin 2019-2021, Occupancy rate of rooms in Szczecin 2019-2021, Occupancy rate of bed places in Szczecin 2019-2021, Number of hotels in Warsaw 2019-2021, by star rating, Number of hotel rooms in Warsaw 2019-2021, Number of hotel bed places in Warsaw 2019-2021, Occupancy rate of rooms in Warsaw 2019-2021, Occupancy rate of bed places in Warsaw 2019-2021, Number of hotels in Wroclaw 2019-2021, by star rating, Number of hotel rooms in Wroclaw 2019-2021, Number of hotel bed places in Wroclaw 2019-2021, Occupancy rate of rooms in Wroclaw 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GCC 2021, by country, Revenue per available room in the UAE 2019-2021, Revenue per available room in Saudi Arabia 2019-2021, RevPAR of 5-star hotels in China Q2 2018 compared to three-year average, by city tier, Catalonia: monthly revenue per available room (RevPAR) in 2016, Revenue per room of 5-star hotels in China Q2 2018, by city tier, Hospitality sector of GCC countries projected RevPAR 2017-2022, Annual change of RevPAR of 5-star hotels in China Q2 2018, by city tier, Highest-rated green hotels in the U.S. as of April 2014, RevPar of rooms in Indian economy hotels FY 2016-2023, RevPar of rooms in Indian upscale hotels FY 2016-2023, Hotel market in Central and Eastern Europe, Monthly average revenue per available room of United States hotels from 2011 to 2020 (in U.S. dollars), Find your information in our database containing over 20,000 reports, The average daily rate (ADR) was roughly 97.61 U.S. dollars as of October 2020, leading companies worldwide in terms of sales revenue, Marriott International led the list, accounting for over 1.4 million guestrooms worldwide in 2020.

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