business model - finance project (hotel)

8/9/2019 Business Model - Finance Project (Hotel)

1/38

Year 1

Number of Rooms 20

Revenue (Winter) $367,500.00 = 20 rooms * 70%

Revenue (Summer) $225,000.00 = 20 rooms * 60%

ot!" Revenue #er e!r $592,500.00

St! &ost #er e!r $75,000.00 = 3 #eo#"e * '0&"e!ners ost (inter) $2',000.00 = 20 rooms * 70%

&"e!ners ost (summer) $',000.00 = 20 rooms * 60%

+!n!er ost #er e!r $60,000.00 = 60,000 -o""!rs 3,000

ot!" ost #er e!r $174,000.00

S!"es $5/2,500.00

&1S $'7,000.00

1ross ro4t $',500.00

#er!tin #ense ro#ert !es $'',50.00

1ener!" +!int!ne $'5,000.00 = '0000 $ in +! 5,000

ot!" #er!tin #ense $26,50.00

#er!tin ro4t $391,650.00

Year 2

rie nre!se 2.50%

Number of Rooms 20


Revenue (Summer) $230,625.00 = 20 rooms * 60%


St! &ost #er e!r $76,75.00 = 3 #eo#"e * '0

&"e!ners ost (inter) $2',525.00 = 20 rooms * 70%

&"e!ners ost (summer) $',50.00 = 20 rooms * 60%

+!n!er ost #er e!r $60,000.00 = 60,000 -o""!rs 3,000

ot!" ost #er e!r $176,850.00

S!"es $607,3'2.50

&1S $'76,50.00

1ross ro4t $30,62.50

#er!tin #ense

ro#ert !es $'2,'6.25

1ener!" +!int!ne $'5,000.00 = '0000 $ in +! 5,000

ot!" #er!tin #ense $27,'6.25

#er!tin ro4t $403,316.25

Year 3

rie nre!se 2.50%Number of Rooms 20

Revenue (Winter) $36,'0.6/ = 20 rooms * 70%


2/38

Revenue (Summer) $236,3/0.63 = 20 rooms * 60%


St! &ost #er e!r $7,7/6. = 3 #eo#"e * '0

&"e!ners ost (inter) $22,063.'3 = 20 rooms * 70%

&"e!ners ost (summer) $',/''.25 = 20 rooms * 60%

+!n!er ost #er e!r $63,000.00 = 60,000 -o""!rs 3,000

ot!" ost #er e!r $182,771.25

S!"es $622,/5.3'

&1S $'2,77'.25

1ross ro4t $3/,72.06

#er!tin #ense

ro#ert !es $'2,/./'

1ener!" +!int!ne $'5,000.00 = '0000 $ in +! 5,000

ot!" #er!tin #ense $27,/./'

#er!tin ro4t $412,274.16

Year 4

rie nre!se 2.50%

Number of Rooms 20

Revenue (Winter) $3/5,757.30 = 20 rooms * 70%

Revenue (Summer) $22,300.3/ = 20 rooms * 60%


St! &ost #er e!r $0,766.0 = 3 #eo#"e * '0

&"e!ners ost (inter) $22,6'.70 = 20 rooms * 70%

&"e!ners ost (summer) $'/,3.03 = 20 rooms * 60%

+!n!er ost #er e!r $63,000.00 = 60,000 -o""!rs 3,000

ot!" ost #er e!r $185,765.53

S!"es $63,057.70

&1S $'5,765.53

1ross ro4t $52,2/2.'6

#er!tin #ense

ro#ert !es $'2,76'.'5

1ener!" +!int!ne $'5,000.00 = '0000 $ in +! 5,000ot!" #er!tin #ense $27,76'.'5

#er!tin ro4t $424,531.01

Year 5

rie nre!se 2.50%

Number of Rooms 20

Revenue (Winter) $05,65'.2 = 20 rooms * 70%

Revenue (Summer) $2,357./0 = 20 rooms * 60%

ot!" Revenue #er e!r $654,009.14St! &ost #er e!r $2,75./7 = 3 #eo#"e * '0

&"e!ners ost (inter) $23,'0.07 = 20 rooms * 70%


3/38


+!n!er ost #er e!r $66,000.00 = 60,000-o""!rs 3,000

ot!" ost #er e!r $191,834.67

S!"es $65,00/.'

&1S $'/',3.67

1ross ro4t $62,'7.7

#er!tin #ense

ro#ert !es $'3,00.'

1ener!" +!int!ne $'5,000.00 = '0000 $ in +! 5,000

ot!" #er!tin #ense $2,00.'

#er!tin ro4t $434,094.29

Total Operating Proft $2,065,865.70


4/38

ou#!n * 5 mont8s * 30 -!s * '75 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '25 $ #er ni8t

mont8s * 2,500 $ #er mont8ou#!n * 5 mont8s * 30 -!s * '0 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '0 $ #er ni8t

-o""!rs * 0 mu"ti#"ier

$ in November

ou#!n * 5 mont8s * 30 -!s * '7/.375 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '2.'25 $ #er ni8t

mont8s * 2,563 $ #er mont8

ou#!n * 5 mont8s * 30 -!s * '0.25 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '0.25 $ #er ni8t


$ in November

ou#!n * 5 mont8s * 30 -!s * '3.5/375 $ #er ni8t


5/38

ou#!n * 5 mont8s * 30 -!s * '3'.32'25 $ #er ni8t


ou#!n * 5 mont8s * 30 -!s * '0.50625 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '0.50625 $ #er ni8t

-o""!rs * ' mu"ti#"ier

$ in November

ou#!n * 5 mont8s * 30 -!s * '.555/3 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '3.6''32'3 $ #er ni8t

mont8s * 2,6/2 $ #er mont8

ou#!n * 5 mont8s * 30 -!s * '0.76/0625 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '0.76/0625 $ #er ni8t


$ in November

ou#!n * 5 mont8s * 30 -!s * '/3.'672556 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '37./766''33 $ #er ni8t


ou#!n * 5 mont8s * 30 -!s * ''.03'2/06 $ #er ni8t


6/38

ou#!n * 5 mont8s * 30 -!s * ''.03'2/06 $ #er ni8t


$ in November


7/38

nre!se in u"ti"i9!tion 5%

Year 1

Number of Rooms 20

Revenue (Winter) $3/3,750.00 = 20 rooms * 75%

Revenue (Summer) $23,750.00 = 20 rooms * 65%ot!" Revenue #er e!r $637,500.00

St! &ost #er e!r $75,000.00 = 3 #eo#"e * '0

&"e!ners ost (inter) $22,500.00 = 20 rooms * 75%


+!n!er ost #er e!r $60,000.00 = 60,000 -o""!rs 3,000

ot!" ost #er e!r $177,000.00

S!"es $637,500.00

&1S $'77,000.00

1ross ro4t $60,500.00

#er!tin #ense

ro#ert !es $'2,750.00

1ener!" +!int!ne $'5,000.00 = '0000 $ in +! 5,000

ot!" #er!tin #ense $27,750.00

#er!tin ro4t $432,750.00

Year 2

rie nre!se 2.50%

Number of Rooms 20

Revenue (Winter) $03,5/3.75 = 20 rooms * 75%

Revenue (Summer) $2/,3.75 = 20 rooms * 65%


St! &ost #er e!r $76,75.00 = 3 #eo#"e * '0


&"e!ners ost (summer) $'/,/7.50 = 20 rooms * 65%

+!n!er ost #er e!r $60,000.00 = 60,000 -o""!rs 3,000

ot!" ost #er e!r $179,925.00

S!"es $653,37.50 &1S $'7/,/25.00

1ross ro4t $73,5'2.50

#er!tin #ense

ro#ert !es $'3,06.75

1ener!" +!int!ne $'5,000.00 = '0000 $ in +! 5,000

ot!" #er!tin #ense $2,06.75

#er!tin ro4t $445,443.75

Year 3

rie nre!se 2.50%


8/38

Number of Rooms 20

Revenue (Winter) $'3,63.5/ = 20 rooms * 75%

Revenue (Summer) $256,0/. = 20 rooms * 65%


St! &ost #er e!r $7,7/6. = 3 #eo#"e * '0

&"e!ners ost (inter) $23,63/.06 = 20 rooms * 75%

&"e!ners ost (summer) $20,7.'/ = 20 rooms * 65%+!n!er ost #er e!r $63,000.00 = 60,000 -o""!rs 3,000

ot!" ost #er e!r $185,923.13

S!"es $66/,773.

&1S $'5,/23.'3

1ross ro4t $3,50.3'

#er!tin #ense

ro#ert !es $'3,3/5.7

1ener!" +!int!ne $'5,000.00 = '0000 $ in +! 5,000ot!" #er!tin #ense $2,3/5.7

#er!tin ro4t $455,454.84

Year 4

rie nre!se 2.50%

Number of Rooms 20


Revenue (Summer) $262,/2.0/ = 20 rooms * 65%


St! &ost #er e!r $0,766.0 = 3 #eo#"e * '0


&"e!ners ost (summer) $20,///.37 = 20 rooms * 65%

+!n!er ost #er e!r $63,000.00 = 60,000 -o""!rs 3,000

ot!" ost #er e!r $188,996.20

S!"es $66,5'7.77

&1S $',//6.20

1ross ro4t $/7,52'.57

#er!tin #ense ro#ert !es $'3,730.36

1ener!" +!int!ne $'5,000.00 = '0000 $ in +! 5,000

ot!" #er!tin #ense $2,730.36

#er!tin ro4t $468,791.21

Year 5

rie nre!se 2.50%

Number of Rooms 20

Revenue (Winter) $3,626.33 = 20 rooms * 75%Revenue (Summer) $26/,05.3/ = 20 rooms * 65%



9/38

St! &ost #er e!r $2,75./7 = 3 #eo#"e * '0

&"e!ners ost (inter) $2,35.7/ = 20 rooms * 75%

&"e!ners ost (summer) $2',52.35 = 20 rooms * 65%

+!n!er ost #er e!r $66,000.00 = 60,000 -o""!rs 3,000

ot!" ost #er e!r $195,146.11

S!"es $703,60.72 &1S $'/5,'6.''

1ross ro4t $50,53.6'

#er!tin #ense

ro#ert !es $',073.6'

1ener!" +!int!ne $'5,000.00 = '0000 $ in +! 5,000

ot!" #er!tin #ense $2/,073.6'

#er!tin ro4t $479,461.00


Incremental Proft $216,035.10


10/38

ou#!n * 5 mont8s * 30 -!s * '75 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '25 $ #er ni8t


ou#!n * 5 mont8s * 30 -!s * '0 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '0 $ #er ni8t


$ in November

ou#!n * 5 mont8s * 30 -!s * '7/.375 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '2.'25 $ #er ni8t


ou#!n * 5 mont8s * 30 -!s * '0.25 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '0.25 $ #er ni8t


$ in November


11/38

ou#!n * 5 mont8s * 30 -!s * '3.5/375 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '3'.32'25 $ #er ni8t


ou#!n * 5 mont8s * 30 -!s * '0.50625 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '0.50625 $ #er ni8t-o""!rs * ' mu"ti#"ier

$ in November

ou#!n * 5 mont8s * 30 -!s * '.555/3 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '3.6''32'3 $ #er ni8t

mont8s * 2,6/2 $ #er mont8

ou#!n * 5 mont8s * 30 -!s * '0.76/0625 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * '0.76/0625 $ #er ni8t


$ in November

ou#!n * 5 mont8s * 30 -!s * '/3.'672556 $ #er ni8tou#!n * 5 mont8s * 30 -!s * '37./766''33 $ #er ni8t


12/38


ou#!n * 5 mont8s * 30 -!s * ''.03'2/06 $ #er ni8t

ou#!n * 5 mont8s * 30 -!s * ''.03'2/06 $ #er ni8t


$ in November


13/38

Year 1

Number of Rooms 20

Revenue (Winter) $367,500.00 = 20 rooms *

Revenue (Summer) $225,000.00 = 20 rooms *


St! &ost #er e!r $75,000.00 = 3 #eo#"e *&"e!ners ost (inter) $2',000.00 = 20 rooms *

&"e!ners ost (summer) $',000.00 = 20 rooms *

+!n!er ost #er e!r $60,000.00 = 60,000 -o""!rs

ot!" ost #er e!r $174,000.00

S!"es $5/2,500.00

&1S $'7,000.00

1ross ro4t $',500.00

#er!tin #ense ro#ert !es $'',50.00

1ener!" +!int!ne $'5,000.00 = '0000 $ in +!

ot!" #er!tin #ense $26,50.00

#er!tin ro4t $391,650.00

!es (35%) $'37,077.50

Net nome $254,572.50

Year 2

rie nre!se 2.50%

Number of Rooms 20

Revenue (Winter) $376,67.50 = 20 rooms *

Revenue (Summer) $230,625.00 = 20 rooms *


St! &ost #er e!r $76,75.00 = 3 #eo#"e *

&"e!ners ost (inter) $2',525.00 = 20 rooms *

&"e!ners ost (summer) $',50.00 = 20 rooms *

+!n!er ost #er e!r $60,000.00 = 60,000 -o""!rs

ot!" ost #er e!r $176,850.00

S!"es $607,3'2.50 &1S $'76,50.00

1ross ro4t $30,62.50

#er!tin #ense

ro#ert !es $'2,'6.25

1ener!" +!int!ne $'5,000.00 = '0000 $ in +!

ot!" #er!tin #ense $27,'6.25

#er!tin ro4t $03,3'6.25

!es (35%) $'','60.6/Net nome $262,155.56


14/38

Year 3

rie nre!se 2.50%

Number of Rooms 20

Revenue (Winter) $36,'0.6/ = 20 rooms *

Revenue (Summer) $236,3/0.63 = 20 rooms *


St! &ost #er e!r $7,7/6. = 3 #eo#"e *&"e!ners ost (inter) $22,063.'3 = 20 rooms *

&"e!ners ost (summer) $',/''.25 = 20 rooms *

+!n!er ost #er e!r $63,000.00 = 60,000 -o""!rs

ot!" ost #er e!r $182,771.25

S!"es $622,/5.3'

&1S $'2,77'.25

1ross ro4t $3/,72.06

#er!tin #ense ro#ert !es $'2,/./'

1ener!" +!int!ne $'5,000.00 = '0000 $ in +!

ot!" #er!tin #ense $27,/./'

#er!tin ro4t $'2,27.'6

!es (35%) $',2/5./5

Net nome $267,978.20

Year 4

rie nre!se 2.50%

Number of Rooms 20

Revenue (Winter) $3/5,757.30 = 20 rooms *

Revenue (Summer) $22,300.3/ = 20 rooms *


St! &ost #er e!r $0,766.0 = 3 #eo#"e *

&"e!ners ost (inter) $22,6'.70 = 20 rooms *

&"e!ners ost (summer) $'/,3.03 = 20 rooms *

+!n!er ost #er e!r $63,000.00 = 60,000 -o""!rs

ot!" ost #er e!r $185,765.53

S!"es $63,057.70 &1S $'5,765.53

1ross ro4t $52,2/2.'6

#er!tin #ense

ro#ert !es $'2,76'.'5

1ener!" +!int!ne $'5,000.00 = '0000 $ in +!

ot!" #er!tin #ense $27,76'.'5

#er!tin ro4t $2,53'.0'

!es (35%) $',55.5Net nome $275,945.16


15/38

Year 5

rie nre!se 2.50%

Number of Rooms 20

Revenue (Winter) $05,65'.2 = 20 rooms *

Revenue (Summer) $2,357./0 = 20 rooms *


St! &ost #er e!r $2,75./7 = 3 #eo#"e *&"e!ners ost (inter) $23,'0.07 = 20 rooms *

&"e!ners ost (summer) $'/,6.63 = 20 rooms *

+!n!er ost #er e!r $66,000.00 = 60,000 -o""!rs

ot!" ost #er e!r $191,834.67

S!"es $65,00/.'

&1S $'/',3.67

1ross ro4t $62,'7.7

#er!tin #ense ro#ert !es $'3,00.'

1ener!" +!int!ne $'5,000.00 = '0000 $ in +!

ot!" #er!tin #ense $2,00.'

#er!tin ro4t $3,0/.2/

!es (35%) $'5',/33.00

Net nome $282,161.29


:ver!e o#er!tin #ro4t $'3,'73.' * '/.5 times =


16/38

70% ou#!n * 5 mont8s * 30 -!s * '75

60% ou#!n * 5 mont8s * 30 -!s * '25

'0 mont8s * 2,500 $ #er mont870% ou#!n * 5 mont8s * 30 -!s * '0

60% ou#!n * 5 mont8s * 30 -!s * '0

3,000 -o""!rs * 0 mu"ti#"ier

5,000$ in November

70% ou#!n * 5 mont8s * 30 -!s * '7/.375

60% ou#!n * 5 mont8s * 30 -!s * '2.'25

'0 mont8s * 2,563 $ #er mont8

70% ou#!n * 5 mont8s * 30 -!s * '0.25

60% ou#!n * 5 mont8s * 30 -!s * '0.25

3,000 -o""!rs * 0 mu"ti#"ier

5,000$ in November


17/38

70% ou#!n * 5 mont8s * 30 -!s * '3.5/375

60% ou#!n * 5 mont8s * 30 -!s * '3'.32'25

'0 mont8s * 2,627 $ #er mont870% ou#!n * 5 mont8s * 30 -!s * '0.50625

60% ou#!n * 5 mont8s * 30 -!s * '0.50625

3,000 -o""!rs * ' mu"ti#"ier

5,000$ in November

70% ou#!n * 5 mont8s * 30 -!s * '.555/3

60% ou#!n * 5 mont8s * 30 -!s * '3.6''32'3

'0 mont8s * 2,6/2 $ #er mont8

70% ou#!n * 5 mont8s * 30 -!s * '0.76/0625

60% ou#!n * 5 mont8s * 30 -!s * '0.76/0625

3,000 -o""!rs * ' mu"ti#"ier

5,000$ in November


18/38

70% ou#!n * 5 mont8s * 30 -!s * '/3.'672556

60% ou#!n * 5 mont8s * 30 -!s * '37./766''33

'0 mont8s * 2,760 $ #er mont870% ou#!n * 5 mont8s * 30 -!s * ''.03'2/06

60% ou#!n * 5 mont8s * 30 -!s * ''.03'2/06

3,000 -o""!rs * 2 mu"ti#"ier

5,000$ in November

$,056,76.2


19/38

$ #er ni8t

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$ #er ni8t

$ #er ni8t

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20/38

$ #er ni8t

$ #er ni8t

$ #er ni8t

$ #er ni8t

$ #er ni8t

$ #er ni8t

$ #er ni8t

$ #er ni8t


21/38

$ #er ni8t

$ #er ni8t

$ #er ni8t

$ #er ni8t


22/38

CAP Cal!"lation

bet! '.' Soure; 8tt#;


23/38

m


24/38

rot8


25/38

:ssume t8!t 1+ is sti"" 8ire- in Ee!r 2. :"so, ener!" renov!tion !n- m!inten!ne

Year 1

Number of Rooms 20

Revenue (Winter) $367,500.00 = 20 rooms

Revenue (Summer) $225,000.00 = 20 rooms


St! &ost #er e!r $75,000.00= 3 #eo#"e&"e!ners ost (inter) $2',000.00= 20 rooms

&"e!ners ost (summer) $',000.00= 20 rooms

+!n!er ost #er e!r $60,000.00= 60,000 -o""!rs

ot!" ost #er e!r $174,000.00

S!"es $5/2,500.00

&1S $'7,000.00

1ross ro4t $',500.00

#er!tin #ense

ro#ert !es $'',50.00 1ener!" +!int!ne $'5,000.00= '0000 $ in +!

ot!" #er!tin #ense $26,50.00

#er!tin ro4t $391,650.00

!es (35%) $'37,077.50

Net nome $254,572.50

Year 2

rie nre!se 2.50%

Number of Rooms 20


Revenue (Summer) $0.00 = 20 rooms


St! &ost #er e!r $3,37.50= 3 #eo#"e

&"e!ners ost (inter) $2',525.00= 20 rooms

&"e!ners ost (summer) $0.00 = 20 rooms

+!n!er ost #er e!r $60,000.00= 60,000 -o""!rs

ot!" ost #er e!r $119,962.50

S!"es $376,67.50

&1S $''/,/62.501ross ro4t $256,725.00

#er!tin #ense

ro#ert !es $7,533.75

1ener!" +!int!ne $'5,000.00= '0000 $ in +!

ot!" #er!tin #ense $22,533.75

#er!tin ro4t $23,'/'.25


26/38

!es (35%) $',/66./

Net nome $152,224.31

Year 3

rie nre!se 2.50%

Number of Rooms 30

Revenue (Winter) $/6,20.3' = 30 roomsRevenue (Summer) $2/5,.2 = 30 rooms


St! &ost #er e!r $7,7/6.= 3 #eo#"e

&"e!ners ost (inter) $2,366.= 30 rooms

&"e!ners ost (summer) $23,63/.06= 30 rooms

+!n!er ost #er e!r $63,000.00= 60,000 -o""!rs

ot!" ost #er e!r $193,802.81

S!"es $7/',/0.5/

&1S $'/3,02.'

1ross ro4t $5/,'05.7

#er!tin #ense

ro#ert !es $'5,3.'7

1ener!" +!int!ne $'5,000.00= '0000 $ in +!

ot!" #er!tin #ense $30,3.'7

#er!tin ro4t $567,267.6'

!es (35%) $'/,53.66

Net nome $368,723.95

Year 4

rie nre!se 2.50%

Number of Rooms 30

Revenue (Winter) $55',233.3/ = 30 rooms

Revenue (Summer) $333,'63.0 = 30 rooms


St! &ost #er e!r $0,766.0= 3 #eo#"e

&"e!ners ost (inter) $3',//.05= 30 rooms

&"e!ners ost (summer) $26,653.0= 30 rooms

+!n!er ost #er e!r $63,000.00= 60,000 -o""!rs

ot!" ost #er e!r $201,918.89

S!"es $,3/6.3

&1S $20',/'./

1ross ro4t $62,77.5

#er!tin #ense

ro#ert !es $'7,67./3

1ener!" +!int!ne $'5,000.00= '0000 $ in +!


27/38

ot!" #er!tin #ense $32,67./3

#er!tin ro4t $6/,7/.6'

!es (35%) $227,26.36

Net nome $422,363.24

Year 5rie nre!se 2.50%

Number of Rooms 30


Revenue (Summer) $372,536.5 = 30 rooms


St! &ost #er e!r $2,75./7= 3 #eo#"e

&"e!ners ost (inter) $3,770.''= 30 rooms

&"e!ners ost (summer) $2/,02./5= 30 rooms

+!n!er ost #er e!r $66,000.00= 60,000 -o""!rs

ot!" ost #er e!r $213,359.02

S!"es $/',0'3.7'

&1S $2'3,35/.02

1ross ro4t $767,65.6/

#er!tin #ense

ro#ert !es $'/,620.27

1ener!" +!int!ne $'5,000.00= '0000 $ in +!

ot!" #er!tin #ense $3,620.27

#er!tin ro4t $733,03.'

!es (35%) $256,562.0

Net nome $476,472.37


:ver!e o#er!tin #ro4t $5'5,'6.5 * '/.5 times


28/38

ost must sti"" be #!i-

* 70% ou#!n * 5 mont8s * 30 -!s *

* 60% ou#!n * 5 mont8s * 30 -!s *

* '0 mont8s * 2,500 $ #er mont8* 70% ou#!n * 5 mont8s * 30 -!s *

* 60% ou#!n * 5 mont8s * 30 -!s *

3,000 -o""!rs * 0 mu"ti#"ier

5,000 $ in November

* 70% ou#!n * 5 mont8s * 30 -!s *

* 0% ou#!n * 5 mont8s * 30 -!s *

* 5 mont8s * 2,563 $ #er mont8

* 70% ou#!n * 5 mont8s * 30 -!s *

* 0% ou#!n * 5 mont8s * 30 -!s *

3,000 -o""!rs * 0 mu"ti#"ier

5,000 $ in November


29/38

* 60% ou#!n * 5 mont8s * 30 -!s ** 50% ou#!n * 5 mont8s * 30 -!s *

* '0 mont8s * 2,627 $ #er mont8

* 60% ou#!n * 5 mont8s * 30 -!s *

* 50% ou#!n * 5 mont8s * 30 -!s *

3,000 -o""!rs * ' mu"ti#"ier

5,000 $ in November

* 65% ou#!n * 5 mont8s * 30 -!s *

* 55% ou#!n * 5 mont8s * 30 -!s *

* '0 mont8s * 2,6/2 $ #er mont8

* 65% ou#!n * 5 mont8s * 30 -!s *

* 55% ou#!n * 5 mont8s * 30 -!s *

3,000 -o""!rs * ' mu"ti#"ier

5,000 $ in November


30/38

* 70% ou#!n * 5 mont8s * 30 -!s *

* 60% ou#!n * 5 mont8s * 30 -!s *

* '0 mont8s * 2,760 $ #er mont8

* 70% ou#!n * 5 mont8s * 30 -!s *

* 60% ou#!n * 5 mont8s * 30 -!s *

3,000 -o""!rs * 2 mu"ti#"ier

5,000 $ in November

= $'0,06,'3.22


31/38

'75$ #er ni8t

'25$ #er ni8t

'0 $ #er ni8t

'0 $ #er ni8t

'7/.375 $ #er ni8t

'2.'25 $ #er ni8t

'0.25$ #er ni8t

'0.25$ #er ni8t


32/38

'3.5/375$ #er ni8t'3'.32'25$ #er ni8t

'0.50625$ #er ni8t

'0.50625$ #er ni8t

'.555/375$ #er ni8t

'3.6''32'25$ #er ni8t

'0.76/0625$ #er ni8t

'0.76/0625$ #er ni8t


33/38


34/38

CAP Cal!"lation

bet! '.' Soure; 8tt#;


35/38


36/38

rot8


37/38

aret Pri!e an% &'are Cal!"lation

NC of #!nsion roHet $6,63/,'3.6'

NC of Norm!" # $,7/,'0.03

+!imum Di"ution for ositive NC 7'.53% = $,7/,'0.03 NC

business model - finance project (hotel)

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