Net Operating Income or NOI is the profitability or loss after factoring in your revenue minus expenses. Revenue may not solely be food or beverage sales but can include catering, room rentals, merchandise, and more.
In the same sense, expenses are more than just Cost of Goods and paying your people. Supplies, rent, utilities, advertising, and more will be deducted from your revenue to arrive at your NOI.
GROSS OPERATING INCOME – GROSS OPERATING EXPENSES = NOI