If you serve beer, they will come
For those awaiting the Owl’s re-opening, the wait is almost over. The Owl will be reopening mid-August although “The exact date will be set shortly,” according to Vice-President of Operations and Finance Matthew Mutschler.
This summer to cut operating costs the Owl hosted several patio parties instead of operating full time. According to Mutschler, “The patio parties hosted in The Owl were very successful. We had a full patio with a mix of students, faculty, and staff. Although we do plan to stay open next summer, these events will continue because of the high attendance.”
University of Regina student Catherine Couture praised the parties saying, “the university is pretty dead most of the summer but a patio party once in awhile is great to take a break from working.”
The past few years The Owl has been struggling financially. Mutschler notes that, “since last year, Owl management has been working hard in the areas of menu development, inventory control, portion control, cost control, as well as event planning. With these projects nearing completion, The Owl will be in a much better position in the coming year.”
“[Last year] revenue from the Owl fell approximately $200,000, but was matched by a similar drop in the expenses of operating the Owl.” At that time, a financial report revealed a $100,000 loss from the Owl’s operations which was an improvement of the prior year’s $200,000 loss.
Last year an audit revealed many practices that had been harmful to profits within The Owl and URSU on a larger scale. MNP presented several recommendations. As Mutschler says, “all of the recommendations received from MNP regarding The Owl have been implemented. This includes updated our POS systems, inventory counts, and increasing the security of cash.”