Club Membership COS/COGS

[Mitch]

Question, is future voucher redemption considered as COS/COGS when selling a membership? There is this company who ties up with hotels and sells membership. To get their gross sales they are deducting from their revenue on membership sold the tier with room voucher which they will eventually pay the hotel once the voucher is redeemed. Is this considered valid? The hotel gets 25% share from their net sales which is gross sales less of taxes, credit card commissions and mobile app cost. In return the hotel gives a lot of or different types of discounts and complementaries on the member.